Nanaimo Sellers Guide

Nanaimo is a larger, modern city situated in the heart of Vancouver Island. It provides a wide range of benefits to residents including its abundant outdoor activities, commercial opportunities, and quality schools. For those hoping to sell real estate in Nanaimo, the good news is the market is moving along steadily and finding buyers is more than possible to do.

About Nanaimo

A few key things can help be selling points for those with real estate in Nanaimo to sell. It is a traditional West Coast community with ample recreation, modern lifestyles, and impressive views. The city is very easy to access from Vancouver by plane or ferry. What's more, this area is well known as a tourism destination. This opens the door for even more selling opportunities for property owners.

As the second largest city on Vancouver Island, it offers an interesting combination of urban lifestyle in a vibrantly beautiful natural setting. The downtown area offers many commercial opportunities including the Vancouver Island Conference Centre and the thriving Fitzwilliam Street area.

Real Estate Trends in Nanaimo, BC

Because of its diversity and roughly 90,000 people, the city of Nanaimo offers a wide range of real estate options for home buyers. Currently we are seeing that Nanaimo is sectioned in to three parts of the market that are performing in different ways:

• In the price ranges under $500,000 the market remains more of a sellers market with many more buyers and less properties to choose from. This is the price ranger where more people qualify to purchase a home so naturally it will be a busier section of the market. Even in this part of the market where homes move quicker it is still important to price a home well otherwise you will find yourself hanging around on the market longer than you would like. 
• $500,000-$650,000 is more of a balanced market. Well priced homes in this price range will still move at a reasonable rate. However as their are less buyers who qualify to purchase in this price range those who do have more choices and may look at several homes before making a choice on the property that suits their needs closest. Homes that have additional accommodations in this price range remain very popular and you will be competing against lots of new construction homes with suites in these price ranges.
• In the price range of $650,000 and up we are without question in a buyers market range. With a large amount of inventory on the market and even fewer buyers able to purchase at these prices you can expect a home sale to take longer as buyers tend to have lots of inventory to sift through. With that said these are the price ranges that offer some of the most desirable properties and locations that Nanaimo has to offer. It is so crucially important to have a strong game plan going to market with your home and we stress the importance of having innovative marketing techniques to maximize your exposure to get the sale price you desire when selling a home in these price points.

Nanaimo real estate values are growing. The area remains affordable enough, though, to attract a large number of home buyers allowing for faster than average sale times. Depending on the location of the property, such as those overlooking the Strait of Georgia or those with mountain views, will fetch significantly more than inland properties. The demand for quality properties is on the rise from locals as well as those from around the West Coast looking for a piece of paradise to call home. Vancouver Island's allure, natural beauty, and growing economic area are all key reasons this area continues to see growth in sales.

Planning on selling a home on Vancouver Island?

If you are looking to potentially sell a home in Nanaimo under our current market conditions you should know that this can be a very enjoyable experience with less stress than you would experience in many other markets across Canada. We are lucky to live in such a thriving community that so many people from across Canada want to move to. There is a lot more involved than posting a home up on MLS and waiting for the calls to come in when selling in today's environment. Technology and progressive marketing tools play a huge role in selling a home quicker and for more money. If you are considering selling a property on Vancouver Island we encourage you to connect with our team to learn more about our process in selling a property that has been the reason why our clients have been able to sell homes quicker and for more money than the average.