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.
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.
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.
