Category Archives: Market Updates

These are Market Statistic updates for the Nanaimo and Cowichan Valley Regions. Lorne Gait — realtor with Coast Realty Group — focusses on Ladysmith Real Estate but is familiar with the larger region and helps Buyers and Sellers from Mill Bay through Nanoose Bay.

Vancouver Island Real Estate Market Stats for January 2017

Vancouver Island Real Estate Market Stats for January 2017

Vancouver Island Realtor Lorne Gait talks about the current Vancouver Island market

Lorne helps you understand the Vancouver Island Real Estate Market Stats for January 2017

The Vancouver Island Real Estate Board or VIREB–has published the Vancouver Island Real Estate Stats for December 31, 2016. 

Contained in these stats is information on the Average House Price for the region, the amount of homes sold and much more.   In this update, we are considering two Real Estate Board areas.  These are the Cowichan Valley Region which goes from Mill Bay through to Ladysmith and the Nanaimo Board area which goes from Cedar up to North Nanaimo.

In many ways, these statistics form a great way to look at the market that has past and to predict the market that will come in 2017.  

A quick look at the stats shows that prices are upward as there is less supply in relation to the amount of demand.  In the Nanaimo, the average home went up from $391,313 in 2015 to $447,336 in 2016.  In the Cowichan Valley, the average home went up from $360,361 in 2016 to $389,947 in 2016.  This upward trend took place in Apartments, patio homes and townhomes for both regions with one or two exceptions.  

Looking forward, it appears the market will continue to rise. The threats to growth are these:  there are new mortgage rules for first time buyers and those with small down payments; and there it the threat of a foreign buyer property transfer tax that will be applied not only to Vancouver, but to the whole of the province.  The opportunities are these:  This is a great time to downsize; And this is a great time to be a first-time Buyer because of low interest rates.  Overall, this is a great place to live.  Folks are coming from Vancouver and Victoria and from other places to live the Vancouver Island lifestyle.

A Video on the Market . . .

 

Download the PDF Reports . . .

Nanaimo Graphstats to December 31, 2016

Cowichan Valley Graphstats to December 31, 2016

These two reports include:

  • Cumulative Residential Average Single Family Sale Price

  • Single Family Units Reported Sold

  • Comparative Activity by Property Type

  • MLS® Single Family Sales Analysis

  • Cowichan Valley – Single Family Sales by Subarea

  • Nanaimo – Single Family Sales by Subarea

  • Gabriola Island

Hopefully you have gained insight on the current st in the Vancouver Island Real Estate market for January 2017. If you have questions about the data detailed in this post or in the reports, or would like to discuss the stats in detail with Lorne, please get in touch.

Wonder what your property is worth in today’s market?

contactus

 

Helping you is what we do. ™

 

 

Vancouver Island Real Estate Blog – Market Update

Vancouver Island Real Estate Blog

A few words about the market in our beautiful Vancouver Island Real Estate Blog area…

Victoria Area Market Update

We are in an amazing Seller’s Market!  This is a great time to Sell and Buying in a rising market that might give you good appreciation on your investment.

The paragraph below is from an article published earlier in the week in the Victoria Times Colonist.

Greater Victoria’s real estate market continued its strong pace in May as the average price of a single-family house rose to a record $763,517 and the number of properties sold blasted to a new high. The latest average price in the capital region is up by 17.6 per cent from $649,431 a year ago. It’s a seller’s market as buyers face rising prices and multiple offers in hot spots such as Fairfield, Oak Bay and Saanich East. Benchmark prices, calculated by the Victoria Real Estate Board based on a “typical” house, also give a sense of what’s happening. For the entire region, the benchmark was $584,700 in May.

Link to the Full Article

Lorne Gait's Vancouver Island Real Estate Blog
Lorne Gait’s Vancouver Island Real Estate Blog

 

Lorne is always willing to talk about real estate.  Let’s Get in Touch!

