Tag: Nanaimo
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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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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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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: 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…
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In the Loop: September 2023 Real Estate Market Stats
Quiet September Market Favours Buyers The September 2023 Real Estate market stats show that last month, there were 266 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, an 11 percent increase from one year ago (239) and down by 18 percent from August 2023 (324). Sales of condo apartments in…
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In the Loop: April 2022 Real Estate Market Stats
The April 2022 Nanaimo Real Estate and area inventory is inching up but still far from ideal. Inventory in the Vancouver Island Real Estate Board (VIREB) area is slowly inching up but is still far from ideal. Active listings of single-family homes rose by nine per cent from March 2021 and by 60 per cent…
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In the Loop: December 2021 Real Estate Market Stats
2021 ends with near-record sales and record-low inventory The December 2021 Nanaimo Real Estate market stats show that the Vancouver Island Real Estate Board (VIREB) recorded 11,045 unit sales (all property types) in 2021, close to the 12,014 and 11,341 unit sales seen in 2016 and 2017. It is a remarkable outcome notwithstanding since it…
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In the Loop: September 2021 Real Estate Market Stats
The housing market in the Vancouver Island Real Estate Board (VIREB) area finished summer the way it began, with historically low inventory and rising prices. The September 2021 real estate market stats for Nanaimo show us that active listings of single-family homes were 47 percent lower last month than in September 2020, while VIREB’s inventory…
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In the Loop: August 2021 Real Estate Market Stats
For the August 2021 real estate market stats, we continue to see how increasing housing supply is the key to affordability. Historically low inventory in the Vancouver Island Real Estate Board (VIREB) area continues to plague potential buyers and hamper sales. Active listings of single-family homes and row/ townhouses are 50 per cent lower than…