Gillette & Associates February 2022 Market Statistics including average sale price and inventory levels for the Nanaimo real estate market
Gather the latest information on the real estate market in Nanaimo, Vancouver Island, and Canada-wide with our Gillette and Associate Market Updates
Category: Real Estate Updates
Market Intelligence December 2021
A rapidly changing landscape both locally and across Canada remains a top concern.
November 2021 – Real Estate Market Update
Find critical insights on local and national trends to help navigate your Real Estate investments.
Market Snapshot from a National to Vancouver Island and Nanaimo overview
Interest Rates – Consumer Confidence – Migration – Local Market Conditions MARKET COOLS SLIGHTLY FOR SUMMER BUT HIGH DEMAND CONTINUES
Market Report February 2021 – The Correlation between home prices and inflation.
The debate over inflation vs deflation, or even stagflation, continues as we watch a new market emerge. One thought is that you simply cannot have low interest rates, pump untold amounts of new money into a seized-up economy, and expect it not to create inflation. History has shown us this. There is an argument for deflation as we are more of a global economy and some goods are manufactured in other countries at a lower price however Real Estate sits outside of this.
2020 Real Estate Market – Recap
The year that felt like a decade is behind us and February 2020 seems as though it were a lifetime ago. The image of “Persistence of Memory” by Salvador Dali seems fitting. A scientific theory for why time occasionally feels like it decelerates is that time perception is driven by the number of memories formed in a given period and memories are created by experiences that are often new and surprising. This is perhaps why the monotony of driving to work for 20 years passes without you noticing, yet for my kids, summers at the lake seem to pass in a flash because there are an endless collection of new experiences and activities.
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.
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.
June 2020 Market Report
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.
New CMHC Rules For Homebuyers 2020
Starting July 1st, it will be harder for homebuyers to qualify for mortgage default insurance as Canada’s federal housing agency is tightening around insured mortgage applications.
Homeowners of B.C. – Speculation Tax Reminder
A friendly reminder to our clients! You would have received your “declaration” package in the mail mid-January to mid-February and a prompt to claim an exemption from the speculation and vacancy tax. We understand during these current exceptional events our country and the world is experiencing, it may have been put off or forgotten. We would like to this time to remind you that you have until March 31st to claim your exemption.
