How to read the Nanaimo real estate market
Knowing how long - or how short - a time, that house has been on the market can give you key knowledge when you're selling or buying a home in Nanaimo.
Are you a buyer that has found your dream home that's priced right and in a great neighborhood . . . but you're hesitating to make an offer because the house has only been on the market for 1 day?
This is risky! If the house ticks all of your must-have boxes then jump on it before your competition does.
Think about it this way: The reason you're hesitating to make an offer is because the home just came on the market, and you may feel that it's 'safer' to wait on your offer until the home has a few more 'days on market'.
Thinking that way is sort of like having a stock that you like, but waiting to buy until the price goes up. That might work with a stock because there are always shares traded - but with your dream home, there's only one of those.
And if you don't grab it, rest assured that somebody else will.
Home sellers need to pay close attention to the number of days their home has been on the market as well.
If your home for sale in Nanaimo has been on the market longer than comparable homes, this likely means one of two things - either your home is overpriced, or the appearance of your home is less desirable than the competition.
Both problems are easily solved, the first with a smart competitive price reduction and the second by making some easy fixes that will make your home for sale more desirable to buyers.