Weekly Real Estate Take - February 2026 - Week 4

by John Cooper

The February data confirms that Nanaimo has officially shifted from a 'Buyer’s Market' in January back into Balanced Territory. We ended the month with a 40% absorption rate, which is a healthy, sustainable pace for our region. For a Nanaimo homeowner, the most important takeaway is that sales volume is trending up—nearly 50% higher than last month—but buyers are still rejecting overpriced or poorly presented homes, as evidenced by the 61 listings that expired or were cancelled this month. If you are planning to list in March, you are entering a market with motivated buyers, but you are competing in a 'quality-first' environment where accurate pricing is your most effective marketing tool.

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


Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 2258 Ashlee Rd a 4 bed, 3 bath, 3,184 sqft South Jingle Pot home listed for $885,000 ($278/sqft), 409 Howard Ave a 6 bed, 4 bath, 2,769 sqft University District home listed for $789,900 ($285/sqft), 249 Victoria Rd a 5 bed, 3 bath, 2,427 sqft Old City home listed for $729,000 ($300/sqft).

The 3 homes listed this week with the highest $/sqft are 4080 Salal Dr a 3 bed, 2 bath, 1,197 sqft Uplands home listed for $729,900 ($610/sqft), 6970 Shale Rd a 3 bed, 3 bath, 2,506 sqft Lower Lantzville home listed for $1,495,000 ($597/sqft), 7490 Copley Ridge Dr a 5 bed, 4 bath, 3,792 sqft Upper Lantzville home listed for $2,195,000 ($579/sqft).

The 3 homes priced the most below their assessed value are 4627 Lost Lake Rd a 2 bed, 3 bath, 2,291 sqft North Nanaimo home listed for $865,000 (10% below its tax-assessed value), 591 Sarum Rise Way a 3 bed, 3 bath, 1,700 sqft University District home listed for $799,900 (8% below its tax-assessed value), 4750 Spirit Pl a 3 bed, 2 bath, 1,611 sqft North Nanaimo home listed for $799,800 (3% below its tax-assessed value).

The 3 least expensive new listings this week are 2624 Willow Grouse Cres a 3 bed, 2 bath, 1,529 sqft Diver Lake home listed for $699,000. 2462 Nadely Cres a 3 bed, 2 bath, 1,382 sqft Diver Lake home listed for $700,000. 249 Victoria Rd a 5 bed, 3 bath, 2,427 sqft Old City home listed for $729,000.

The 3 most expensive new listings this week are 7490 Copley Ridge Dr a 5 bed, 4 bath, 1,529 sqft Upper Lantzville home listed for $2,195,000. 2948 Jameson Rd a 5 bed, 4 bath, 3,080 sqft North Jingle Pot home listed for $1,675,000. 1930 Harmac Rd a 6 bed, 5 bath, 3,143 sqft Cedar home listed for $1,649,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 3224 Willowmere Cres who secured a 10% discount off the $1,069,000 asking price (sale price $965,000). The buyers of 113 Carlo Pl who secured a 6% discount off the $929,900 asking price (sale price $875,000). The buyers of 6866 Doumont Rd who secured a 5% discount off the $1,680,000 asking price (sale price $1,600,000).

The 3 highest cost per sqft sales this week were 3224 Willowmere Cres a 5 bed, 3 bath, 3,145 sqft North Jingle Pot home sold for $965,000 ($307/sqft), 1126 Beechwood Dr a 5 bed, 3 bath, 2,710 sqft South Nanaimo home sold for $892,000 ($329/sqft), 1060 Nelson St a 3 bed, 2 bath, 2,043 sqft Central Nanaimo home sold for $710,000 ($348/sqft).

The 3 highest sales this week were 6866 Doumont Rd a 4 bed, 3 bath, 3,218 sqft Pleasant Valley home sold for $1,600,000. 1465 Rose Ann Dr a 4 bed, 3 bath, 3,344 sqft Departure Bay home sold for $1,196,000. 3934 Jingle Pot Rd a 6 bed, 4 bath, 2,955 sqft South Jingle Pot home sold for $1,100,000.

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 

Industrial Wins & Waterfront Dreams

On the business side, we’ve been incredibly productive. We officially introduced two new properties to the market—a charming character home on Stewart Ave (link here) and a fantastic suited home in South Nanaimo (link here).  I’m also currently working with clients on two exclusive North Nanaimo waterfront opportunities that are truly special. On the commercial front, the team and I have been moving quickly, successfully selling two Parksville warehouses with an accepted offer already on a third. Keep an eye out next week as I’ll be unveiling a new downtown condo listing that is going to be a must-see.

From the Cage to the City

Last Thursday night, I stepped into a different kind of "office." I was at the Harbour Convention Centre in Vancouver refereeing BFL 86 (link here), officiating 12 pro MMA fights in front of an electric, sold-out crowd. It was an incredible night of competition broadcast live on UFC Fight Pass.

The best part, however, was having Avery and June join me on Friday and Saturday. We spent the weekend soaking in the Vancouver city vibes together—it was the perfect way to recharge after a high-stakes week.

A Note on Puerto Vallarta

On a more somber note, my heart is heavy for our friends in Puerto Vallarta. Having just spent a month there recently, it is incredibly difficult to see the devastation and unrest currently unfolding in a place that has been so welcoming to me. My thoughts and prayers are with the local community as they navigate this difficult time.

- John Cooper


Whether you’re looking for further clarification on the points and insights above, would like to discover your specific home value, or just have real estate questions you’d like answered, I’d love to hear from you!

Reach out to me directly at:

john@johncooper.ca or 250-619-9207

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