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The VIREB Housing Statistics (April) clearly show the impact of the COVID-19 pandemic on our region’s market.  (The Vancouver Island Real Estate Board (VIREB) represents over 1,000 REALTORS in nearly 90 brokerages from Tofino to the Malahat.)  The sales of single-family homes dropped by 54% year over year.  Last month, 189 single-family homes sold on the MLS system compared to 333 in March 2020 and 412 in April 2019.  Apartment and townhouse sales decreased by 82% and 69% respectively.


Model of a home with a questions mark inside.Currently, the average sale prices in Nanaimo and surrounding area remain stable.  This is great news, albeit, it is taking more time to sell homes.  There are, however, some quick sales still occurring.  This is evidence that homes offered for sale at the correct price, regardless of COVID-19, will always out perform overpriced home listings.  It is exceedingly important now for sellers to listen to the advice of their REALTOR and to not overprice their home...

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