Welcome to the monthly real estate market report newsletter for January 2021.
As we move into 2021 we are still seeing a shortage of homes for sale which is resulting in buyers competing with each other. Looking back at the previous 10 years the past two months have seen the lowest number of active single family freehold homes for sale in both the Nanaimo and Parksville/Qualicum areas. We should see the numbers increase as we move into Spring, which may relieve some of the pressure. However, we are still hearing from homeowners that they want to list but cannot find anywhere to buy so are holding off listing their home and that some are not listing yet until the Covid pandemic is more under control. This combined with our population numbers increasing (Nanaimo is now at 100,000) and our...