The indications of a market changing is very clear now. While some sectors of the market-specifically town-home & patio home sales are slow—that only indicates that there are not many retirees moving here “right now”. That can change QUICKLY.
BUT look at the sales of lots—UP 158 % -this year over last.
This is a main indicator of change.
Lots sell-people build: which employs many contractors, and leads to a scarcity of lots, which will drive prices up—next year.
Single family homes prices (& condo’s) will follow as lot prices increase & the cost of developing new lots goes up & up.
When was the bottom of the market??
Please look at the attached graph for September 2014 created by the Vancouver Island Real Estate Board.
This will be the 13th market cycle I been through in Nanaimo—I’m looking forward to it.
Working in real estate ACTUALLY IS FUN !
Call me anytime.