Weekly Real Estate Take - March 2026 - Week 5

🏠 For the Nanaimo Homeowner

If you are considering selling, you are currently in a "High-Velocity Balanced Market." The sheer volume of 97 sales in 31 days proves that the buyer pool is deep and active. However, because inventory is also at a record high, your home is likely being compared to 10+ similar properties in your neighborhood.

The Strategy: Your home needs to be the "shining star" of its price bracket. With an absorption rate holding steady at 40%, the houses that are "turn-key" and priced to the current 2.25% mortgage reality are selling within their first 14–21 days.

🔑 For the Aspiring Homeowner

This is arguably the best "Selection Window" you’ve had in years. March provided a massive influx of 241 new options. Unlike the frantic markets of 2021 or 2024, the current 40% absorption rate means you likely have the time to include subjects (like financing and inspections) without being immediately blown out by a subject-free offer.

The Strategy: Don't wait for a "crash" that isn't coming. The BoC "Hold" has set the floor. Focus on finding a home that fits your 5-year plan while the inventory is at this seasonal peak.

- John Cooper

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!

Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 736 Terminal Ave N a 3 bed, 3 bath, 2,553 sqft Central Nanaimo home listed for $549,900 ($215/sqft), 292 Kathryn Pl a 4 bed, 3 bath, 2,602 sqft South Jingle Pot home listed for $749,900 ($288/sqft), 2323 Rockwood Pl a 6 bed, 4 bath, 2,900 sqft South Jingle Pot home listed for $975,000 ($336/sqft).

The 3 homes listed this week with the highest $/sqft are 2865 Munroe Rd a 4 bed, 3 bath, 1,806 sqft North Jingle Pot home listed for $1,489,000 ($824/sqft), 125 Sylvan Pl a 3 bed, 2 bath, 1,113 sqft South Jingle Pot home listed for $709,900 ($638/sqft), 680 Montague Rd a 3 bed, 1 bath, 1,110 sqft University District home listed for $675,000 ($608/sqft).

The 3 homes priced the most below their assessed value are 271 Woodhaven Dr a 4 bed, 2 bath, 1,520 sqft Uplands home listed for $739,900 (10% below its tax-assessed value), 5696 Linley Valley Dr a 6 bed, 4 bath, 3,151 sqft North Nanaimo home listed for $1,060,000 (9% below its tax-assessed value), 750 Northumberland Ave a 3 bed, 1 bath, 1,344 sqft Central Nanaimo home listed for $665,000 (8% below its tax-assessed value).

The 3 least expensive new listings this week are 736 Terminal Ave N a 3 bed, 3 bath, 2,553 sqft Central Nanaimo home listed for $549,900. 11 Fourth St a 3 bed, 2 bath, 1,464 sqft South Nanaimo home listed for $579,900. 2166 Bramley Rd a 3 bed, 3 bath, 1,102 sqft Extension home listed for $629,900.

The 3 most expensive new listings this week are 296 Cilaire Dr a 5 bed, 5 bath, 2,553 sqft Departure Bay home listed for $1,788,800. 2865 Munroe Rd a 4 bed, 3 bath, 1,806 sqft North Jingle Pot home listed for $1,489,000. 198 Heritage Dr a 4 bed, 4 bath, 3,563 sqft North Nanaimo home listed for $1,485,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 6643 Kestrel Cres who secured a 8% discount off the $1,239,000 asking price (sale price $1,138,500). The buyers of 7227 Aulds Rd who secured a 6% discount off the $1,279,900 asking price (sale price $1,198,000). The buyers of 2388 Mill Rd who secured a 6% discount off the $779,900 asking price (sale price $730,000).

The 3 highest cost per sqft sales this week were 3180 West Rd a 3 bed, 4 bath, 1,624 sqft North Jingle Pot home sold for $1,765,000 ($1087/sqft), 3237 Ridgeview Pl a 5 bed, 6 bath, 3,911 sqft North Jingle Pot home sold for $2,450,000 ($626/sqft), 2462 Nadely Cres a 3 bed, 2 bath, 1,382 sqft Diver Lake home sold for $700,000 ($507/sqft).

The 3 highest sales this week were 3237 Ridgeview Pl a 5 bed, 6 bath, 3,911 sqft North Jingle Pot home sold for $2,450,000. 3180 West Rd a 3 bed, 4 bath, 1,624 sqft North Jingle Pot home sold for $1,765,000. 7210 Hase Pl a 4 bed, 3 bath, 2,660 sqft Upper Lantzville home sold for $1,260,000.

This Week in My Life

It was a fantastic weekend on the ground; I personally hosted two open houses with Stephen Schaff, and the turnout really highlighted the spring momentum we're seeing. On the professional side, I attended the VIREB AGM, which was quite a bit livelier than usual this year! I also attended our first Professional Standards meeting of 2026. This marks the start of my fourth term on the committee, and I’m as committed as ever to upholding the integrity and ethics of our industry.

The pace hasn't slowed down behind the scenes, either. It’s been another heavy week of market evaluations and onboarding new listings. We caught some beautiful windows of weather to get media and photography wrapped up for several properties—including a "beauty" of a character home that I’ll be unveiling next week. I’ve also been spending a lot of time out in the field with my sellers as they hunt for their next perfect home; helping them navigate that transition is always one of the most rewarding parts of my job.

Reach out to me directly at:

john@johncooper.ca or 250-619-9207

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