Weekly Real Estate Take February 2025 - Week 4

The number of new single-family homes being introduced to the market each week is holding steady at 30 new homes per week. Sales have increased this week over last with 12 single family homes selling in the last 7 days (8 sold the week prior). Despite global market uncertainty, the Nanaimo real estate market is performing well and there is much optimism about the future.

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Notable New Listing

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 2477 Enefer Rd a 7 bed, 7 bath, 5,760 sqft Cedar home listed for $949,900 ($165/sqft), 38 Haliburton St a 5 bed, 2 bath, 2,225 sqft South Nanaimo home listed for $649,900 ($292/sqft), 648 Alyssa Pl a 7 bed, 4 bath, 2,590 sqft South Nanaimo home listed for $799,900 ($309/sqft).

The 3 homes listed this week with the highest $/sqft are 2371 Jingle Pot Rd a 3 bed, 2 bath, 1,564 sqft South Jingle Pot home listed for $1,199,888 ($767/sqft), 6824 Ronald Rd a 3 bed, 2 bath, 1,065 sqft Upper Lantzville home listed for $799,900 ($751/sqft), 6743 Aulds Rd a 2 bed, 2 bath, 1,340 sqft Upper Lantzville home listed for $899,000 ($671/sqft)

The 3 homes priced the most below their assessed value are 2477 Enefer Rd a 7 bed, 7 bath, 5,760 sqft Cedar home listed for $949,900 (27% below its tax-assessed value), 4733 Laguna Way a 5 bed, 3 bath, 2,998 sqft Hammond Bay home listed for $984,900 (9% below its tax-assessed value), 5207 Dewar Rd a 5 bed, 3 bath, 2,211 sqft North Nanaimo home listed for $999,000 (4% below its tax-assessed value).

The 3 highest priced new listings this week are 674 Farquhar St a 2 bed, 1 bath, 906 sqft South Nanaimo home listed for $509,000. 2159 Yellow Point Rd a 2 bed, 1 bath, 960 sqft Cedar home listed for $549,000. 931 Dufferin St a 2 bed, 1 bath, 900 sqft Central Nanaimo home listed for $590,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 703 Stirling Ave, who secured a 25% discount off the $499,900 asking price (sale price $375,000). The buyers of 320 Carnoustie Pl, who secured a 4% discount off the $1,180,000 asking price (sale price $1,130,000). The buyers of 1371 Stewart Ave, who secured a 3% discount off the $1,195,000 asking price (sale price $1,162,000).

The 3 highest cost per sqft sales this week were 1931 Legacy Pl a 1 bed, 1 bath, 916 sqft Cedar home sold for $835,000 ($912/sqft), 3174 Skyview Rd a 3 bed, 2 bath, 1,262 sqft Upper Lantzville home sold for $970,000 ($769/sqft), 681 Cadogan St a 3 bed, 2 bath, 1,346 sqft Central Nanaimo home sold for $810,000 ($602/sqft).

The 3 highest sales this week were 1371 Stewart Ave, a 7 bed, 5 bath, 3,200 sqft Brechin Hill home, sold for $1,162,000. 320 Carnoustie Pl a 6 bed, 3 bath, 2,883 sqft Departure Bay home sold for $1,130,000. 114 Grace Pl a 5 bed, 3 bath, 2,610 sqft Pleasant Valley home sold for $976,000.

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