Vancouver Island Real Estate Market Update

Beautiful Vancouver Island Derek Gillette

Real Estate has been deemed an "essential service", as having shelter is one of life's necessities. Currently, we are seeing many situations where a client has already sold their home and now must find a new place to live or a client has to sell their existing home to finance the new home they have previously agreed to purchase. These situations and more have created unique challenges. To meet the needs of our clients, we have taken steps to ensure their expectations are met as safely and efficiently as possible while continuing to adhere to current COVID-19 safety regulations.

Working and socializing online has become a new normal, and now more then ever, people are relying on technology to stay connected, whether it's to communicate with family or to receive digitally enabled services. 

One thing we, at Gillette & associates, are incredibly proud of is our unquestionable leadership in the realm of online Real Estate marketing. Our unwavering commitment to streamlining the digital real estate experience, which we began over a decade ago, has proven invaluable in this unprecedented time. We are also providing support and sharing our marketing systems to help local Realtors®, who are currently experiencing challenges, make a successful transition into this new online domain. 

Creating our innovative real estate marketing processes has been one of my passions over the past 26+ years. My unwavering commitment has been to present an artistically, crafted online home gallery display that is highly interactive and engaging to our clients. Real Estate is an emotional and aesthetically driven purchase primarily based on lifestyle needs. Logic and numbers play an essential role yet are not the real driving factor. One of my favourite books, "Predictably Irrational," which I highly recommend, is based on these factors.

Over the next few weeks, Gillette & associates will be outlining our latest program, "Bringing Real Estate to you." We will be showcasing our new and online experience and sharing the details of our latest proven marketing approach reserved exclusively for our clients. 

This past month, I have received many calls from individuals wanting to know what I think Real Estate's sales and values are going to do. For the first time in my career, I haven't given my predictions and have not provided a market snapshot or posted the latest sales. During these extreme conditions, regular indicators can be misleading when taking future trends into account. The information we receive is a lagging indicator, and now more than ever, we can't necessarily rely on the past to predict the future. For those interested in the general market stats for April I have included a snapshot below but keep in mind the price is based on a moving average and may not truly reflect today's values. The one thing I will say is our local market will bounce back. In my opinion, we live in one of the most desirable places in Canada. Vancouver Island will remain a highly sought after location offering a lifestyle beyond compare. Many people I speak to are looking in our direction as they evaluate plans for the future, and more than ever, I feel so lucky to have made Nanaimo my home. I have over the past several weeks discovered a new appreciation for the natural splendour that surrounds us, from our spectacular waterfront to the seemingly endless forested trails. While also experiencing a profound gratefulness for the health and wellbeing of my own family and friends. 

Right now, the most important thing you can do is take care of yourself and your loved ones. If, for whatever reason, you are feeling overwhelmed, we have linked below several resources we'd like to share with you.

Be well and safe,

Derek

Government of Canada’s COVID-19 website

Canadian Mental Health Association

BC Center for Disease Control

World Health Organization

Market Report Derek Gillette

Market Report Derek Gillette

Market Report Derek Gillette

Market Report Derek Gillette