Vancouver Island Real Estate Market Stats for March 2016

Vancouver Island Real Estate Market Stats for March 2016

Vancouver Island Realtor Lorne Gait talks about the current Vancouver Island market

Vancouver Island Real Estate Market Stats for February 2016
Vancouver Island Real Estate Market Stats for March 2016

Lorne helps you understand the Vancouver Island Real Estate Market Stats for March 2016

April 11, 2016 — Our Real Estate Board, VIREB–has published the Vancouver Island Real Estate Stats for March 2016.  The stats I discuss on are the average numbers for the Cowichan Valley region in Single Family Homes, which also include the localized areas of Ladysmith, Saltair and Chemainus. 

I also include the stats for the Nanaimo region, which includes the rural area of Cedar and Yellow Point.  These market stats take into consideration the Vancouver Island Real Estate Market through the end of March 2016, and compare to the monthly stats of this time last year in 2015.

We are now three full months into 2016 and the market has continued it’s steady upward climb.  The Nanaimo market has seen the average Single Family Home price increase from $414, 828 in February to $427, 786 in March 2016.

The Cowichan  market has seen a price increase as well in Single Family Homes from $392,153 in March 2016 compared to $350,449 this time last year. There is quite a lot less inventory this year and much more buyers.

It will continue to be a strong market for those who want to more forward with other opportunities, move up the property ladder, relocate or downsize.  It is also a good time to buy for those who want an investment that is continuing the upward trend in the market with no signs of slow down.

The published market stats for March 2016 are available below in two separate links, one of the Nanaimo region and the other for Cowichan.

These two reports include:

  • Cumulative Residential Average Single Family Sale Price

  • Single Family Units Reported Sold

  • Comparative Activity by Property Type

  • MLS® Single Family Sales Analysis

  • Cowichan Valley – Single Family Sales by Subarea

  • Nanaimo – Single Family Sales by Subarea

  • Gabriola Island

Download the PDF Reports:

03-Mar 16 Nanaimo Graphstats

03-Mar 16 Cowichan Valley Graphstats

Hopefully you have gained insight on the current stats in the Vancouver Island Real Estate market for March 2016. If you have questions about the data detailed in this post or in the reports, or would like to discuss the stats in detail with Lorne, please get in touch.

Wonder what your property is worth in today’s market?

contactus

 

Helping you is what we do. ™

 

 

Vancouver Island Real Estate Market Stats for February 2016

Vancouver Island Real Estate Market Stats for February 2016

Vancouver Island Realtor Lorne Gait talks about the Vancouver Island Market

Vancouver Island Real Estate Market Stats for February 2016
Vancouver Island Real Estate Market Stats for February 2016

Lorne helps you understand the Vancouver Island Real Estate Market Stats for February 2016.

March 7, 2016 — Our Real Estate Board, VIREB–has published the Vancouver Island Real Estate Stats for February 2016.  The stats I focus on are the average numbers for the Cowichan Valley region in single family homes, which includes Ladysmith, Saltair and Chemainus.  I also discuss the stats for the Nanaimo region, which includes Cedar.  These stats take into consideration the Real Estate Market through the end of February 2016, and also compare to the monthly stats of this time last year in 2015.

We are now two months in 2016 and the market has spilled over from 2015 and is continuing its upward climb.  The Nanaimo market has seen a 5% ($28,772+) increase in average single family home price in the last month alone, whereas the Cowichan  market has seen a 6% ($42,879+) increase in single family homes. There is quite a lot less inventory this year and much more buyers.

It will continue to be a good time to sell for those who want to more forward with other opportunities.  It is also be a good time to buy for those who want an investment that is on continuing on the way up.

In the Nanaimo region, the average sell price for a Single Family Home in February was $414,828. In the Cowichan region, the average single family home was $395,666. Learn more about these figures in the downloadable reports below…

In these 2 reports, you will see:

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Download the reports:

02-Feb 16 Nanaimo Graphstats

02-Feb 16 Cowichan Valley Graphstats

We hope you have gained some insight on the current stats in the Vancouver Island Real Estate market for February 2016.

