Are you currently looking for, or preparing to purchase a home in British Columbia? Have you considered real estate in Nanaimo, BC? Vancouver Island's second largest city, Nanaimo has a great deal of potential in terms of property that can serve as a family home, a vacation home, a rental property, or an investment property. Learn more about the opportunities that await home shoppers in Nanaimo.
Nanaimo Home's Strait of Georgia View | Image Provided by VIREB
What Nanaimo Has For Buyers
While Nanaimo is categorized as a "small city", it has everything in terms of recreation, work opportunities, and natural beauty that anyone could want. Heralded in a Condé Nast publication as "the perfect blend of work and play", the city offers outdoor activities ranging from golf to skiing. Shopping opportunities are abundant, as Nanaimo features one of the island's largest malls. The employment outlook is positive as well, with hundreds of job openings ranging from sales and technology to the construction and health care industry. All of this plus a thriving nightlife, a vibrant culture and arts scene, and ample opportunities for outdoor activity make Nanaimo a city you certainly need to consider. This city has forty-seven highly regarded schools ranging from elementary to college, as well as several trade schools. If you need more convincing, have we mentioned that Vancouver Island's climate is the most mild in all of Canada? But, before you pack your bags, the question again arises. What's Nanaimo's real estate market like?
As one of Vancouver Island's most densely settled areas, Nanaimo has a nice mix of apartments, condominiums, and single family homes. Those looking for homes for sale will learn that such residences have among the highest property values and resale rates in the country, making Nanaimo homes not just desirable places to live, but great investments as well. Take a closer look at some of Nanaimo's most popular neighbourhoods.
Extension
Extension is a reclaimed mining site that today serves as a housing community. Only a few miles from downtown Nanaimo, the community features close access to a variety of outdoor recreation activities as well as the Vancouver Island University. Homes in Extension range in price from the high $100,000s to about $500,000, with the recent average at just under $350,000.
Central Nanaimo
Central Nanaimo real estate features affordable condominiums at under $100,000, and single family homes ranging from $200,000-$400,000. The median single family home price here is in the upper $200,000s. There are opportunities for duplex purchasing in this area, allowing for resident/landlord opportunities. Although diminishing, there are opportunities for property development as well. Central Nanaimo is only minutes from golfing, shopping, and the university.
North Nanaimo
Available real estate here includes quite a variety. North Nanaimo offers trailers, condos, single family homes, and several planned townhouse communities, the first wave of which is now available for residency. This community has the greatest price range, from less than $100,000 to over $700,000, with the median in the $350,000 range. Attractions here include Neck Point Park and Piper's Lagoon, right on North Nanaimo's popular waterfront. Current and future townhouse developments will be in close proximity and with easy access to Nanaimo's Island Highway.
Whether you are ready to move, or have simply been considering a home in Nanaimo, contact Sims Real Estate today to discuss your real estate goals and needs.