Spring Housing market in Nanaimo

Here in Nanaimo, I feel that the spring market is in full swing. I have been meeting with many clients that wish to list their home in the spring market but simply think it's too early. I ask everyone I speak with - "When do you think the spring market begins?" I constantly get the same answer. They say "Richard, the spring market happens at the end or March or early April." Now I understand that officially that's when spring hits, but let me tell you this.... there are buyers in the air!

 

Since the second week of January I simply have not been able to sit down. Within the last week I have sold two of my listings. The first one was a foreclosure that was on the market for 142 days which is typical. During that time on the market I had over 60 showings of the home. The property ended up getting 3 offers in at the same time! The other listing was online for only 32 days, generated 21 showings and got an accepted offer for almost full asking price.

 

What I'm getting at here is that there is a lot of pent up demand out there and at this given time there aren't a lot of quality single family homes for sale in Nanaimo.

 

I have found that many buyers who left the market for the holiday season are back. This is coupled with new buyers getting into the market. Bottom line is that if you were thinking of getting your home online for the spring market you may want to get it ready sooner than later. 

 

People that wait until April will likely miss the bulk of the buyers. With a limited amount of homes currently for sale in Nanaimo, a well kept home that is priced right will move quickly. I have seen homes last on the market for mere days, some even getting multiple offers. The bottom line is if you wish to sell your home this spring don't wait. You will likely realize more money and a shorter time to sell now versus later.

 

If you would like more information about the current market and how it affects you then please email me or call me direct at 250-739-1730.

 

Richard

 

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