Market Overview
August saw a seasonal slowdown in activity, with 36 new listings, bringing the total to 139 active listings. There were 27 reported sales, down from 43 in July, resulting in a sales‑to‑listing ratio of 19% and 5.1 months of inventory.
This dip reflects typical August trends, as many buyers and sellers shift focus to summer travel and leisure. Despite the slowdown, there is still movement across all property types, particularly in the affordable housing segment.
Segment Breakdown
Single‑Family Homes
Listings: 40 (↓ 39 from July)
Sales: 19 (↓ 15 from July)
Price Range:
• Highest: 1067 Roxboro Pl – $1,378,500
• Lowest: 221 Princess St – $425,000
Single‑family homes remain the most active segment, though they experienced the sharpest drop in both listings and sales.
Townhomes
Listings: 10 (↓ 5 from July)
Sales: 4 (↓ 3 from July)
Price Range:
• Highest: TH 18–38 Front St – $830,000
• Lowest: #13–211 Buttertubs Pl – $320,000
Townhomes saw a modest decline but continue to offer attainable options for buyers.
Condos
Listings: 12 (↓ 11 from July)
Sales: 4 (↑ 1 from July)
Price Range:
• Highest: #504–91 Chapel St – $582,000
• Lowest: #201–650 Prideaux St – $390,000
Condo sales ticked up slightly despite fewer listings, suggesting some resilience in this segment.
Market Insights
Affordability remains key: The majority of sales continue to fall within the $400K–$800K range, with only two properties selling above $1M.
Single‑family homes saw the most significant drop in activity.
Condos and townhomes held steadier with smaller declines.
Buyer and seller interest persists, even in a slower month, thanks to Nanaimo’s relative affordability compared to other BC markets.
Key Insights for Clients
For Buyers: August’s slowdown means less competition; good opportunities in the $400K–$800K range. Condos in particular may present negotiating room.
For Sellers: Seasonal slowdowns are common — keep pricing sharp and ensure marketing highlights South Nanaimo’s affordability advantage.
