Nanaimo Real Estate Market Update – January 2019

Written By: Graeme MacPhail, REALTOR of Royal LePage Nanaimo Realty. I’d love for the opportunity to earn your business in both buying or selling a property. Give me a call.

The sleepy winter months of Real Estate seem to be at an end and with the fairly mild winter that we have had so far (ignoring the recent cold snap and dusting of snow) seems to have produced what feels like an earlier start to the spring market. With rumours of interest rates potentially dropping, or at the very least not going up in the near future, it feels like a potential recipe for a busy start to the year in what is now a much more balanced market for buyers and sellers.

Regardless of what type of property you own, the average price is up year over year, however, with the more balanced Real Estate market we now have, the average days to sell has also increased. For sellers that now puts even more emphasis on the importance of an appropriate selling and pricing strategy, and for buyers it means a potentially less stressful buying environment where you can protect yourself with all the appropriate subject to clauses without the fear of losing the home in multiple offers.

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