British Columbia Canada
August 2021 Nanaimo real estate market stats highlight again that increasing housing supply is the key to affordability. This is one of the reasons why real estate boards continue to advocate with policymakers at the provincial and regional levels to speed up the development process. Municipalities need to expand supply more quickly to meet the high […]
Slightly cooling real estate market may be due to historically low inventory! Nanaimo Real Estate Market Last month, the Vancouver Island Real Estate Board (VIREB) saw sales of 450 single- family detached properties compared to 531 in June, a decrease of 15 per cent. In the condo apartment category, sales dropped by seven per cent […]
June market cools slightly but high demand continues. The blistering heat that finally gave way to slightly cooler temperatures mirrors what is happening in our housing market, as scorching real estate activity continued its cooling trend in June. Market Stats Last month, the Vancouver Island Real Estate Board (VIREB) saw sales of 533 single-family detached properties compared […]
The market calms slightly, but continues to sizzle! The Vancouver Island Real Estate Board (VIREB) reports that the housing market calmed slightly in May but is still the strongest experienced since 2016. May saw sales of 534 single-family detached properties compared to 590 in April, a dip of nine per cent. In the condo apartment category, […]
There was little relief for frustrated buyers in April despite an increase in active listings and little relief for frustrated buyers in the April 2021 Nanaimo Real Estate market. Inventory of single-family homes and condo apartments rose by eight per cent and 16 per cent, respectively, but active listings of townhouses dropped by eight per […]
More Inventory on the Market March 2021 Nanaimo Real Estate saw a slight increase in inventory but still no relief for buyers in Nanaimo. Lack of inventory is frustrating potential buyers in the VIREB area, with demand for homes far exceeding supply. While active listings in March were higher than in February, inventory is still at […]
Lowest Inventory on Record! Buyer demand in the VIREB area continues to outstrip supply, contributing to the lowest inventory on record for the board. Active listings of single-family detached properties (excluding acreage and waterfront) dropped to 394 in February, down six per cent from January. There were 169 condo apartments for sale last month compared to […]
Canadian real estate surprised everyone in 2020. While the markets closed the year with red-hot, record-breaking activity, the year brought much uncertainty, financial upheaval, renewed forecasts of a bursting housing bubble, and other news that will likely continue to impact market activity in 2021. With the first week of the new year behind us, here’s […]
Lowest Inventory on Record Continues in Nanaimo The Vancouver Island Real Estate Board (VIREB) reports that sales of single-family homes in January increased by 66 per cent board-wide from one year ago but were five per cent lower than in December. Last month: 286 single-family detached properties (excluding acreage and waterfront) sold on the MLS® System […]
Lowest Inventory on Record Closes Out the Year The Vancouver Island Real Estate Board (VIREB) reports that sales of single-family homes in December increased by 34 per cent from one year ago and were 28 per cent lower than in November. Last month, 302 single-family detached properties (excluding acreage and waterfront) sold on the MLS® […]