When it comes to buying a home in Nanaimo, you may already know that the market is pretty fierce. Limited inventory makes it difficult to find a home with all of the options and amenities you are looking for. Also consider that there is another buyer likely looking for the same thing. Keeping this in mind, consider now as the ideal time to sell. It’s a busy real estate market and for many home sellers, it is the ideal time to enter the market. What can you expect if you sell your Nanaimo home now?

Outdoor Nanaimo Dining Area With a View

Outdoor Nanaimo Dining Area With a View | Image Provided by VIREB

Are Nanaimo Sellers Seeing Numerous Offers?

One of the key factors we are seeing in this market is that there is an increased number of homes receiving numerous offers for sale. It is likely that you will get multiple offers for the asking price you list. However, it is not likely that you’ll receive a dozen or more offers. That’s a misconception. It is important to consider a few things:

• Pricing your home very high because the market seems to be so limited isn’t going to result in multiple offers but rather in fewer offers or none at all. Proper pricing is essential.

• You may create a bidding war if you price your home at a slightly lower price than what you hope to receive for it – or the current price value.

• It is always a good idea to work with a local real estate agent to ensure you are getting your pricing strategy in line first. Pricing it right is ultimately going to be the defining component to getting the most offers and increasing the sale price.

The Nanaimo real estate market is competitive, and that is a good thing for home sellers. However, it is just as important to consider getting the most for your home without pricing too high, leaving yourself without any bids. Contact Jason Simard and his team of Nanaimo home selling experts to learn what your home could sell for in today's Nanaimo market.