Weekly Real Estate Take August 2025 - Week 3

August sales activity has remained steady. There was a slight increase in the number of new single family homes listed in Nanaimo last week. 45 new homes were added to the MLS, up from 37 the week prior. Sales also saw an increase in activity, with 20 single family homes selling in Nanaimo last week. That is up from 15 sales the previous week.

I am predicting that this sales activity will remain and potentially start to increase as we head into September. Inventory is also expected to increase in September. I expect prices to hold firm for homes under $1,000,000 with  subtle downward pressure on homes above $1,000,000. The market outlook is different for every asset category.

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- 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 5213 Fox Pl a 4 bed, 3 bath, 2,846 sqft  North Nanaimo home listed for $829,900 ($292/sqft), 3681 Place Rd a 3 bed, 3 bath, 2,730 sqft  Hammond Bay home listed for $799,900 ($293/sqft), 4696 Laguna Way a 6 bed, 6 bath, 4,100 sqft North Nanaimo home listed for $1,238,000 ($302/sqft).

The 3 homes listed this week with the highest $/sqft are 7436 Lantzville Rd a 4 bed, 3 bath, 2,185 sqft Lower Lantzville home listed for $1,425,000 ($652/sqft), 3336 Barrington Rd a 2 bed, 2 bath, 935 sqft Departure Bay home listed for $599,000 ($641/sqft), 4978 Fillinger Cres a 7 bed, 4 bath, 3,634 sqft North Nanaimo home listed for $2,250,000 ($619/sqft).

The 3 homes priced the most below their assessed value are 4696 Laguna Way a 6 bed, 6 bath, 4,100 sqft  North Nanaimo home listed for $1,238,000 (16% below its tax-assessed value), 4981 Dunn Pl a 4 bed, 4 bath, 2,914 sqft  Hammond Bay home listed for $925,000 (10% below its tax-assessed value), 3681 Place Rd a 3 bed, 3 bath, 2,730 sqft Hammond Bay home listed for $799,900 (7% below its tax-assessed value).

The 3 highest sales this week were 4655 Ambience Dr a 7 bed, 5 bath, 3,549 sqft North Nanaimo home sold for $1,649,900. 7436 Lantzville Rd a 4 bed, 3 bath, 2,185 sqft Lower Lantzville home sold for $1,425,000. 129 Sharon Pl a 4 bed, 3 bath, 3,283 sqft North Nanaimo home sold for $1,395,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 5693 Amsterdam Cres who secured a 4% discount off the $785,000 asking price (sale price $757,500). The buyers of 2059 Stonecrop Rd who secured a 2% discount off the $829,900 asking price (sale price $815,000). The buyers of 6743 Aulds Rd who secured a 7% discount off the $799,000 asking price (sale price $740,000).

The 3 highest cost per sqft sales this week were 5693 Amsterdam Cres a 3 bed, 1 bath, 1,308 sqft  Pleasant Valley home sold for $757,500 ($579/sqft), 4136 Orchard Cir a 3 bed, 2 bath, 1,356 sqft  Uplands home sold for $702,500 ($518/sqft), 818 Glengarry Cres a 3 bed, 2 bath, 1,600 sqft South Nanaimo home sold for $812,000 ($508/sqft).

The 3 highest sales this week were 4650 Ambience Dr a 7 bed, 5 bath, 4,186 sqft North Nanaimo home sold for $1,800,000. 5391 Sunhaven Pl a 5 bed, 3 bath, 3,775 sqft North Nanaimo home sold for $1,345,000. 5711 Norasea Rd a 6 bed, 4 bath, 3,318 sqft North Nanaimo 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

This last week I received word that I was awarded my 7th consecutive ICON award from eXp Realty. This was a really proud moment for me as it puts me one step closer to my vision when I made the leap to eXp Realty 7 years ago. Briefly put, I set out to prove that I could maintain & even grow my local market share with my reputation alone and use the leverage afforded by the ICON award to invest heavier in operations and marketing. It was a big gamble at the time, as no one in Canada had earned 7 consecutive ICON awards (image here).

I also spent this week celebrating all the fun and excitement we had at the Harbour City Badge Battle in Nanaimo (video here). Getting the opportunity to step up for charity and have fun doing it was a privilege I won't soon forget (image here).

- John Cooper

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