March 2021

Found 1 blog entry for March 2021.

The first quarter of 2021 has been a mad scramble for people listing and buying investment properties in Nanaimo. This was already an over-charged segment of the market through 2020 (Covid caused a lot of people to put their money into real estate outside of bigger cities), but in 2021 it's been even more frenzied.

In 2020 we saw a seller's market, with homes selling within a week or two. But in 2021, the following is a typical sight:

  • Home is listed on a Tuesday
  • Showings are only allowed Wednesday, Thursday, and Saturday.
  • Showings can only be thirty minutes long (to accommodate large numbers of buyers)
  • Offers reviewed on Sunday afternoon
  • Big bidding war ensues

This activity is fueled in part by investors wanting to buy a home to

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