The last 60 days in Nanaimo tell a clear story:

Gillette & Associates Market Trends Jan 2 – Mar 2, 2026

Nanaimo Market Report — Single Family (60-Day Snapshot)

A data-driven look at Nanaimo single-family homes using our 60-day window, plus BC and Canada context to explain the “why behind the numbers.”

1) Nanaimo — Single Family Homes

Nanaimo is moving — but selectively. The market is absorbing well-positioned homes, while aspirational pricing is showing up as longer days on market and price reductions.

Active

295

Current SFD inventory
Pending (60 days)

76

Forward demand signal
Sold (60 days)

39

Closed sales (lagging)
MOI (Absorption)

~5.1

MOI = 2 × Active ÷ (Pending + Sold)

Where the market is tight

$600k–$800k is the most competitive lane — strongest absorption and quickest decision-making when the home is priced right.

Where the market is slower

Above $1M (especially $1.5M+) inventory stacks faster — buyers compare harder and negotiate more.

Floorplans drawing offers

  • Split Entry (fast absorption)
  • Ground Level Entry (Main Up) (strong demand)
  • Ranchers (consistent buyer pull)
  • Main Level + Lower Level (higher volume; slightly longer pace)

Negotiation reality

  • Price drops are common before a listing finds its buyer (often a 3–5% correction).
  • Absorbed homes are aligning closer to assessment than many current actives.

Assessment vs list vs absorbed pricing

Metric (median) What it shows
Original List ÷ Assessment (sold set): ~1.044× Sold homes were typically listed ~4.4% above assessment.
Sold ÷ Assessment: ~1.003× Sales clustered near assessment (in this slice).
Active List ÷ Assessment: ~1.099× Actives sit ~10% above assessment — where friction builds.

Gillette & Associates view: absorbed homes are aligning closer to assessment, while many actives are still priced above that lane. That gap typically resolves through time or modest reductions.

Charts: Nanaimo Single Family (60-day window)

We’ve included only the charts you want shown in this post.

Nanaimo MOI by price band
Graph 1: MOI by price band (absorption method).
Nanaimo inventory vs absorption counts
Graph 2: Active inventory vs Pending+Sold counts by price band.
Nanaimo price drop rate
Graph 3: Share of listings with price drops (Original → Current).
Nanaimo median DOM by area
Graph 4: Median DOM by sub-area (min 5 listings; pending+sold).

2) British Columbia — Provincial Context

BC started 2026 with softer sales and higher inventory — a backdrop that supports Nanaimo’s selective pattern.

BC Sales (Jan 2026)

3,314 MLS® sales

Down 22.9% year-over-year.

BC Average Price

$924,239

Down 1.9% year-over-year.

BC Active Listings

32,626

Up 5.6% year-over-year.

Source: BCREA: 2026 kicks off with weak sales activity

3) Canada — National Context

Nationally, sales softened while new listings rose — the market becomes more rational and comparison-driven.

Canada Sales (Jan 2026)

-5.8% month-over-month

-16.2% vs Jan 2025 (not seasonally adjusted)

New Listings (Jan 2026)

+7.3% month-over-month

More selection → more comparison shopping

Market Balance

~4.9 months of inventory

45% sales-to-new listings ratio

Source: CREA Stats Dashboard