March statistics have been published by VIREB and we are seeing encouraging signs of increased inventory! While we are seeing a minor decrease in the amount of listings for single family detached homes from March of 2021, when we combine single family, townhomes, condos and land, we are seeing an increase of inventory compared to March of 2021. Futhermore, month over month, we have seen property inventory increase of 57%! More inventory means more options for buyers when they are looking to make offers on their new home. More inventory has also helped to spread out offers across more properties meaning that fewer properties are seeing 10 or more offers and changing the competitive landscape of the Nanaimo Real Estate market.
