Welcome to the Nanaimo real estate market update September 2025 — our first-out look at how sales, pricing, and buyer activity shaped the month. By Derek Gillette | Helping you understand the why behind the numbers
Nanaimo Real Estate Market Snapshot In One Minute
September Medians: $823,000 sale price • $410/sqft • List-to-Sell (SP/LP): 97.4% • DOM: 28
Value check: Sale-to-Assessment ≈ 103% (most homes sold right around assessed, a touch softer than the 90-day median).
Translation: Buyers are selective. However, well-priced homes are getting close to ask and moving in about four weeks.
Where the Action Landed: Neighbourhood Sales (September only)
North Nanaimo — 25 sales | Median $875k | $416/sqft | SP/LP 97.8% | DOM 24 https://derekgillette.com/nanaimo-neighbourhoods/north-nanaimo/
Steady showings, predictable pricing band. In other words, if you’re prepped and priced right, you’ll see traffic quickly.
Neighbourhoods
University District — 12 sales | Median $705k | $406/sqft | SP/LP 98.0% | DOM 27
Consistent demand from value-driven buyers. As a result, tight comps reward good presentation.
Departure Bay — 8 sales | Median $763k | SP/LP 99.1% | DOM 29
Near-ask results when homes show well. Therefore, sellers who invested in prep were rewarded.
South Nanaimo — 9 sales | Median $640k | SP/LP 95.0% | DOM 52
More negotiation and longer timelines. In contrast, accurate pricing is essential here to avoid long market times.
Cedar — 8 sales | Median $867k | SP/LP 93.8% | DOM 51
Buyers are testing pricing here. Consequently, expect longer run-up times before offers land.
Lower Lantzville — 6 sales | Median $1.11M | $634/sqft | SP/LP 99.6% | DOM 19
Premium pocket: low DOM, strong $/sqft, and near-ask results. Clearly, buyers see this is a micro-market with added value.
Plain-English read: North Nanaimo and University District carried September volume. Meanwhile, Departure Bay priced tightly; South Nanaimo and Cedar needed more time and negotiation. By comparison, Lower Lantzville is acted like a premium micro-market.
Floorplans: What Sold First In Nanaimo
Fastest mover (Sept): Ground-Level Entry with Main Up — 21 sales, DOM 17, SP/LP 97.8%, median $900k.
Buyers like the main living up with day-lighted entry—good value perception.
$/SqFt leader (still): Rancher — 21 sales, $478/sqft, DOM 25, SP/LP 97.6%, median $750k.
Single-level living keeps its premium with downsizers/rightsizers.
Showing fatigue: Main Level with Lower Level(s)
18 sales, SP/LP ~95%, DOM ~43, median $855k. More pushback on price this month; needs sharper positioning and prep.
Balanced performer: Main Level with Upper Level(s)
17 sales, $431/sqft, DOM 21, SP/LP 97.0%, median $871k. A steady performer when priced and marketed correctly.
Why this matters: If you’re listing a Rancher, you can price with confidence (assuming condition and marketing are dialed). If you’re selling a two-level with a basement, September data says buyers negotiated harder—hit the comps, nail the presentation, and avoid creeping DOM.
Price Bands: Where Deals Cleared
The workhorse remains $700k–$900k—that’s where the most buyers showed up and acted.
Above $1.5M, we saw longer DOM and wider bid-ask spreads.
If you’re in that upper band, lead with a clear value story on day one; don’t “find” the market with weekly reductions.
Floorplans: What Sold First In Nanaimo
Fastest mover (Sept): Ground-Level Entry with Main Up — 21 sales, DOM 17, SP/LP 97.8%, median $900k.
Buyers like the main living up with day-lighted entry—good value perception.
$/SqFt leader (still): Rancher — 21 sales, $478/sqft, DOM 25, SP/LP 97.6%, median $750k.
Single-level living keeps its premium with downsizers/rightsizers.
Two Numbers Sellers Ask Me About
List-to-Sell (SP/LP): 97–99% in tighter sub-areas means the market rewards accurate pricing fast; miss by even 3–4% and you risk sliding into week-five negotiations.
Sale-to-Assessment: ~103% citywide for September. It’s a directional check—useful when you compare like-for-like in the same pocket, but not a replacement for comp analysis.
What This Means for You (Next 60–90 Days)
If you’re selling:
In Uplands, Central, Departure Bay, or with a Rancher, you can lean into speed: tight pricing, meticulous prep, strong media → near-ask outcomes are common.
Over $1.5M or two-level with basement? Front-load the value story (upgrades, functionality, lifestyle) and price to today’s comps to avoid a negotiation drag.
If you’re buying:
Best selection sits $700k–$900k.
Watch price-improved relists and two-level with basement formats for negotiation windows—bring tight financing and move decisively when the right home appears.
Method & Source
All data based on MLS® sales through Sept 30, 2025. This data is for information only and must not be relied on unless verified. This is not investment advice. Home – Vancouver Island Real Estate Board
Let’s Put This to Work
If you’d like the per-neighbourhood comp set for your home type—or a pricing session that maps your floorplan against September’s fastest movers—reach out. I’ll bring the data and the why behind it, and we’ll build a strategy that fits your timeline.
This data is for information only and must not be relied on unless verified. This is not investment advice.
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.
