We’re sharing this a little early so you’re not waiting for the official board release. The numbers below come from our in-house MLS® solds through August 27, 2025—a fresh read on what’s really happening in Nanaimo.
Let’s start with the pace and the price. Over the last 30 days, Nanaimo recorded 157 sales with a median price around $820,000, ~$394 per square foot, and time-to-sell averaging about a month. Stretch that view to 60 and 90 days, and the medians hold steady ($832.5k and $837k respectively) with $/sqft hovering ~$402 and DOM in the low-to-mid 30s. In other words, the market is flat to slightly softer on $/sqft versus early summer, but buyers are still there—just more selective.
How are Offers Landing?
On average, accepted offers come in ~2–3% below the original list, yet they’re right on top of the current list once a seller has adjusted to today’s level. Practically, that means price strategy matters more than ever: get to the right number quickly and you’ll capture demand at full freight.
Floorplan story
Ranchers continue to punch above their weight. Across the past 30/60/90 days, ranchers lead both sales count and price-per-square-foot (roughly the mid-$500s per sqft over the broader windows). Two-storey formats—main-level entry with a lower level, or ground-level entry with main up—also sell well in the high-$800s to low-$900s median range, but without the rancher premium per square foot. The single-level lifestyle advantage—fewer stairs, simpler living, typically tighter energy costs—keeps showing up in the numbers.
Neighbourhood Heat
If you’re chasing selection, watch North Nanaimo, Departure Bay, South Nanaimo, University District, and Central Nanaimo—they’ve carried the most sales in recent weeks. For price leadership over the past 90 days, Upper Lantzville and Hammond Bay sit near the top. If you’re value-hunting with reasonable speed, Central Nanaimo has been a sweet spot: lower median price (around mid-$600s) and quicker days on market than the city average. One interesting technical tells: Na Extension has posted the highest median $/sqft lately and the strongest sale-to-assessment lift—proof that micro-pockets can run hot even when the broader market is flat.
At the extremes, the highest sale over the past 90 days printed at $2.65M in North Jingle Pot; the lowest came in near $400k in the University District. That spread is typical for a healthy Nanaimo cross-section—entry points still exist, and premium properties can clear when they’re packaged right.
Reading the Tape
Through spring and early summer, sale-to-assessment ratios climbed; August eased a touch. That doesn’t signal a downturn so much as a market that’s sensitive to list price discipline. When a home launches at or is adjusted to the right level, it sells cleanly. When it doesn’t, buyers wait you out.
Next 60–90 days
Expect sideways pricing with pockets of strength. If September brings a visible bump in inventory, DOM could lengthen modestly. If supply stays tight, the fall market should reward well-prepared listings—professional visuals, smart first-week pricing, and quick adjustments if traffic misses the mark. Ranchers should continue to command a $/sqft premium. Family-ready homes in North Nanaimo and Departure Bay look set to keep moving.
If you’re buying: Focus on homes that have just repositioned—this is where offers tend to land at ~100% of current list. If you’re targeting a rancher, be ready: the premium isn’t a blip; it’s a pattern.
If you’re selling: Price to today, not last month. The gap between original and accepted price is where time-on-market lives. Nail the launch (or the adjustment), and you’ll capture full value without the drift.
Expect sideways pricing with micro-pockets of strength (Ranchers, family-ready homes in North Nanaimo/Departure Bay). If inventory bumps in September, days on market could lengthen slightly; if not, expect a list-price-sensitive fall where well-positioned homes sell cleanly and stale listings need prompt adjustments.
What this means for You
For Buyers:
Target homes that have just repositioned—that’s where SP/LP ≈ 100% lives and you avoid bidding wars.
To win a rancher, get pre-approved and move quickly; the $/sqft premium is real.
In Central Nanaimo / Uplands / University District, leverage shorter DOM and higher selection.
For Sellers:
Price to the present. The gap between original and final list is the difference between a quick, clean sale and weeks of drift.
Lead with presentation and timing: professional visuals, first-week exposure, and assertive re-pricing if traffic misses expectations.
Ranchers: emphasize accessibility, energy efficiency, and single-level convenience to defend your $/sqft.
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FAQs
Are Nanaimo home prices falling?
Not meaningfully. Flat on a 90-day view; August’s $/sqft is softer than early summer.
Which areas have the most selection?
North Nanaimo, Departure Bay, South Nanaimo, University District, Central Nanaimo.
What floorplan sells best?
Ranchers—both volume and $/sqft.
