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In the Loop: August 2024 Market Statistics
Favourable Conditions Trending Towards Buyers’ Market The Vancouver Island Real Estate Board (VIREB) recorded 662 unit sales board-wide and 4,520 active listings (all property types) on the MLS® System in August 2024. In the single-family category (excluding acreage and waterfront), 333 homes sold in August, up three percent from one year ago and down eight…
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In The Loop: July 2024 Market Statistics
Quiet Housing Market Closes out July The Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales board-wide and 4,559 active listings (all property types) on the MLS® System in July 2024. In the single-family category (excluding acreage and waterfront), 363 homes sold in July, down 11 percent from one year ago and up one…
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The Nanaimo Rotary Bowl
Discover the Vibrant Community Hub: The Nanaimo Rotary Bowl The Nanaimo Rotary Bowl, also known as the Rotary Bowl Stadium – a versatile and dynamic multi-purpose venue that stands as a pillar of the Nanaimo community. Nestled in the heart of Nanaimo, this stadium serves as the epicenter for an array of sports and community…
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Exploring Vancouver Island University
Exploring Vancouver Island University (VIU): A Beacon of Learning and Opportunity in Nanaimo Nestled in the picturesque hub city of Nanaimo, Vancouver Island University (VIU) stands as a cornerstone of education and opportunity on Vancouver Island. As a retired university professor now part of the Scott Parker Real Estate Team, I’ve had the privilege of…
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In The Loop: June 2024 Market Statistics
Waiting is the theme of VIREB’s Summer Housing Market The Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales boardwide (all property types) on the MLS® System in June 2024. In the single-family category (excludingacreage and waterfront), 359 homes sold in June, down 15 percent from one year ago and 12 percent from May. Sales…
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The Future of the Nanaimo Real Estate Market: A Five-Year Outlook
Historical Trends and Market Resilience When the market softens, Nanaimo tends to experience an increase in the time properties remain on the market rather than significant price declines. Homes may sit longer, and the percentage of properties that don’t sell increases. Over the past decade, Nanaimo’s real estate market has demonstrated consistent growth and remarkable…
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In The Loop: May 2024 Market Statistics
The May 2024 real estate Market Stats for Nanaimo show us that VIREB’s inventory of single-family homes rose by 46% in May, while active listings of all property types are up by 33% board-wide…
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Nanaimo Annual Garbage Cleanup
I recently volunteered with the Nanaimo Daybreak Rotary Club for their annual Earth Day garbage cleanup. It’s my second year attending this event, and it’s become one of my favorite volunteer activities. The inspiring people I meet there always bring great energy and a positive attitude, which lifts my spirits and makes me love contributing…
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In The Loop: April 2024 Market Statistics
More Inventory Benefits Both Buyer & Sellers The Vancouver Island Real Estate Board (VIREB) recorded 741 unit sales boardwide (all property types) in April 2024. In the single-family category (excluding acreage and waterfront), 376 homes sold in April, down two percent from one year ago and up 29 percent from the previous month. Sales of…
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30-Year Amortization for First-Time Buyers
The federal government has proposed some new housing affordability measures geared toward making the Canadian housing market more affordable for first-time buyers. Among the new measures, first-time buyers will have the option to take out a 30-year amortization on their mortgage, and the first-time Home Buyer’s Plan RRSP withdrawal amount is being increased to $60,000,…
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In The Loop: March 2024 Market Statistics
MARCH HOUSING MARKET CALMER THAN EXPECTED Last month, the Vancouver Island Real Estate Board (VIREB) recorded 655 unit sales board-wide (all property types). In the single-family category (excluding acreage and waterfront), 291 homes sold in March, down 22 per cent from one year ago and up 15 per cent from February 2024. Sales of condo…
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Celebrating Ken Hammer: Recipient of the 2023 REALTORS® Care Award
In every community, there are individuals who go above and beyond, making significant contributions that leave a lasting impact. Ken Hammer is such an individual, whose dedication to serving others is not only one of his values, it has also earned him the prestigious 2023 REALTORS® Care Award. Throughout the year, many REALTORS® in Nanaimo…
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In The Loop: February 2024 Market Statistics
February Sees Significant Sales Increase The February 2024 Market Statistics show us that last month, 254 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, up 15 percent from one year ago and 67 percent from January 2024. Sales of condo apartments in February came in at 68, increasing by 11 percent…
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In The Loop: January 2024 Real Estate Market Statistics
Normal January kicks off 2024 with an Optimistic Outlook The January 2024 Real Estate Market Stats show us that last month, 152 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, down six percent from one year ago and up slightly from December 2023. Sales of condo apartments in January came in…
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In The Loop: December 2023 Real Estate Market Statistics
Lacklustre December Closes Out 2023 The Vancouver Island Real Estate Board (VIREB) recorded 7,297 unit sales in 2023 compared to 11,045 in 2021 and 7,810 in 2022. High-interest rates are primarily to blame for the weaker sales, as there was significant demand, but many buyers opted to wait for an anticipated 2024 rate cut. Last…