Wonder what your property is worth in today’s market?

Let’s Get in Touch.   Please let Lorne–a Ladysmith Real Estate expert help you find answers at lorne [at] lornegait [dot] com

Vancouver Island Real Estate Market Stats for January 2016

Vancouver Island Real Estate  Market Stats for January 2016

Associate Broker Lorne Gait is here again to help you understand the current Vancouver Island Real Estate Stats.

Ladysmith Real Estate Expert — Lorne Gait talks about the Vancouver Island Real Estate Market Stats for January 2016

Lorne Gait helps you understand Vancouver Island Real Estate
Vancouver Island Real Estate Market Stats for January 2016

Our Real Estate Board–VIREB–has just published the Vancouver Island Real Estate Stats for January 2016.  The ones I focus on are the ones for the Cowichan Valley real estate region, which includes Ladysmith, Saltair and Chemainus.  And also the ones for the Nanaimo region, which includes Cedar.  These stats take into consideration the Real Estate Market through the end of January 2016.

Lorne Gait — a Realtor serving the broader regions but focusing on Ladysmith real estate market — shares his view on the current market conditons…

Can you believe it?  We are already over a month into 2016 and the market has stayed strong throughout the winter.  It is a great time to be listing since we are moving into a sellers market. There will be less inventory this year and more buyers.  Looking at the Graph stats above, the market is 5% up from this time last year in Nanaimo, and up 6% in the past 12 months to date in the Cowichan Valley.

It will be a good time to sell for those who want to more forward with other opportunities.  It will also be a good time to buy for those who want an investment that is on the way up.

In the Nanaimo region, the average sell price for a Single Family Home last month was $386,056. In the Cowichan region, the average single family home was $352,787. Learn more about these figures in the downloadable reports below.

In these 2 reports, you will see:

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Download the reports:

01-Jan 16 Cowichan Valley Graphstats

01-Jan 16 Nanaimo Graphstats

We hope you have enjoyed these Vancouver Island Real Estate Stats for January 2016

Wonder what your property is worth in today’s market?  Let’s Get in Touch.   Please let Lorne–a Ladysmith Real Estate expert help you find answers at lorne [at] lornegait [dot] com

Want to kick out Foreign Real Estate Buyers in Canada?

Do you want to kick out foreign real estate Buyers in Canada?   Before you make up your mind, check out this article by Martin Armstrong on the Australian decision to kick out foreign owners . . .  LINK to Article

Canadian Foreign Real Estate Buyers

Martin’s conclusion is that money is fleeing and will flee from places that want to restrict foreign investment.  He is a bit inflammatory about the political left.  I am not sure I am quite there, but his fiscal understanding is right on.  Australia and Britain are and will struggle because they are shunning foreign investment.  The USA and places like BC in Canada are doing well comparatively speaking because of foreign investment.

I hope each of us will think this through carefully.  If there are no or fewer high end Foreign Real Estate Buyers in Canada, then there will be fewer people to buy the next level down and so on and so on.  Really think this through.  Certainly we are able to create lower cost housing in real estate zones in our area.

 

 

 

Vancouver Island 2016 Real Estate Market Update

Vancouver Island 2016 Real Estate Market Update

This Vancouver Island 2016 Real Estate Market Update is from statistics and information provided to Brokers at the Vancouver Island Real Estate Board (VIREB).

The Vancouver Island Real Estate Board November 2015 stats are now available. These stats take into consideration the Real Estate Market through the end of December. A year end gives us all a great opportunity to consider the current market and  forecast for the 2016 Real Estate Market on Vancouver Island.

In the VLOG, Lorne has briefly summarized the current market update of Q4 of 2015 and Q1 of 2016.  The gist of the market is that there are less listings and more Buyers in our market.  This is putting pressure on pricing.  Prices are rising and should rise into the new year on Vancouver Island.

