Weekly Real Estate Take December 2024 - Week 3

Market Update

This week, the Nanaimo real estate market continues to show activity as we move deeper into the holiday season. New listings remain steady with 16 just listed, matching last week’s 15. Sales also saw a slight increase, with 16 sold this week compared to 14 last week.

Typically, we expect a slowdown during this time of year, but the market remains active, indicating continued buyer demand and seller motivation as we approach the year’s end.

Interested in Your Home's Value?

For a personalized market assessment of your home, please email me. I respond directly to every email and prioritize open communication with my clients.

- John Cooper

Notable New Listing

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 6488 Lasalle Rd a 5 bed, 3 bath, 3,014 sqft North Nanaimo home listed for $1,008,990 ($335/sqft), 1914 Meredith Rd a 5 bed, 2 bath, 2,300 sqft Central Nanaimo home listed for $799,000 ($347/sqft), 2512 Quennell Rd a 5 bed, 3 bath, 2,248 sqft Cedar home listed for $800,000 ($356/sqft).

The 3 homes listed this week with the highest $/sqft are 6237 Dover Rd a 3 bed, 2 bath, 1,296 sqft North Nanaimo home listed for $760,000 ($586/sqft), 120 Hawk Point Rd a 5 bed, 5 bath, 3,157 sqft North Nanaimo home listed for $1,799,999 ($570/sqft), 143 View St a 2 bed, 1 bath, 908 sqft South Nanaimo home listed for $469,000 ($517/sqft).

There was only one home priced below its assessed value this week. 2512 Quennell Rd a 5 bed, 3 bath, 2,248 sqft Cedar home listed for $800,000 (5% below its tax-assessed value)

The 3 highest priced new listings this week are 4650 Ambience Dr a 7 bed, 5 bath, 4,186 sqft North Nanaimo home listed for $1,980,000. 120 Hawk Point Rd a 5 bed, 5 bath, 3,157 sqft North Nanaimo home listed for $1,799,999. 6300 Corfu Dr a 5 bed, 3 bath, 3,049 sqft North Nanaimo home listed for $1,179,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  3456 Budehaven Dr who secured a 9% discount off the $1,492,000 asking price (sale price $1,360,000). The buyers of 3638 Ranch Point Rd secured a 7% discount off the $1,099,900 asking price (sale price $1,022,500). The buyers of 208 Westwood Rd secured a 6% discount off the $1,144,000 asking price (sale price $1,080,000).

The 3 highest cost per sqft sales this week were 625 Winchester Ave a 3 bed, 2 bath, 1,249 sqft South Nanaimo home sold for $678,750 ($543/sqft), 3456 Budehaven Dr a 4 bed, 3 bath, 2,770 sqft Hammond Bay home sold for $1,360,000 ($491/sqft), 5375 Fillinger Cres a 3 bed, 2 bath, 1,722 sqft North Nanaimo home sold for $835,000 ($485/sqft).

The 3 highest sales this week were 3456 Budehaven Dr a 4 bed, 3 bath, 2,770 sqft Hammond Bay home sold for $1,360,000. 104 Golden View Dr a 5 bed, 3 bath, 3,071 sqft Hammond Bay home sold for $1,175,000. 6632 Jenkins Rd a 6 bed, 4 bath, 3,100 sqft Pleasant Valley home sold for $1,100,000.

If you are looking for details on a recent sale not mentioned here, email me and I will send you the sale price.

This Week in John’s Life

This week was another fantastic one in Mexico. Stephen flew down to join me, and we’ve been making the most of both work and leisure. I had the chance to visit a local Jiu-Jitsu club (photo here), where I brushed up on some old moves, and we also spent some quality time relaxing on the beach (video here). It’s been the perfect balance of adventure and downtime!

On the business front, it’s been a busy and productive week. We secured an accepted offer on a stunning home in Nanoose Bay, celebrated an offer going unconditional, and handed over keys to two happy clients. On top of that, we’re marking Stephen’s 1-year anniversary with the team (photo here)! Plenty to celebrate as we close out 2024 on a high note!

- John Cooper