February 2026 Newsletter

by John Cooper

For Nanaimo homeowners, the market has undergone a significant transformation since the start of the year. While December saw a "tight" market where almost every new listing was matched by a sale, January brought an inventory surge, with new listings tripling from their December lows to an average of 36 per week. This influx of homes has pushed the absorption rate down, meaning the market has shifted slightly in favor of buyers who now have more selection and less immediate pressure. However, there is a silver lining: Cancelled and Expired listings have dropped by nearly 50% since October, suggesting that even with more competition, properly priced homes are staying relevant and the market remains stable rather than stagnant.

Most Recent Market Statistics (January 2026)*

Vancouver Island (not including Victoria)

162 single-family homes sold. Average price: $826,255 (up 1% from 12 months to date, this year over last). Single-family unit sales volume is up 2%. Average days on market has stayed the same at 49 days. The average condo sold for $427,481. Condo unit sales are down 5%, 12 months to date. Condos have seen an increase of 14.5% in days on market. Average days to sell is 63 days. The average row/townhouse sold for $574,825. Row/townhouse unit sales are down 7%, 12 months to date. Row/townhouses have seen a decrease of 2% in days on market. Average days to sell is 55 days. Lot sales volume is down 10%. Lot prices have increased by 10%, 12 months to date. Average lot sale price: $489,926.

FULL REPORT HERE.

Nanaimo

41 single-family homes sold. Average price: $850,626 (up 1% from 12 months to date, this year over last). Single-family unit sales volume is up 7%. Average days on market increased by 2.5% to 42 days. The average condo sold for $446,362. Condo unit sales are down 2.5%, 12 months to date. Condos have seen a decreased of 4% in days on market. Average days to sell is 48 days. The average row/townhouse sold for $558,493. Row/townhouse unit sales have decreased by 7%, 12 months to date. Row/townhouses have seen a decrease of 4.5% in days on market. Average days to sell is 42 days. Lot sales volume is down 17%. Lot prices have decreased by 13%, 12 months to date. Average lot sale price: $510,128.

FULL REPORT HERE.

Parksville/Qualicum

24 single-family homes sold. Average price: $961,128 (down 0.18% from 12 months to date, this year over last). Single-family unit sales volume is down 0.69%. Average days on market decrease by 5% to 39 days. The average condo sold for $491,101. Condo unit sales are decreased by 28%, 12 months to date. Condos have seen a increased of 4% in days on market. Average days to sell is 55 days. The average row/townhouse sold for $689,669. Row/townhouse unit sales are down 14%, 12 months to date. Row/townhouses have seen an increase by 21% in days on market. Average days to sell is 58 days. Lot sales volume is down 2.7%. Lot prices have increased by 1%, 12 months to date. Average lot sale price: $536,029.

FULL REPORT HERE.

Cowichan Valley

36 single-family homes sold. Average price: $815,724 (up 3% from 12 months to date, this year over last). Single-family unit sales volume is down 5.5%. Average days on market has stayed the same at 52 days. The average condo sold for $350,714. Condo unit sales are up 1%, 12 months to date. Condos have seen a increase of 30.5% in days on market. Average days to sell is 64 days. The average row/townhouse sold for $562,317. Row/townhouse unit sales are decrease 1%, 12 months to date. Row/townhouses have seen a decreased of 3% in days on market. Average days to sell is 62 days. Lot sales volume is down 31%. Lot prices have increased by 23.5%, 12 months to date. Average lot sale price: $560,160.

FULL REPORT HERE.

Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 105 Timber View Dr a 5 bed, 2 bath, 2,549 sqft South Jingle Pot home listed for $715,000 ($281/sqft), 1114 Thunderbird Dr a 6 bed, 2 bath, 2,720 sqft Central Nanaimo home listed for $769,900 ($283/sqft), 3656 Glen Oaks Dr a 4 bed, 3 bath, 3,456 sqft Hammond Bay home listed for $1,050,000 ($304/sqft).

The 3 homes listed this week with the highest $/sqft are 2405 Lindsey Rd a 2 bed, 2 bath, 1,472 sqft Cedar home listed for $1,299,000 ($882/sqft), 5378 Rutherford Rd a 2 bed, 2 bath, 1,319 sqft North Nanaimo home listed for $894,900 ($678/sqft), 759 Cadogan St a 2 bed, 1 bath, 840 sqft Central Nanaimo home listed for $535,900 ($638/sqft).

