On May 11, 2019, Royal LePage Nanaimo Realty will host the 11th Annual National Garage Sale in support of the Royal LePage Shelter Foundation.

This event will bring the community together to raise much-needed funds and awareness to help break the cycle of family violence. Proceeds will be directed to Nanaimo’s local women’s shelter, Haven Society:

Where: Royal LePage Nanaimo Realty parking lot

Time: 9 a.m. to noon

Date: Saturday, May 11th

Donations kindly accepted.  We cannot accept mattresses, clothing or large furniture items.  If you are wanting to donate items or volunteer please reach out at 250-713-7064 or email me at: susan@nanaimorealestate4sale.com

Royal LePage Nanaimo Realty’s office is hosting this event because…

Nanaimo

Single family homes

Units sold

2019 – 95
2018 – 99
Down 3%

Average sold price

2019 – $546,656
2018 – $547,956
Change 0%

Days on Market

2019 – 33
2018 – 20
Up 70%

Parksville / Qualicum

Single family homes

Units sold

2019 – 47
2018 – 53
Down 11%

Average sold price

2019 – $590,299.
2018 – $667,542
Down 12%

Days on market

2019 – 51
2018 – 20
Up 154%

Sales of single-family homes in March board-wide dipped by 23 per cent year over year but were up 36 per cent from February.

Last month, 309 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 399 in March 2018 and 227 in February. In the apartment and townhouse categories, sales dropped by 10 per cent and 30 per cent, respectively.

Housing sales have weakened throughout most of the province, which the British Columbia Real Estate Association largely attributes to the mortgage stress test (Guideline B-20). While the B.C. economy continues to be highly supportive of housing demand, the negative shock to affordability and purchasing power created by the stress test is expected to continue preventing many buyers, particularly millennials, from entering the housing market. In the VIREB area, the stress test is helping reduce demand for higher-priced properties and pushing buyers towards less expensive homes. In turn, this is compressing the lower end of the market.

Click here for the full report.