Weekly Real Estate Take June 2025 - Week 1
Last week I predicted that there would be more than 56 new single family homes listed in Nanaimo over the last 7 days. Turns out 88 homes were listed! Sales declined from 31 the previous week to 26 homes selling in the last 7 days. The Nanaimo market is busy right now. Nanaimo is still some of the most affordable “warm weather” real estate in Canada and domestic demand is growing.
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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 2111 Carmen Rd, a 4 bed, 4 bath, 3,269 sqft Central Nanaimo home listed for $699,900 ($214/sqft), 650 Milton St, a 3 bed, 2 bath, 2,105 sqft Old City home listed for $575,000 ($273/sqft), 671 Bowen Rd, a 4 bed, 4 bath, 2,609 sqft Central Nanaimo home listed for $725,000 ($278/sqft).
The 3 homes listed this week with the highest $/sqft are 1588 Rugg Rd, a 1 bed, 1 bath, 776 sqft Cedar home listed for $879,000 ($1,133/sqft), 3129 Departure Bay Rd, a 1 bed, 1 bath, 567 sqft Departure Bay home listed for $574,900 ($1,014/sqft), 2324 Whitney Rd, a 2 bed, 1 bath, 781 sqft Diver Lake home listed for $549,900 ($704/sqft).
The 3 homes priced the most below their assessed value are 6756 Doumont Rd, a 4 bed, 2 bath, 2,615 sqft North Jingle Pot home listed for $995,000 (20% below its tax-assessed value), 2111 Carmen Rd, a 4 bed, 4 bath, 3,269 sqft Central Nanaimo home listed for $699,900 (12% below its tax-assessed value), 671 Bowen Rd, a 4 bed, 4 bath, 2,609 sqft Central Nanaimo home listed for $725,000 (9% below its tax-assessed value).
The 3 highest priced new listings this week are 3237 Ridgeview Pl, a 5 bed, 6 bath, 3,911 sqft North Jingle Pot home listed for $2,746,000. 561 Cumberland Pl, a 6 bed, 5 bath, 3,786 sqft Departure Bay home listed for $2,099,000. 6639 Elm Rd, a 4 bed, 4 bath, 3,860 sqft Upper Lantzville home listed for $1,849,900.
Notable New Sales
The 3 buyers that secured the largest discounts this week are the buyers of 2640 Steve Ellis Rd who secured a 6% discount off the $3,750,000 asking price (sale price $3,525,000). The buyers of 5481 Oceanview Terr who secured a 6% discount off the $989,000 asking price (sale price $930,000). The buyers of 294 Harwell Rd, who secured a 6% discount off the $689,000 asking price (sale price $650,000).
The 3 highest cost per sqft sales this week were 720 Oakley St, a 2 bed, 1 bath, 776 sqft Central Nanaimo home sold for $549,900 ($709/sqft), 729 Comox Rd, a 3 bed, 1 bath, 812 sqft Old City home sold for $567,500 ($699/sqft), 517 Doreen Pl, a 3 bed, 2 bath, 1,072 sqft Pleasant Valley home sold for $666,400 ($622/sqft).
The 3 highest sales this week were 2640 Steve Ellis Rd, a 9 bed, 7 bath, 6,632 sqft North Jingle Pot home sold for $3,525,000. 6063 Breonna Dr, a 3 bed, 5 bath, 3,890 sqft North Nanaimo home sold for $1,930,000. 203 Timbercrest Way, a 4 bed, 3 bath, 2,560 sqft Hammond Bay home sold for $1,388,000.
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
This last week I was invited to speak at 3 Estate Planning Seminars in Nanaimo hosted by the Investment Advisor Team at RBC. I spoke alongside a team of estate lawyers and investment advisors to over 60 attendees. We hosted our mid year Strategic Planning session, which was facilatetd by Hans Trupp of Focal Point Coaching. It was a great opportunity to refine our plans for the remainder of 2025. This weekend I hiked Cable Bay Trail with my daughter Avery.
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