The 3 homes priced the most below their assessed value are 2700 Ritten Rd a 4 bed, 3 bath, 3,070 sqft Cedar home listed for $1,850,000 (11% below its tax-assessed value), 909 Brookfield Pl a 3 bed, 2 bath, 1,256 sqft South Nanaimo home listed for $699,000 (10% below its tax-assessed value), 5378 Rutherford Rd a 2 bed, 2 bath, 1,319 sqft North Nanaimo home listed for $894,900 (8% below its tax-assessed value).

The 3 least expensive new listings this week are 115 Haliburton St a 3 bed, 2 bath, 1,160 sqft South Nanaimo home listed for $499,900. 759 Cadogan St a 2 bed, 1 bath, 840 sqft Central Nanaimo home listed for $535,900. 38 Machleary St a 4 bed, 2 bath, 1,709 sqft Old City home listed for $682,000.

The 3 most expensive new listings this week are 2700 Ritten Rd a 4 bed, 3 bath, 1,160 sqft Cedar home listed for $1,850,000. 120 Hawk Point Rd a 5 bed, 5 bath, 3,157 sqft North Nanaimo home listed for $1,799,999. 4684 Ambience Dr a 7 bed, 5 bath, 4,098 sqft North Nanaimo home listed for $1,739,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 2204 Belwood Rd who secured a 13% discount off the $1,199,000 asking price (sale price $1,040,000). The buyers of 3640 Sundown Dr who secured a 13% discount off the $1,278,000 asking price (sale price $1,110,000). The buyers of 2974 Haslam Rd who secured a 10% discount off the $2,650,000 asking price (sale price $2,385,000).

The 3 highest cost per sqft sales this week were 2974 Haslam Rd a 6 bed, 5 bath, 4,320 sqft Cedar home sold for $2,385,000 ($552/sqft), 1072 Silver Mountain Dr a 3 bed, 2 bath, 1,442 sqft South Nanaimo home sold for $718,000 ($498/sqft), 2385 Marlborough Dr a 5 bed, 2 bath, 1,634 sqft Departure Bay home sold for $715,000 ($438/sqft).

The 3 highest sales this week were 2974 Haslam Rd a 6 bed, 5 bath, 4,320 sqft Cedar home sold for $2,385,000. 5760 Linley Valley Dr a 6 bed, 4 bath, 3,521 sqft North Nanaimo home sold for $1,127,500. 3640 Sundown Dr a 3 bed, 3 bath, 3,242 sqft Hammond Bay home sold for $1,110,000.

If you are looking for details on a recent sale not mentioned here, email me and I will send you the sale price.

This Week in John’s Life

It never fails; the moment the BC Assessment notices land in mailboxes, my phone starts ringing! Everyone wants to calibrate those tax valuations for accuracy, and it is a task I’m always happy to help with. If you’ve received yours and want a professional "gut check" on the numbers, just reply to this email or send me a message; I’d love to help you find some clarity.

On the professional front, last week was incredibly rewarding. I had the honor of serving as the real estate expert for two sold-out RBC Estate Planning seminars right here in Nanaimo. It’s a privilege to help people plan for their future in a no-pressure environment, supported by a fantastic team of experts like Alan and Scott at RBC and Parker and Brian at Krog & Co.

Finally, on a personal note, we’ve hit a major milestone: Avery passed her driver’s exam! She is now the proud owner of my vintage 1997 Honda CRV. While I’m so proud of her, it officially marks the end of an era. I no longer have the "job" of driving the girls to school. It’s only been two days, and I have to admit, I miss those morning chats dearly.

Interested in Your Home's Value?

Just like monitoring the value of your investment portfolio, it is important to monitor the value of your real estate holdings. Your BC Assessment Value should never be relied upon for financial decisions. Email me for a personalized market assessment. I respond to every inquiry personally and prioritize open communication with my clients. I'm here to help!

John Cooper
250.619.9207
john@johncooper.ca

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February 2026 Newsletter

by John Cooper

Most Recent Market Statistics (January 2026)*

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