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Victoria & Vancouver Island Real Estate Blog

Victoria & Vancouver Island Real Estate Blog

There were 174 single-family home sales in Nanaimo, BC in the first month of 2020, 16% down from the beginning of last year (and 25% down from December 2019). Condo sales volume was 3% lower in January 2020 than it was in January 2019.

With lower sales came higher inventory with 992 single family homes available compared to 981 January last year, also up 6% from the last month of 2019. Inversely matching the decrease in sales, available condos on the market increased 3% compared to January last year to 309 available and active listings.

Competition in the low and mid-ranges of the market continue to increase despite the government’s attempts at reducing demand. Many of the government initiatives to aid mid-range buyers and combat the demand side of

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The new year started strong with 411 properties sold in the VREB (Victoria Real Estate Board) area, compared to the 329 sales in January of 2019 (a 24.9% increase), although the total sales volume only crept up 2.2% from December 2019. Single-family home sales volume was up 31.6% compared to January last year while condos were only up 6.3% January to January.

The available inventory of active listings stayed close to the December numbers with only 6 more listings, bringing the total to 1,958. This number isn’t too far off January 2019 active listing numbers which came in at 2,057.

Competition for the low and mid-price ranged properties is continuing to build as sales increase and inventory remains steady, following the classic supply-demand

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December 2019 ends a relatively flat year for home sales with 402 properties sold, 7.2% up from sale volume in December 2018 and down 30.3% down from the previous month. Compared to December last year, single family homes sales volume rose 13.8% with 198 units being sold; condos rose slightly more with 17.5% and 121 units sold.

This year’s total properties sold came in a little bit under the 10 year average at 7,255 properties sold (the 10 year average being 7,413 sales per year). 2019 total sales were up 1.47% up from 7,413 properties sold in 2018.

There were 1,952 active listings available at the end of December in the Victoria Real Estate Board area, down 1.8% from the end of 2018 and down 18.6% from November 2019.

Supply remains a key

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December 2019 saw an increase of 40% sales of single family dwellings (SFD) in Nanaimo, BC, compared to the same month in 2018, 237 sales this year compared to 169 sales last year. As expected, sales in December decreased from 312 sales in November (24%). Sales volume of condos was 68% higher December 2019 compared to the same month the previous year!

Although the sales volume for the last month of 2019 was higher than 2018, the total sales volume for the year was 9% lower with 4,119 sales compared to 4,539 sales in 2018.

Listings active and available on the market decreased 19% from November to 937 listings at the end of 2019, very close to the 934 listings that were active at the end of 2018. The inventory of condos at the end of 2019 increased by

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There were a total of 577 properties sold in the Greater Victoria area of the Victoria Real Estate Board this November, up 15.9% from November last year when 498 properties sold, but seasonally down 6.8% from October 2019. Condo sales were up 5.9% compared to last year with 161 sales, as were single family home sales with 308 units being sold, a 15.4% increase!

The total listings available for sale on the Victoria Real Estate Board Multiple Listing Services dropped seasonally 9.6% this November compared to the previous month with 2,397 properties listed. This is a 2.3% increase compared to November 2018.

The market is still generally stable now and there are continuing significant differences in activity depending on area, property type and

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Single family home sales followed a normal seasonal trend and were down slightly compared to the previous month in the Vancouver Island Real Estate Board Region (excluding the Victoria region), with 312 sales compared to 343 in October, though up from the 304 units sold in November 2018. Apartment sales dropped 8% compared to November last year with 65 sales, and townhomes dropped 33% with 26 sales.

Inventory of single family homes rose 8% from last year going from 1,065 units on the market to 1,155. Apartment inventory also increased, from 319 to 368, a 15% increase. On the other hand, the number of townhomes available for sale dropped from 177 to 123, a 31% drop.

The board-wide benchmark price for a single family home of $517,100 in November is

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6404 Pacific Drive

Estate Style Home

Estate style home situated on a completely fenced, flat, usable two-acre property in one of the most sought after locations in the Cowichan Valley. 

No cookie-cutter lot here, the property is expansive with a large main house, detached heated insulated shop, gazebo, large shed, multiple patios, and private hot tub. 

The grounds are breathtaking with the perfect mixture of open space and nature landscape for an easy-care yard you can enjoy. 

Inside you are greeted with a bright open floor plan and grand entrance complete with vaulted ceilings and stain glass windows. 

A formal dining room, living room, large kitchen, eating area, powder room and three-car garage complete the main level.

Spacious grand master

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sanmiguelclose

Gordon Head Family Home

Gordon Head custom built family home.  Desirable floor plan with vaulted ceilings and beautiful hardwood floors create a cozy ambiance as you enter. 

A gorgeous living room with a gas fireplace is on your right for those special occasions and a winding staircase separates you from the hub of the home to create a great flow while maintaining complete privacy. 

The family room, eating area and kitchen are open concept and feature a second cozy gas fireplace, oak cabinetry, granite countertops and a large island with built-in wine rack.

Large bay windows and sliding glass doors look out over the spacious deck, landscaped sun-drenched garden and fully fenced back yard perfect for your furry friends. 

Also

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Yarrow Place

Waterfront home on the Gorge waterway

Waterfront home on the Gorge inlet, never before on the market this is an opportunity you won’t want to miss. 

The generous sized lot and a desirable floor plan with vaulted ceilings. Bring your ideas and put in some sweat equity to get the house you have always wanted. 

Good bones, the sellers are pricing it so that you can bring your own decorating ideas.

Tonnes of potential with the master bedroom on the main, a 2nd bedroom, dining and living room, large kitchen, separate eating area, and sunroom. 

All of this overlooking the patio, gardens, and waterway beyond. Upstairs is another bedroom, bathroom storage area, and private patio.

Its all about the location and the view here.

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Generally stable from the Cowichan Valley to the Comox Valley, the number of single-family homes sold in Nanaimo in October 2019 was down 11% from the same month in 2018 and on par with the previous month. For the same period, Condo sales were also down 9% and townhomes 22%.

In all of the Vancouver Island Real Estate Board (excluding Victoria Region) there were 343 single family homes sold in October, down just 2 from 345 the previous month and down 10% from 384 in October of 2018. In the same time 88 condos sold and 42 townhomes.

The number of active listings available for sale increased over the last year with single family inventory up 14% from 1,1732 a year ago to 1,333 at the end of October 2019. Condo listings increased 16% from 322 to 373 in

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