Despite the current fall of housing prices in British Columbia’s Lower Mainland from their excessive heights, a growing number of homebuyers and investors are turning their attention to Vancouver Island real estate. With its comparatively lower property prices, relaxed lifestyle, and strong community ties, the island is quickly becoming a compelling alternative for those seeking both affordability and quality of life.
Tag: Buying
HUGE First-Time Home Buyers GST Exemption
Hey Nanaimo! If you’ve been scrolling through listings, dreaming of that perfect first home by the ocean or tucked away in a quiet neighbourhood, you’re in for some fantastic news. The federal government just dropped a major game-changer that could make Nanaimo homeownership a much more attainable reality for many of you: a brand-new GST […]
First-Time Home Buyers Guide
Steps First Time Home Buyers MUST Make in their Your Path to Homeownership Welcome to the exciting journey of homeownership! At DG & Associates, we’re here to guide first-time home buyers through every step of buying your first home. Whether you’re in your 20s or approaching retirement, our comprehensive guide will help you navigate the […]
Spring Cleaning Outside
As winter’s chill fades away and the first signs of spring emerge, it’s the perfect time to step outside and breathe new life into your outdoor space. While many focus on spring cleaning indoors, don’t forget about the rejuvenation needed outside as well. This season offers an opportunity to refresh your garden and prepare it […]
October 2022 Market Report
Canadian home sales and prices have reached a new high, as overall market conditions continue to trend upwards as they did in July and August.
STRONG POST-COVID RECOVERY CONTINUES
Home sales recorded over Canadian MLS® Systems increased 6.2% in August 2020, raising them to another new all-time monthly record. It has been a strong summer as buyers play catch up following the loss of so much of the 2020 spring market, it really does seem that the spring market shifted into the summer.
August 2020 Market Update
Much like the stock market we are seeing a rebound in sales in the Canadian and local Real Estate sector. In our local market I can almost measure the loss of sales from February to May against the increase in June and July reflecting the short-term demand shock from the housing market shutting down.
Sales Surge in June
Sales around the province have surged back to pre-COVID-19 levels in June. These may be temporary as pent up demand could be a factor helping push this demand forward. I am continually watching and monitoring to see if prevailing trends will remain.
May 2020 Market Update
The question I am asked the most these days is what is the Real Estate outlook for the central Island area? As difficult as it is to predict how long it will take for Canada’s housing market to recover, one thing for certain is that the impact in our area will be less affected.
December 2019 Market Update
2019 Housing Market ends on a positive note with growth expectations for 2020. Sales of single-family homes in December increased by 40% from one year ago and were 24% lower than in November.
Market Conditions Starting to Reflect Seasonal Norms
As 2019 winds up we are witnessing conditions that reflect seasonal norms. 2020 will see a tightening of inventory which will balance supply and demand. With more clarity, interest rates projected to hold, we expect this momentum and sustained demand to carry through into 2020 and the latest outlook from the Conference Board of Canada forecasts real GDP growth of 1.8% for 2020 and 1.9% in 2021.
November 2019 Market Update
Reviewing the market across Canada helps give me a pulse on our local market as many buyers I work with come from out of Nanaimo. In this report, I have included a few more national statistics with home sales in the Canadian MLS® Systems staying somewhat steady in October which followed a string of monthly increases that began in March.
