Weekly Real Estate Take February 2025 - Week 2

In the last 7 days, 34 single-family homes were introduced to the market in Nanaimo. 21 single-family homes have sold in the last 7 days.

The first 14 days of February indicate that real estate trading activity will remain stable and balanced into 2025. The snow-covered ground has put a temporary hold on new listings while we wait for better photography conditions to materialize.

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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 4178 Gulfview Dr a 8 bed, 6 bath, 4,109 sqft Hammond Bay home listed for $1,280,000 ($312/sqft), 3496 Littleford Rd a 3 bed, 4 bath, 2,948 sqft Uplands home listed for $924,900 ($314/sqft), 145 Bird Sanctuary Dr a 5 bed, 3 bath, 2,495 sqft University District home listed for $784,900 ($315/sqft).

The 3 homes listed this week with the highest $/sqft are 6989 Owen Rd a 4 bed, 4 bath, 3,312 sqft Lower Lantzville home listed for $2,179,000 ($658/sqft), 3130 Smugglers Hill Dr a 3 bed, 3 bath, 1,508 sqft Departure Bay home listed for $925,000 ($613/sqft), 1624 Hosanna Way a 3 bed, 2 bath, 1,535 sqft Chase River home listed for $929,000 ($605/sqft).

This week only 1 home was priced the below it’s assessed value. 1107 College Dr a 5 bed, 3 bath, 2932 sqft Na University District home listed for $1,000,000 (8% below its tax-assessed value).

The 3 highest priced new listings this week are 6989 Owen Rd a 4 bed, 4 bath, 3,312 sqft Lower Lantzville home listed for $2,179,000. 2730 Cedar Heights Cres SW a 4 bed, 5 bath, 3,626 sqft Cedar home listed for $1,650,000. 196 Golden Oaks Cres a 7 bed, 5 bath, 3,600 sqft Hammond Bay home listed for $1,350,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  640 Campbell St who secured a 5% discount off the $395,000 asking price (sale price $375,000). The buyers of 396 Avaani Way secured a 4% discount off the $959,900 asking price (sale price $925,000). The buyers of 1020 Hawkes Turnaround secured a 3% discount off the $639,000 asking price (sale price $620,000).

The 3 highest cost per sqft sales this week were 640 Campbell St a 2 bed, 1 bath, 565 sqft Old City home sold for $375,000 ($664/sqft), 2015 Storey Rd a 4 bed, 3 bath, 2,177 sqft Cedar home sold for $1,260,000 ($579/sqft), 1085 Southwood Dr a 3 bed, 2 bath, 1,417 sqft South Nanaimo home sold for $741,500 ($523/sqft).

The 3 highest sales this week were 2015 Storey Rd a 4 bed, 3 bath, 2,177 sqft Cedar home sold for $1,260,000. 225 Holland Rd a 3 bed, 3 bath, 2,511 sqft South Jingle Pot home sold for $1,200,000. 122 Bonavista Pl a 6 bed, 4 bath, 3,151 sqft North Nanaimo home sold for $993,000.

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