Weekly Real Estate Take July 2025 - Week 3

Over the last 3 weeks, we've consistently seen over 50 new single family homes listed in Nanaimo every 7 days (54 last week). Sales have also been steady with approximately 30 single family homes selling each week in Nanaimo (29 last week). This is a very sustainable pace for the Nanaimo real estate market. The consistency of the trading activity is further evidence that my prediction for the market to “hold steady” for the foreseeable future is accurate. I am predicting prices to stay about where they are for the next 12 to 24 months. These balanced market conditions are ideal for making moves.

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Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 5540 Oceanview Terr a 7 bed, 4 bath, 4,642 sqft North Nanaimo home listed for $1,399,999 ($302/sqft), 2555 Departure Bay Rd a 5 bed, 2 bath, 3,151 sqft Departure Bay home listed for $959,000 ($304/sqft), 2901 Newton St a 6 bed, 4 bath, 2,840 sqft Departure Bay home listed for $864,900 ($305/sqft).

The 3 homes listed this week with the highest $/sqft are 2375 Holden Corso Rd a 4 bed, 2 bath, 1,560 sqft Cedar home listed for $1,699,900 ($1,090/sqft), 2175 Waring Rd a 4 bed, 4 bath, 2,721 sqft Extension home listed for $2,200,000 ($809/sqft), 740 Oakley St a 2 bed, 1 bath, 767 sqft Central Nanaimo home listed for $619,900 ($808/sqft).

The 3 homes priced the most below their assessed value are 426/436 Wharton St a 3 bed, 2 bath, 1,427 sqft University District home listed for $799,900 (13% below its tax-assessed value), 421 Third St a 2 bed, 2 bath, 1,332 sqft University District home listed for $639,900 (7% below its tax-assessed value), 447 Aysgarth St a 4 bed, 2 bath, 1,764 sqft University District home listed for $589,900 (6% below its tax-assessed value).

The 3 highest priced new listings this week are 3272 Roper Rd a 4 bed, 5 bath, 3,996 sqft Cedar home listed for $2,500,000. 2175 Waring Rd a 4 bed, 4 bath, 2,721 sqft Extension home listed for $2,200,000. 2513 Cosgrove Cres a 5 bed, 5 bath, 5,499 sqft Departure Bay home listed for $2,100,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 2100 Hilbert Rd who secured a 11% discount off the $1,990,000 asking price (sale price $1,775,000). The buyers of 8170 Southwind Dr who secured an 8% discount off the $1,399,000 asking price (sale price $1,293,000). The buyers of 5611 Porpoise Pl who secured a 7% discount off the $825,000 asking price (sale price $770,000).

The 3 highest cost per sqft sales this week were 3225 Wayne Morgan Rd a 4 bed, 3 bath, 3,112 sqft North Jingle Pot home sold for $1,790,000 ($575/sqft), 6350 Groveland Dr a 3 bed, 3 bath, 2,543 sqft North Nanaimo home sold for $1,285,000 ($505/sqft), 3085 Neyland Rd a 5 bed, 3 bath, 2,520 sqft Departure Bay home sold for $1,190,000 ($472/sqft).

The 3 highest sales this week were 3225 Wayne Morgan Rd a 4 bed, 3 bath, 3,112 sqft North Jingle Pot home sold for $1,790,000, 2100 Hilbert Rd a 3 bed, 2 bath, 2,704 sqft Cedar home sold for $1,775,000. 3515 Monterey Dr a 6 bed, 4 bath, 4,153 sqft North Jingle Pot home sold for $1,400,000.

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 My Life

The last week has been one of working hard and playing hard. The team had a massive week with 5 properties going firm in the last 7 days including 3 multiple offer negotiations.

On August 9th, I am sponsoring a Professional Boxing event at the Vancouver Island Conference Centre. This event is also a fundraiser for local Police, Fire, & EMS professionals (details here)

Last week I was able to attend the Calgary Stampede (video here), toured some incredible waterfront estates (video here) and celebrated my late fathers birthday on Salt Spring Island (video here).