August 2026 Newsletter

August 2026
 
Key Takeaways from the August Week 1 Data

With new inventory holding low at 34 listings and sales bouncing back strongly to 23, the weekly absorption rate reached a high of 67.6%. This eclipses the previous record of 60.0% set back in late April, proving that buyer demand remains fundamentally resilient when viable inventory is available.

Simultaneously, failed listings spiked to 37—the single highest weekly cancellation/expiration count recorded in 2026 (surpassing the previous peaks of 35 seen in May and June). Sellers whose properties sat stagnant through July are aggressively pulling off the market or letting contracts lapse as summer moves into its final stretch.

A Distinct "Two-Speed" Market: The contrast in Week 1 is stark. Fresh, accurately priced homes are moving extremely fast (driving the 67.6% absorption rate), while stale or over-optimistic listings are being utterly ignored and ejected from the active pool.

 

Synopsis for a Nanaimo Homeowner Planning Their Next Move

 

The first week of August illustrates a market operating with absolute efficiency, rewarding accuracy and penalizing hesitation.

 

For Sellers: The surge to 23 sales proves that serious buyers are active right now and not waiting until autumn. However, the record 37 cancellations serve as a clear warning: buyers are heavily filtering their options. If your home is turn-key and priced strictly to current market reality, it has a higher chance of selling quickly this week than at almost any other point this year. If it is overpriced, it will be ignored.

 

For Buyers: The market speed on brand-new listings has picked up significantly. With absorption at nearly 68%, top-tier homes are moving almost as fast as they arrive. However, the spike in 37 cancelled/expired properties creates a unique opportunity: many of these sellers may be motivated to return to the market with substantial price adjustments or entertain direct inquiries before the fall market begins.

 

- 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 995 Franklyn St a 5 bed, 3 bath, 2,331 sqft Old City home listed for $699,900 ($300/sqft), 1958 Estevan Rd a 5 bed, 2 bath, 2,654 sqft Brechin Hill home listed for $839,900 ($316/sqft), 2840 Haliday Cres a 5 bed, 3 bath, 2,648 sqft Departure Bay home listed for $849,900 ($321/sqft).

 

The 3 homes listed this week with the highest $/sqft are 121 Pine St a 2 bed, 1 bath, 676 sqft Old City home listed for $529,900 ($784/sqft), 100 Carlo Pl a 3 bed, 2 bath, 1,278 sqft Chase River home listed for $799,900 ($626/sqft), 643 Kennedy St a 1 bed, 2 bath, 890 sqft Old City home listed for $550,000 ($618/sqft).

 

The 3 homes priced the most below their assessed value are 308 Holly Ave a 2 bed, 1 bath, 1,008 sqft Central Nanaimo home listed for $479,900 (18% below its tax-assessed value), 7817 SUPERIOR Rd a 6 bed, 4 bath, 4,270 sqft Upper Lantzville home listed for $1,795,000 (10% below its tax-assessed value), 3030 Gregson Rd a 4 bed, 3 bath, 2,053 sqft North Jingle Pot home listed for $1,149,900 (10% below its tax-assessed value).

 

The 3 least expensive new listings this week are 308 Holly Ave a 2 bed, 1 bath, 1,008 sqft Central Nanaimo home listed for $479,900. 710 Winchester Ave a 3 bed, 1 bath, 1,357 sqft South Nanaimo home listed for $499,000. 451 Irwin St a 3 bed, 2 bath, 864 sqft South Nanaimo home listed for $519,000.

 

The 3 most expensive new listings this week are 8485 Lisa Lane a 5 bed, 6 bath, 1,008 sqft Upper Lantzville home listed for $1,895,000. 7817 SUPERIOR Rd a 6 bed, 4 bath, 4,270 sqft Upper Lantzville home listed for $1,795,000. 3702 Glen Oaks Dr a 5 bed, 4 bath, 2,993 sqft Hammond Bay home listed for $1,250,000.

 

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 532 Duke St who secured a 18% discount off the $499,800 asking price (sale price $410,000). The buyers of 6324 Lasalle Rd who secured a 12% discount off the $950,000 asking price (sale price $840,000). The buyers of 1747 Cedar Rd NE who secured a 11% discount off the $649,000 asking price (sale price $575,000).

 

The 3 highest cost per sqft sales this week were 2620 Randle Rd a 4 bed, 4 bath, 3,696 sqft Departure Bay home sold for $3,025,000 ($818/sqft), 532 Duke St a 2 bed, 2 bath, 969 sqft South Nanaimo home sold for $410,000 ($423/sqft), 504 Martina Way a 4 bed, 3 bath, 2,768 sqft Diver Lake home sold for $1,110,000 ($401/sqft).

 

The 3 highest sales this week were 2620 Randle Rd a 4 bed, 4 bath, 3,696 sqft Departure Bay home sold for $3,025,000. 4642 Sheridan Ridge Rd a 6 bed, 5 bath, 4,079 sqft North Nanaimo home sold for $1,510,000. 296 Cilaire Dr a 5 bed, 5 bath, 4,219 sqft Departure Bay home sold for $1,450,000.

 

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!

 

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

It was another high-energy summer week for our team as we kept the momentum rolling across the region. We officially introduced two fantastic new properties to the market; An immaculate ocean-view patio home in Ladysmith (video here) & a highly sought-after South Nanaimo home complete with a suite for under $700,000.

 

Alongside those fresh launches, we had the privilege of handing over the keys to a wonderful family stepping into their new home in Central Nanaimo, and officially removed subjects on a charming character home in the University District. Seeing these chapters close smoothly for our clients is always the most gratifying part of what we do!

 

On a personal note, I took my two daughters, Avery (18) and June (15), on a classic, old-school West Coast road trip this week; and it was exactly what the doctor ordered. We hit the open road starting Monday, cruising down through Portland and Ashland, Oregon, all the way into San Francisco.

 

On the way back up north, we hugged the coast through Eureka, California, stopped through Newport, and wrapped up in Port Angeles, where we caught the famous Coho ferry across to Victoria before heading back home to Nanaimo. From stunning coastal scenery to making incredible memories with the girls, it was a reminder of how special a good family road trip can be.

 

Our neighbors to the south truly know how to host; we were met with nothing but friendliness, warmth, and great hospitality every step of the way.

Summer is flying by, but starting the week with a full tank and a refreshed mindset is the best feeling in the world!

 

Curious about our fresh listings in Ladysmith or South Nanaimo, or looking to map out your own real estate move before fall? Reply directly to this email or send me a message; let’’s connect!

 

John Cooper
250.619.9207
john@johncooper.ca