The number of new single family homes listed in Nanaimo declined last week to 41 new options to choose from. That is down from 50 new options the previous week. Sales have seen a healthy increase, with 20 homes selling last week. That is up from 13 the previous week. As we head into the colder winter months, expect sellers to be more proactive with their price amendments and those looking to make a move before year’s end need to be prepared to respond to the market. I expect the next 8 weeks to be busier than normal for this time of year.
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Notable New Listings
I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 186 Acacia Ave a 4 bed, 2 bath, 2,238 sqft University District home listed for $649,900 ($290/sqft), 635 Park Ave a 3 bed, 2 bath, 2,407 sqft South Nanaimo home listed for $725,000 ($301/sqft), 4520 Sheridan Ridge Rd a 6 bed, 5 bath, 3,964 sqft North Nanaimo home listed for $1,198,000 ($302/sqft).
The 3 homes listed this week with the highest $/sqft are 580 Rosehill St a 3 bed, 1 bath, 1,100 sqft Central Nanaimo home listed for $1,080,000 ($982/sqft), 1944 Woobank Rd a 3 bed, 2 bath, 1,604 sqft Cedar home listed for $1,129,000 ($704/sqft), 1551 Frames Rd a 2 bed, 1 bath, 848 sqft Chase River home listed for $529,900 ($625/sqft).
The 3 homes priced the most below their assessed value are 1551 Frames Rd a 2 bed, 1 bath, 848 sqft Chase River home listed for $529,900 (25% below its tax-assessed value), 2018 Cinnabar Ave a 3 bed, 3 bath, 2,078 sqft Chase River home listed for $739,900 (11% below its tax-assessed value), 635 Park Ave a 3 bed, 2 bath, 2,407 sqft South Nanaimo home listed for $725,000 (9% below its tax-assessed value).
The 3 highest priced new listings this week are 6866 Doumont Rd a 4 bed, 3 bath, 3,218 sqft Pleasant Valley home listed for $1,998,000. 2580 Holyrood Dr a 5 bed, 6 bath, 3,531 sqft Departure Bay home listed for $1,725,000. 3689 Glen Oaks Dr a 4 bed, 4 bath, 3,705 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 520 Marisa St who secured a 17% discount off the $779,000 asking price (sale price $649,900). The buyers of 3681 Place Rd who secured a 11% discount off the $799,900 asking price (sale price $710,000). The buyers of 138 Royal Pacific Way who secured a 11% discount off the $1,665,000 asking price (sale price $1,488,000).
The 3 highest cost per sqft sales this week were 6920 Shale Rd a 3 bed, 3 bath, 2,478 sqft Lower Lantzville home sold for $1,510,000 ($609/sqft), 7955 Northwind Dr a 4 bed, 3 bath, 2,134 sqft Upper Lantzville home sold for $1,165,000 ($546/sqft), 632 Milton St a 3 bed, 1 bath, 1,020 sqft Old City home sold for $554,500 ($544/sqft).
The 3 highest sales this week were 6920 Shale Rd a 3 bed, 3 bath, 2,478 sqft Lower Lantzville home sold for $1,510,000. 138 Royal Pacific Way a 7 bed, 4 bath, 3,836 sqft North Nanaimo home sold for $1,488,000. 7955 Northwind Dr a 4 bed, 3 bath, 2,134 sqft Upper Lantzville home sold for $1,165,000.
