Weekly Real Estate Take [January 2025 - Week 3]

Market Update

The flow of new listings is starting early in 2025. The number of new listings hitting the market this week has doubled from last week with 32 new single family homes hitting the market in the last 7 days.  New sales have declined subtly from 16 last week to just 11 this week. Our team is experiencing one of the busiest Januarys that I can remember. If the last 2 weeks are an indication of how the rest of 2025 is going to go, then it is going to be a busy spring.

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- 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 1020 Hawkes Turnaround a 5 bed, 3 bath, 2,526 sqft Central Nanaimo home listed for $639,000 ($253/sqft), 3804 Overlook Dr a 5 bed, 3 bath, 3,267 sqft Hammond Bay home listed for $999,000 ($306/sqft), 917 Harbour View St a 4 bed, 3 bath, 2,800 sqft South Nanaimo home listed for $899,000 ($321/sqft).

The 3 homes listed this week with the highest $/sqft are 643 Kennedy St a 1 bed, 2 bath, 890 sqft Old City home listed for $599,900 ($674/sqft), 915 Dufferin St a 3 bed, 1 bath, 1,072 sqft  Central Nanaimo home listed for $599,900 ($560/sqft), 206 Sabiston St a 2 bed, 1 bath, 948 sqft South Nanaimo home listed for $495,000 ($522/sqft).

The 3 homes priced the most below their assessed value are 1020 Hawkes Turnaround a 5 bed, 3 bath, 2,526 sqft Central Nanaimo home listed for $639,000 (9% below its tax-assessed value), 6593 Pelican Way a 5 bed, 3 bath, 2,862 sqft North Nanaimo home listed for $1,179,000 (6% below its tax-assessed value), 111 Frances St a 6 bed, 4 bath, 3,494 sqft North Jingle Pot home listed for $1185,000 (% below its tax-assessed value).

The 3 highest priced new listings this week are 1675 Kelsie Rd a 6 bed, 4 bath, 5,049 sqft  Chase River home listed for $2,195,000. 198 Heritage Dr a 4 bed, 4 bath, 3,563 sqft North Nanaimo home listed for $1,620,000. 4570 Laguna Way a 3 bed, 3 bath, 3,317 sqft North Nanaimo home listed for $1,399,900. 

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  3313 Trans Canada Hwy who secured a 20% discount off the $624,900 asking price (sale price $499,000). The buyers of 3753 Cavendish Blvd who secured a 11% discount off the $1,149,000 asking price (sale price $1,017,000). The buyers of 6505 Peregrine Rd who secured a 8% discount off the $1180000 asking price (sale price $1,080,000).

The 3 highest cost per sqft sales this week were 5993 Sealand Rd a 3 bed, 2 bath, 1,306 sqft  North Nanaimo home sold for $693,000 ($531/sqft), 2755 Shady Mile Way a 3 bed, 5 bath, 3,324 sqft  North Jingle Pot home sold for $1,565,000 ($471/sqft), 3901 Hammond Bay Rd a 4 bed, 2 bath, 2,264 sqft  Hammond Bay home sold for $915000 ($404/sqft).

The 3 highest sales this week were 2755 Shady Mile Way a 3 bed, 5 bath, 3,324 sqft North Jingle Pot home sold for $1,565,000. 221 Shiloh Dr a 6 bed, 4 bath, 3,129 sqft  South Jingle Pot home sold for $1,100,000. 6505 Peregrine Rd a 5 bed, 4 bath, 3,302 sqft North Nanaimo home sold for $1,080,000.

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