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Posted in Z4 Old City, Zone 4 - Nanaimo Real Estate
New property listed in Z4 Old City, Zone 4 - Nanaimo
I have listed a new property at 205 650 PRIDEAUX STREET in NANAIMO.
See details here
Welcome to Park Place - units do not come up for sale very often in this popular centrally located building, especially with a great monthly strata fee of under $250. The spacious home has 2 bedrooms (or 1 bed and a den), good sized living/dining area and the adjacent kitchen has plenty of cabinet space. The unit has its own laundry room with stacking washer/dryer, that also benefits from having extra storage space. French doors lead from the living room into the bedroom/den which has a cozy electric fireplace. The deck is quite large and probably much bigger than you would expect and can be accessed from either bedroom, the den or the living room. The unit also has a storage unit located on the ground floor...
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Posted in Z4 North Nanaimo, Zone 4 - Nanaimo Real Estate
New property listed in Z4 North Nanaimo, Zone 4 - Nanaimo
I have listed a new property at 4827 VISTA VIEW CRES in NANAIMO.
See details here
Gorgeous Cape Cod style home in North Nanaimo that is located in prestigious Rocky Point just minutes from 3 Major Parks: Neck Point, Linley Valley and Pipers Lagoon plus the Whalley Creek walking path is just down the street. The tranquil south west facing landscaped backyard is private and fully fenced. It has fruit trees, a small easy-care vegetable garden, water barrels and a small fish pond. Inside there are stainless steel appliances, heritage hardwood floors plus numerous updates: 2016 - solar panels and 30 yr roof; 2018 - garage door, quartz and marble on the bathroom vanities plus low flush toilets and bedroom carpets; 2019 -kitchen. The Livingroom has a high efficiency 27,000 btu gas fireplace which the...
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Posted in Z4 University District, Zone 4 - Nanaimo Real Estate
New property listed in Z4 University District, Zone 4 - Nanaimo
I have listed a new property at 1800 VALLEY OAK DRIVE in NANAIMO.
See details here
This 2 bed, 2 bath home is located in one of Nanaimo's most popular & desirable parks - Valley Oak Estates. This spacious home is light & airy with vaulted ceilings, skylights & outside has a carport, large covered deck & low maintenance yard that is fenced. Updates done over the past 2 years include new heatpump & furnace, the carport, flooring & interior paint. The home is located close to the Aquatic Centre, Ice rink, Buttertubs Bird Sanctuary & is only minutes from downtown Nanaimo. Park is 45+ & 1 small pet allowed. All measurements are approximate & should be verified if deemed important.
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Sales of apartments, patio homes and townhouse are down by between 21% and 60% when compared with May 2019 and the number of units listed ranges from +5% to -33%. Apartments have shown an increase in numbers listed which has been driven by the new condo building on Metral Drive hitting the market as this has added approximately 50 or 60 units to the apartment numbers.
 
Single family home sales are down by 49% and the number of homes listed during May is down by 34%. Also, the total number of houses that were for sale during the month is down by 18% when compared with May of last year.
 
So, we are seeing a similar drop in the number of sales to last month, but the number of homes being listed is down by 34% whereas last month it was down by 47% and the total...

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The British Columbia Real Estate Association (BCREA) has created a video to help explain one of the key documents used in a real estate transaction: the Contract of Purchase and Sale (CPS). Central to any transaction, the CPS outlines the terms and conditions on which a transaction takes place.
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Sales of apartments, patio homes and townhouse are down by between 59% and 86% when compared with April 2019 and the number of units listed is down by between 38% and 73%
 
Single family home sales are down by 47% and the number of homes listed during April is down by exactly the same amount – 47%. Also, the total number of houses that were for sale during the month is down by 19% when compared with April of last year.
 
With regards to the average house price, this is just slightly higher than April 2019 but is similar to the average we saw in March.
 
So, what does that mean for the market.  If we do start to see more properties being listed, but the number of sales continues to trend down, that is when we can see the market shift to favour...

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Posted in Z4 University District, Zone 4 - Nanaimo Real Estate
New property listed in Z4 University District, Zone 4 - Nanaimo
I have listed a new property at 1836 VALLEY OAK DRIVE in NANAIMO.
See details here
This large 1,409 sq ft double wide home is located in one of Nanaimo's most popular mobile home parks - Valley Oak Estates. The home offers 2 bedrooms, 2 full bathrooms & has a heatpump for low cost heating & air conditioning. However, when looking at this home you have to check out the view as this is one of the few in the park that backs onto Buttertubs bird sanctuary for unobstructed water views - just ideal for the nature lover. Other features include a carport with additional parking, new flooring and the interior was recently painted. This is a lovely home that is move in ready with quick possession possible & just waiting for its next owner. The park is 45+ & 1 small pet is allowed. Measurements are ap...
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What will the real estate market do during this time?

As you can imagine I have been asked this question more than once recently. There is no magic answer as none of us knows - we are in uncharted territory. What we do know is that real estate is one of three of mankind’s basic needs. Clothing, food and shelter. People need a place to live. When the quarantine/isolation is over and people feel safe, jobs are restored, our sense is that the marketplace will pick up where it left off based on the simple economic principle of supply and demand.
 
In the meantime, we are certainly going to see a reduction in the number of homes listed for sale and sold. There will still be sales going on as there are cases where people are in situations where they need to sell...
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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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Ian Hodson
Telephone: (250) 756-1132
Toll Free: 1-800-377-4374
Fax: (250) 756-1210
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Ian Hodson

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