Below you will find the statistics for February 2020 for single family homes.
  
The number of active listings in Nanaimo is still lower than February 2019 but we have seen slightly more homes listed. The number sold is still lower than February 2019 but is only by 6% so the gap is not as large as we saw last month.

Price wise the average for Nanaimo is still high, although very slightly lower than last month, as we continue to be approximately 10% higher than the same month last year.

Currently due to the corona virus there is obviously a lot going on with stock markets, oil prices, travel restrictions etc and we have already seen the Bank of Canada reduce interest rates and there is the prospect of more rate drops this year. It is very difficult to predict what is going to happen this...
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I have listed a new property at 1839 VALLEY OAK DRIVE in NANAIMO.
The perfect home for enjoying a carefree lifestyle in the highly desirable & popular Valley Oaks MHP. This comfortable home boasts a carport, 2 driveways for lots of parking and a covered deck. The well maintained home has an open floor plan, that feels like a rancher, plus enjoy the rare benefits of the heat pump for low cost heating and air conditioning! The wonderful all season sunroom/family room features a natural gas fireplace. The large kitchen benefits from a skylight & the living room is bright & ideal for relaxing in & entertaining friends and family. All amenities are nearby - Aquatic Centre, Buttertubs bird sanctuary, ice rink, buses,...! Park is 45+ & 1 small pet is allowed. All measurements are ...
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The local real estate board (Vancouver Island Real Estate Board - VIREB) produce a buyers report and the following information is from that report. The report is based on 2018 numbers (the 2019 report is not out yet) but is a good indication of what is happening here.


The full report can be found at:   http://www.vireb.com/assets/uploads/2018_buyer_profile_1840.pdf


There are 3 questions we commonly get asked by sellers:


1- Where are the buyers coming from?



2- What are they buying?




3- How are buyers becoming aware of properties?



You can see that the majority of buyers are coming from either Vancouver or Vancouver Island, are purchasing a single family (freehold) home as their principle residence and are using internet based searches to research homes for sale.


The report has much more...

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Below you will find the statistics for January 2020 for single family homes.
 
Although the number of active listings in Nanaimo is lower than January 2019 it is still slightly higher than we saw in January 2017 and 2018 but lower than January 2016 and 2019. It is the lowest number of homes sold in the last 5 years, although is the same as January 2013 and slightly higher than January 2009. We should see the number of homes listed and sold increase now we are past January, although the weather can still have an influence on those numbers as we saw during our week of snow!
 
Price wise the average for Nanaimo was a record, although I think this is likely to have been an anomaly due to the low number of sales and there were also some sales of homes priced over $1m which can skew the figures....
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I recently received a copy of a report on housing affordability in different markets around the world which was quite interesting.


The report title is '16th Annual Demographia International Housing Affordability Study: 2020', was published by Demographia and Performance Urban Planning (http://www.demographia.com/dhi.pdf and www.PerformanceUrbanPlanning.org) and was based on data from the 3rd quarter 2019.


Below is a summary of the most affordable and least affordable markets in different countries (the higher the number the least affordable it is.)


Canada:

Most affordable:

1. Fort McMurray, AB

=2. Fredericton, NB

=2. Saint John, NB

4. Cape Breton, NS


Least affordable:

48. Victoria, BC

49. Toronto, BC

50. Vancouver, BC


UK

Most affordable:

1. Falkirk

=2. Aberdeen

=2. Blackpool/Lancashire...

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You should have received your property assessment notice and may be wondering what it all means or have some questions.


First of all you should be aware of is that although you have only just received your notice it is based on values as of July 1, 2019 so is already 6 months out of date and will be 18 months out of date come December 2020.


Over the last couple of years we have seen the values have double digit % increases over the previous years. However, the average for Nanaimo for the 2020 assessment is a 2% increase over the 2019 assessment.


The figures for Nanaimo (single family homes) show the typical assessed value increase from $490,000 to $504,000 for 2020.


Town of Ladysmith is $426,00 to $445,000.

District of Lantzville is $623,000 to $610,000.

City of Parksville is $481,000 to $485,000...

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There is quite often some confusion with regard to the electrical certification requirements for a mobile home to be able to list it for sale.


Electrical Safety Regulation 21 requires that all new factory built structures or manufactured/mobile homes to display an approval mark from an accredited agency. The most common one we see is the CSA label and although the label can vary they should show the following mark:



Where we start to see issues is when a mobile home has an addition added, with power sockets and lights or where power is run to a shed. In this instance the CSA, or equivalent certification is valid for the mobile home (providing there have been no updates to the electrics in the home that would have required a permit) but not for the electrics in the addition or shed. In this instance...

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Please visit our Open House at 1825 NOORZAN STREET in NANAIMO.
Open House on Saturday, January 11, 2020 2:00PM - 4:00PM
This 2 bed, 2 bathroom home is located only minutes from downtown in the desirable Valley Oak Estates. Buttertubs Marsh, Aquatic center, ice rink, walking trails are within walking distance & its on a bus route. This home has the popular floorplan with master bedroom at the rear, 2nd bedroom at the front & the kitchen/dining & living room located in the middle of the home. This not only gives it a spacious feel but means it has a large 13' x 12' master bedroom with walk in closet. It has 2 full bathrooms with the ensuite having a shower & linen closet & the main bathroom having a tub/shower. Added features include vinyl thermal windows, big kitchen skylight...
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Real Estate Statistics for December 2019
 
  December 2019 November 2019 December 2018
Nanaimo      
Unit Sales: 67 100 46
Average Sale Price: $571,519 $565,583 $574,955
       
Parksville / Qualicum      
Unit Sales: 31 46 28
Average Sale Price: $731,448 $642,913 $647,375
         
Nanaimo home sales increased 46% in December 2019 when compared with December 2018. The average sale price decreased 1%. The median house price was $553,250.

Parksville/Qualicum home sales increased 11% in December 2019 when compared with December 2018. The average sale price increased 13%. The median house price was $635,000.
 
Annual Real Estate Statistics
 
Although we are seeing a very moderate increase...
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Real Estate Statistics for November 2019
 
 
  November 2019 October 2019 November 2018
Nanaimo      
Unit Sales: 100 97 76
Average Sale Price: $565,632 $556,717 $532,299
       
Parksville / Qualicum      
Unit Sales: 46 49 38
Average Sale Price: $642,913 $578,249 $601,374
         
Nanaimo home sales increased 32% in November 2019 when compared with November 2018. The average sale price increased 6%. The median house price was $547,500.

Parksville/Qualicum home sales increased 21% in November 2019 when compared with November 2018. The average sale price increased 7%. The median house price was $622,000.
 
Synopsis for Nanaimo
 
In Nanaimo for November 2019 there were...
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Ian Hodson
Telephone: (250) 756-1132
Toll Free: 1-800-377-4374
Fax: (250) 756-1210
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