Welcome to your August 2025 Market Update with information from the month of July, focused exclusively on South Nanaimo, including the University District, Old City Quarter, and surrounding areas.
Market Overview
July saw a slight uptick in activity with 73 new listings, bringing the total to 157 active listings. There were 43 reported sales, nearly matching June’s 44, resulting in a sales-to-listing ratio of 27%—a sign of continued market stability.
Segment Breakdown
Single-Family Homes
Listings: 79 (↑ 4 from June)
Sales: 34 (unchanged from June)
Price Range:
Highest: 2164 Woodthrush Place – $960,000
Lowest: 724 Nicol St – $412,500
This segment remains the most active, particularly in the $400K–$800K range, reinforcing Nanaimo’s reputation for affordability compared to the mainland.
Townhomes
Listings: 15 (↑ 6 from June)
Sales: 7 (↑ 3 from June)
Price Range:
Highest: #101–308 Hillcrest Avenue – $655,000
Lowest: #30–260 Harwell Rd – $359,900
Townhomes are showing positive momentum, with increased listings and sales suggesting growing interest in this attainable housing option.
Condos
Listings: 23 (↑ 4 from June)
Sales: 3 (↓ 4 from June)
Price Range:
Highest: #602–158 Promenade Dr – $975,000
Lowest: #405–99 Chapel St – $367,500
The condo market is facing headwinds, with declining sales and signs of price adjustments as sellers respond to shifting demand.
Economic Snapshot
Bank of Canada: Rate hold continues amid economic uncertainty.
Unemployment: Up slightly to just over 6%, reflecting seasonal trends and ongoing tariff-related pressures.
