RSS

Posted on by
Welcome to the monthly real estate statistics newsletter.

Similar to the last newsletter I have to mention the Bank of Canada raising their rate to 5%. The bank has a target of 2% but the Bank of Canada governor, Tiff Macklem, has said this could take till the middle of 2025 to reach that number. The next meeting is scheduled for September 6th and it is possible the bank could bring in another rise as they are taking it "one meeting at a time."

Although we are seeing high mortgage rates we are still seeing low inventory levels for freehold homes. There are currently approximately 320 homes for sale in Nanaimo and although this is higher than a year ago it is less than half the number of active listings we had when looking back around 10 years. 

Real Estate Statistics





 
 
Synopsis...
Read

Posted on by
Welcome to the monthly real estate statistics newsletter.
 
You will have probably read the news about the Bank of Canada raising it's rate up to 4.75%, which will have a knock on effect for mortgage rates. The banks next meeting is in July and the general consensus is that rates could go up again at least once more this year, but will be dependant on inflation/economic growth figures and this is already the highest rate we have seen since 2001. 

The real estate market peaked in the first quarter of last year but then the interest rates started going up and we saw a slow down. The last rate rise was in January of this year and after this we saw some confidence return to the market and that combined with low inventory levels meant we were even seeing some multiple offers, although thankfully...
Read

Posted on by
The Bank of Canada raised its overnight policy rate this morning by 25 basis points to 4.75 per cent. In its statement accompanying the decision, the bank noted that the Canadian economy was stronger than expected in the first quarter and spending in interest rates sensitive sectors, like the housing market, has picked up. On inflation, the Bank continues to expect CPI inflation to ease to 3 per cent by summer, however, monthly inflation continues to trend about two times higher than its 2 per cent target, a circumstance the Bank fears could become persistent without immediate action. 

After signalling a pause in its monetary tightening just a few months ago, the Bank of Canada has already changed course. While inflation has come down significantly, core inflation has been stubbornly trending...
Read

Posted on by

Welcome to the monthly real estate statistics newsletter.



Real Estate Statistics





 


Synopsis for Nanaimo
 
The graphs below show the median sold price, sold numbers and number of new listings since the beginning of each year (freehold homes only.)

Median Sold Price:


 


Sold Numbers:


 


Number of new listings:


 

The following graphs shows the % difference of the housing price index (HPI) from the same month 6 and 12 months ago. It is split into the different sub-areas (the overall figure for Nanaimo is on the left of the graph) and is for single family homes.





 
 

The following graphs are for Nanaimo and show the sales numbers against new listings and sales numbers against total active listings. This is helpful to show how the market is doing as the closer the 2 lines come...
Read

Posted on by
Posted in Na Pleasant Valley, Nanaimo Real Estate
I have sold a property at 43 6236 Farber Way in Nanaimo

I have sold a property at 43 6236 Farber Way in Nanaimo. See details here

This lovely double wide home is located in the highly desirable 55+ Crest Estates II park. Inside you will find it is very light with vaulted ceilings, skylights and a spacious living and dining area. There are 2 bdrms (the master has a walk-in closet and ensuite) and 2 bathrooms with the main bathroom being super large with a soaker tub and separate shower. Outside there are retractable awnings at the front, a large extended carport and a good sized shed that is large enough that it could be used for a workshop. The rear garden is fully fenced, is quiet and private, plus there is an absolutely great extended patio area that is covered so could be used year round. Also there is a built-in vac, the hot water tank was replaced...

Read

Posted on by
Posted in PQ Parksville, Parksville/Qualicum Real Estate
I have sold a property at 383 Bass Ave in Parksville

I have sold a property at 383 Bass Ave in Parksville. See details here

SO MUCH TO OFFER with a SUITE. This 5 bedroom 3 bathroom home is on a quiet cul-de-sac and has about 2318 sf finished and it sit on a 8119 sf lot. Many updates and upgrades over the years including an open concept main living area and modern kitchen with quartz counters and a peninsula island. Excellent indoor-outdoor access to upper deck overlooking the spacious back yard. There are 3 beds and 2 baths on the upper level including the primary bedroom with 3 pc ensuite. The lower level offers an additional bedroom, shared laundry space and a separate 1 bedroom suite with direct access to the back yard. Located within walking distance to downtown, shopping, parks, and the beach. Immediately available.

Read

Posted on by
Welcome to the monthly real estate statistics newsletter.

The Bank of Canada maintained its overnight rate at 4.5 per cent at their last meeting on Wednesday. In the statement accompanying the decision the Bank noted that demand in Canada still exceeds supply and labour markets remain tight and that first quarter economic growth looks stronger than expected. However, the bank expects consumption growth to slow this year as households renew mortgages at higher rates and growth in exports and investment will decline as the US economy slows substantially in coming months. On inflation, the Bank expects headline CPI inflation to fall to 3 per cent in the middle of this year before declining gradually to 2 per cent by the end of 2024. However, the Bank warned getting inflation back to 2 per cent will...
Read

Posted on by
Posted in Na Pleasant Valley, Nanaimo Real Estate
New property listed in Na Pleasant Valley, Nanaimo

I have listed a new property at 43 6236 Farber Way in Nanaimo. See details here

This lovely double wide home is located in the highly desirable 55+ Crest Estates II park. Inside you will find it is very light with vaulted ceilings, skylights and a spacious living and dining area. There are 2 bedrooms and 2 bathrooms with the main bathroom being super large with a soaker tub and separate shower. Outside there are retractable awnings at the front, a large extended carport and a good sized shed that is large enough that it could be used for a workshop. The rear garden is fully fenced, is quiet and private, plus there is an absolutely great extended patio area that is covered so could be used year round. Also the hot water tank was replaced in 2021, the roof in 2018 and the home is on a foundation....

Read

Posted on by
Welcome to the monthly real estate statistics newsletter.

The Bank of Canada maintained its overnight rate at 4.5 per cent at its last meeting on March 8th. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of quarters. That weak growth should moderate wage growth in a currently tight labour market and ease competitive pressures on prices, ultimately leading to inflation reaching 3 per cent by the middle of 2023.  As for the possibility of future rate increases, the Bank stated that it will continue to assess economic developments and the impact of past interest rate increases and is prepared to increase its policy rate further if needed.

These high interest rates has led...
Read

Posted on by
Posted in Na Chase River, Nanaimo Real Estate
I have sold a property at 19 61 12th St in Nanaimo

I have sold a property at 19 61 12th St in Nanaimo. See details here

Welcome to this affordable, move-in ready home in Brookdale MHP. This 2 bedroom, 1 bathroom benefits from newer luxury vinyl flooring, newer furnace, some newer paint, updated bathroom and the roof is believed to be approx 10 years old. Outside there is a large deck, part of which is covered so great for year round use, plus storage shed and a good sized garden area. This park is close to Southgate Shopping Mall so easy access to a grocery store, coffee shops, drug store, restaurant, gas station and transit, It is a 55+ park and allows 2 small pets. All measurements are approximate and should be verified if important.

Read
Newer posts : page 5 Older posts : page 7
Ian Hodson
Telephone: (250) 756-1132
Toll Free: 1-800-377-4374
Fax: (250) 756-1210
Beds (Min)
Any
1
2
3
4
5
Baths (Min)
Any
1
2
3
4
5
Priced between $ & $

Search By Map

Ian Hodson

Telephone (250) 756-1132

ian@ianhodson.ca

4200 Island Highway

Nanaimo, B.C., 

V9T 1W6

Powered by myRealPage.com
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.