Weekly Real Estate Take [February 2025 - Week 1]

Notable New Listings.

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 703 Stirling Ave a 3 bed, 2 bath, 1,756 sqft  University District home listed for $499,900 ($285/sqft), 3954 Jingle Pot Rd a 5 bed, 4 bath, 3310 sqft  North Jingle Pot home listed for $1,100,000 ($332/sqft), 4332 Tiki Way a 5 bed, 4 bath, 3,032 sqft Hammond Bay home listed for $1,025,000 ($338/sqft).

The 3 homes listed this week with the highest $/sqft are 1641 Bowen Rd a 2 bed, 1 bath, 776 sqft  Central Nanaimo home listed for $1,099,900 ($1417/sqft), 2760 Ritten Rd a 2 bed, 1 bath, 1,242 sqft Cedar home listed for $1,499,000 ($1207/sqft), 640 Campbell St a 2 bed, 1 bath, 565 sqft Old City home listed for $395,000 ($699/sqft).

The 3 homes priced the most below their assessed value are 2104 Northfield Rd a 6 bed, 4 bath, 2,211 sqft  Central Nanaimo home listed for $1,050,000 (7% below its tax-assessed value), 640 Campbell St a 2 bed, 1 bath, 565 sqft  Old City home listed for $395,000 (6% below its tax-assessed value), 1222 Nelson St a 4 bed, 2 bath, 1,972 sqft Central Nanaimo home listed for $679,000 (% below its tax-assessed value).

The 3 highest priced new listings this week are 2760 Ritten Rd a 2 bed, 1 bath, 1,242 sqft  Cedar home listed for $1,499,000. 4631 Laguna Way a 5 bed, 4 bath, 3,175 sqft North Nanaimo home listed for $1,498,000. 6290 Phantom Rd a 2 bed, 3 bath, 2,570 sqft Upper Lantzville home listed for $1,950,000. 

Notable New Listings.

The 3 buyers that secured the largest discounts this week are the buyers of  8446 Rumming Rd who secured a 15% discount off the $1,275,000 asking price (sale price $1,090,000). The buyers of 2450 Mill Rd who secured a 9% discount off the $1,150,000 asking price (sale price $1,050,000). The buyers of 7773 Lantzville Rd who secured a 6% discount off the $799,000 asking price (sale price $750,000).

The 3 highest cost per sqft sales this week were 2359 Gould Rd E a 3 bed, 2 bath, 1,649 sqft  Cedar home sold for $965,000 ($585/sqft), 915 Dufferin St a 3 bed, 1 bath, 1,072 sqft  Central Nanaimo home sold for $610,000 ($569/sqft), 7773 Lantzville Rd a 3 bed, 2 bath, 1,352 sqft  Lower Lantzville home sold for $750,000 ($555/sqft).

The 3 highest sales this week were 101 Prince John Way a 5 bed, 3 bath, 3,168 sqft  Departure Bay home sold for $1,650,000. 836 Athena Pl a 5 bed, 3 bath, 4,190 sqft  North Nanaimo home sold for $1,342,000. 8270 Sabre Rd a 3 bed, 4 bath, 2,738 sqft  Lower Lantzville home sold for $1,325,000. 

This week is John’s life

This week had me dealing with 3 separate multiple offer scenarios. On 2 of them I was representing a home owner and 1 of them I was representing a purchaser. All of them resulted in accepted offers.  We also sold a waterfront property in Ladysmith (video here) and a townhome in Central Nanaimo (video here). We handed over keys on a downtown Nanaimo waterfront condo and Fairwinds waterfront condo.

Last night the team and I attended the Vancouver Island Business Excellence Awards in Victoria, BC. We were nominated for an award & were ecstatic to come home with the coveted “Small Business of the Year” award (image here). The event was sponsored by TD Bank and hosted by the Business Examiner media company.