Weekly Real Estate Take [May 2024 - Week 1]

If you are interested in learning what the market conditions are for your home, drop me an email and we can arrange for a conversation about your needs. Replies to this weekly email come directly to my personal inbox and I read and reply to every email I receive. You will never be handed off to a team member, I pride myself on my clients having direct contact and access to my advice and guidance. 

 - John Cooper

Notable New Listings.

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 1636 Cedar Rd a 3 bed, 2 bath, 2,151 sqft Cedar home listed for $629,900 ($293/sqft), 6180 Dover Rd a 5 bed, 3 bath, 3,091 sqft North Nanaimo home listed for $925,000 ($299/sqft), 3990 Tiki Lane a 4 bed, 3 bath, 3,007 sqft Hammond Bay home listed for $899,900 ($299/sqft).

The 3 homes listed this week with the highest $/sqft are 5803 Quarry Cres a 4 bed, 3 bath, 2,342 sqft Pleasant Valley home listed for $1,999,900 ($854/sqft), 2369 South Wellington Rd a 3 bed, 2 bath, 2,275 sqft Extension home listed for $1,799,900 ($791/sqft), 640 Campbell St a 2 bed, 1 bath, 565 sqft Old City home listed for $439,900 ($779/sqft).

The 3 homes priced the most below their assessed value are 2044 Furn Rd a 4 bed, 3 bath, 1,857 sqft Cedar home listed for $625,000 (19% below its tax-assessed value), 6180 Dover Rd a 5 bed, 3 bath, 3,091 sqft North Nanaimo home listed for $925,000 (16% below its tax-assessed value), 3121 Northwood Rd a 3 bed, 2 bath, 1,947 sqft South Jingle Pot home listed for $1,100,000 (7% below its tax-assessed value).

The 3 highest priced new listings this week are 5803 Quarry Cres a 4 bed, 3 bath, 2,342 sqft Pleasant Valley home listed for $1,999,900. 2369 South Wellington Rd a 3 bed, 2 bath, 2275 sqft Extension home listed for $1,799,900. 7146 Vipond Rd a 4 bed, 2 bath, 2,054 sqft Pleasant Valley home listed for $1,549,900.

Notable New Sales.

The 3 buyers that secured the largest discounts this week are the buyers of  5540 Oceanview Terr secured a 13% discount off the $1,250,000 asking price (sale price $1,090,000). The buyers of 2317 Bowen Rd secured a 10% discount off the $639,900 asking price (sale price $575,000). The buyers of 1851 Meadowlark Cres secured a 7% discount off the $779,000 asking price (sale price $725,000).

The 3 highest cost per sqft sales this week were 820 Oakley St a 3 bed, 1 bath, 1,006 sqft Central Nanaimo home sold for $610,000 ($606/sqft), 708 Hyatt Pl a 3 bed, 3 bath, 2,149 sqft North Nanaimo home sold for $1,230,000 ($572/sqft), 5238 Norton Rd a 5 bed, 4 bath, 3,922 sqft North Nanaimo home sold for $2,100,000 ($535/sqft).

The 3 highest sales this week were 5238 Norton Rd a 5 bed, 4 bath, 3,922 sqft North Nanaimo home sold for $,2100,000. 7449 Elizabeth Way a 6 bed, 5 bath, 3,554 sqft Upper Lantzville home sold for $1,76,8000. 3849 Glen Oaks Dr a 4 bed, 3 bath, 2,774 sqft Hammond Bay home sold for $1,470,000.

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