The real estate market has been a little challenging for the last few years. Many homeowners who considered moving felt the market was too uncertain, and many have been waiting it out. As a real estate professional, I’m thrilled to report a positive outlook for those who are thinking about selling.
A Seller’s Market is well underway, in May 2015, the housing sales boasted the strongest spring market since 2007. Year-over-year sales are up by nine per cent. Inventory levels have steadily declined over the last 12 months. Active listings are down 10 per cent, that’s why you have seen Sold Signs go up so quickly. As soon as the For Sale Sign is up, buyers waiting to buy.
Where are these Buyer’s coming from you ask? Albertan’s accounted for 14% , about 55 per cent of home buyers are from Vancouver Island (including Victoria) and 18 per cent hailed from elsewhere in British Columbia, the balance from within Canada and only 2% of homes are bought by buyers from foreign countries.
Vancouver Island is a preferred retirement destination. It comes as no surprise that 60 per cent of homes are bought by retirees, and first time home buyers account for only 20%.
I am sharing this information with you because inventory in Nanaimo is low, and I am hearing from agents and prospective buyers that they just can’t find what they are looking for.
If you’ve thought about selling please give me a call 250-740-0884. I’d love to meet with you for a no obligation and no pressure consultation. I love helping people achieve their real estate goals, let me help you achieve your goals.
Dedicated, Knowledgeable and Experienced