Merry Christmas and a Happy New Year!

Hot off the press . . . Lorne Gait’s Ladysmith 2015 Real Estate Market Forecast

Ladysmith Real Estate Expert — Lorne Gait talks about the Market for 2015

The Vancouver Island Real Estate Board December 2014 stats are now published for the Cowichan Valley Real Estate Region, which includes Ladysmith, Saltair and Chemainus. Also available are the stats for the Nanaimo region, which includes Cedar.  These stats take into consideration the Real Estate Market through the end of December.   But a year end gives us all a great opportunity for to consider the Ladysmith 2015 Real Estate Market Forecast.

First, Let’s consider the past stats.  In these 2 reports, you can see:

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Download the 2 reports:

Nanaimo Real Estate Statistics for 2014

Ladysmith Real Estate Statistics for 2014

Lorne’s take on things  moving forward . . . .  IN WRITING

A Happy New Year to you.  Can you believe it?  It is already January 2015.    It is a great time to plan ahead to consider our real estate goals for this New Year.  Looking at the Graph stats above, the Market is clearly headed upward.  There is the same or a bit less supply in most categories of the market.  There are more Buyers for sure.  It will be a good time to sell for those who want to more forward with other things.  It will be a good time to buy for those who want an investment that is on the way up.

Lorne’s take on things moving forward  . . . IN VIDEO


If you need help, Please let Lorne–a Ladysmith Real Estate expert help you find answers at lorne [at] lornegait [dot] com

Hot off the press . . . Ladysmith Real Estate Statistics (To October 2014)

Ladysmith Real Estate Expert — Lorne Gait talks about the Market

The Vancouver Island Real Estate Board October 2014 stats are now published for the Cowichan Valley Real Estate Region, which includes Ladysmith, Saltair and Chemainus. Also available are the stats for the Nanaimo region, which includes Cedar.  These stats take into consideration the Real Estate Market through the end of October. Lorne Gait — a realtor serving the broader regions but focusing on Ladysmith Real Estate — shares his view of things.

In these 2 reports, you can see:

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Download the 2 reports:

10-oct_14_cowichan_valley_graphstats 10-

oct_14_nanaimo_graphstats

Lorne’s Take on Things . . . .

Can you believe it?  is already mid November.   Soon we will be in 2015.  It is a great time to plan ahead to consider our real estate goals for the coming year.  Looking at the Graph stats above, the Market is clearly headed upward.  There is a bit less supply in most categories of the market.  There are more Buyers for sure.  It will be a good time to sell for those who want to more forward with other things.  It will be a good time to buy for those who want an investment that is on the way up.   Preparing for 2015 . . . this is a great time for a fresh market analysis.

If you need help, Please let Lorne–a Ladysmith Real Estate expert help you find answers at lorne [at] lornegait [dot] com

Hot off the press . . . Ladysmith Real Estate Statistics for 2013 third quarter

Ladysmith Realtor Lorne Gait’s 2013 Third Quarter Market Update

The Vancouver Island Real Estate Board September 2013 stats are now published for the Cowichan Valley Real Estate Region, which includes Ladysmith, Saltair and Chemainus. Also available are the stats for the Nanaimo region, which includes Cedar.  These stats consider the Real Estate Market through the end of September.

The Stats themselves

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Download the 2 reports:

Nanaimo Real Estate Stats

Cowichan Valley Region Real Estate Stats

The Real Estate Board News Release

Check out the Vancouver Island Real Estate Board’s own analysis of the Third Quarter results. VIREB NEWS RELEASE

Lorne’s Take on Things . . .

Mid Vancouver Island is a great place to live. We are in a balanced market. It is an great time to Buy. It is an ok time to Sell. As a resident of the area, I’ll be willing to work with you to accomplish your real estate goals.

If you need help, let’s get in touch.  I can help you find answers.  My phone is 1-250-245-0545.  My email is lorne [at] lornegait [dot] com.