Summer is almost here and while we wait with excitement for long hot days, beach time, family vacations and endless outdoor activities, the reality is that it can be an extremely busy time. If your home is on the market or if you are thinking of selling, you might want to keep in mind the following tips:
As we enter the spring market we will see an increase in activity. We did see home sales drop slightly in March and April 2018, likely due to a combination of government policy changes, stricter mortgage qualification rules, and consumer uncertainty surrounding new provincial taxes. Last month, 399 single-family homes sold on the Multiple Listing Service® (MLS®) compared to 316 in February and 482 one year ago in the Vancouver Island Real Estate Board.
Savoring produce at the peak of freshness, meeting the people who raise and grow your food, and admiring the wares of talented artisans and craftspeople; there are countless reasons for supporting our Island’s Farmers' Markets. Listen to live music while you shop for locally made coffee, baking, jams & jellies, honey, jewellery, pottery, textiles, plants, flowers, wine, meat, and exceptional produce! At the Farmers' Market, you’ll find an amazing array of fruits and vegetables that you don’t see in your average supermarket: red carrots, rainbows of heirloom tomatoes, purple cauliflower, green garlic, watermelon radishes, and more. Food as real as it gets—fresh from the farm, and an added bonus, these farmers, ranchers, butchers, fisherman and artisans are also passionate cooks; who better to give plenty of free advice about how to cook the foods they are selling.
Congratulations to Derek Gillette for being internationally recognized and awarded among 113,804 associates in over 100 countries around the globe, RE/MAX International Network wide!
Stronger than average market conditions continue. Last month, 316 single-family homes sold on the Multiple Listing Service® (MLS®) system compared to 288 in January and 345 one year ago. There were 812 single-family homes for sale in February compared to 947 one year ago.
Spring Break is almost over but there's another long weekend left before going back to school that little and big kids get excited for, Easter weekend! If you don't have any plans and are looking for adventures to be had around the Island, read-on!
We have just come off the busiest December on record, with sales in the Vancouver Island Real Estate Board returning to somewhat normal levels in January. Last month, 290 single-family homes sold on the Multiple Listing Service® (MLS®) compared to 327 in December and 244 one year ago. Inventory of single-family homes dropped to 749 in January, a 16 per cent decrease from one year ago and a new low for the VIREB (Vancouver Island Real Estate Board) area. The number of apartments changing hands in January rose by 65 per cent with the supply of apartments and townhouses dipping by 19 per cent and 30 per cent respectively.
The news has been flooded with articles regarding the 2018 BC Budget changes and people talking about how these changes will affect Real Estate for both Buyers and Sellers. We have broken these changes down to explain how they will affect the Central Vancouver Island Real Estate Market.
With Family Day just around the corner and sunny days soon approaching on the West Coast (hopefully), it’s time to start making plans for the upcoming long weekend.
The real estate industry is the healthiest it’s been in over 20 years— with less drama due to a more stable economy. So what’s in store as we look ahead in the year to come?
We might see Millennials delaying their home purchase as a result of feeling financial pressure from student loan debt; coupled with relatively low wages, this makes it difficult to put a downpayment on a home. In higher-priced areas, many feel squeezed out of the market, unable to purchase even a so-called starter home. The 2016 market changes caught us by surprise and then the 2017 market started to balance out. There are still affordable options in Nanaimo with our average home price around $550,000, and we will see a more stabilized market in 2018.
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