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.
Deciding on what kind of home is the right fit for you while you ease (or jump!) into retirement is one of the most important steps when choosing what to/where to buy next. Location, transportation, and details such as stairs, no stairs; do we want the grand-kids sleeping in the room next to us or on the other side of the house (or tenting it in the backyard…)? When it comes time to re-locate, down-size or simply to just retire happy, here are a few key factors to consider when looking for a great place to create new memories in.
Indoor Plants are back! You heard that right; indoor greenery and houseplants are back, and not only because lush foliage is considered on trend in the fashion and interior design world.
We hear a lot about housing affordability in and around the Vancouver market, and questions about the spillover into smaller communities such as Nanaimo can become a concern about our affordability. Nanaimo remains close to the National average price of $487,000, and remains an attractive alternative to those that have remote work capabilities, and with the increase in building our construction-related jobs have increased, as well as those entering their retirement years. Yet, our housing price is fundamentally linked to the relationship between housing inventory and market demand.
Before you 'Deck the Halls', you should consider what holiday decor will help sell your home!
It’s that time of year again and our social calendars can get busy with parties and events. Though it is not typically a busy time for real-estate, you can take comfort in the fact that those few brave house-hunters that do venture out over the holidays are serious about buying a house. So how do you put your home on the top of their Christmas list? Here is some great advice to put buyers in the right buying spirit…
Though Vancouver Island home sales dipped slightly in August, the demand from buyers is still making for a positive market.
September is typically a busy month, and even though you are probably trying to take advantage of the final lazy, hazy, crazy days of summer, we thought we’d help you with your home maintenance checklist for September. With cooler climates looming, you’ll once again be taking refuge inside, so it's time to give your home a little TLC.
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