July 2026 Newsletter

For the second consecutive week, exactly 51 new listings entered the market. The supply spikes of the spring market; which frequently pinned weekly numbers in the 70s and 80s; have smoothed out into a predictable, steady summer baseline.

Completed transactions crept back up to 20 sales, proving that local buyers are still pulling triggers despite the summer vacation season. Demand remains healthy and stable ahead of the next Bank of Canada rate announcement on July 15th.

For two weeks straight, exactly 32 listings failed to sell and were either cancelled or allowed to expire. This sustained spike highlights an intense seasonal filtering phase. Nanaimo buyers are highly value-conscious right now; they are actively touring open houses but are entirely content to let overpriced or unpolished homes sit until they drop off the market.

🏠 Synopsis for a Nanaimo Homeowner Considering Their Next Move

If you are Selling to Upsize: 

The mid-summer window is offering an incredibly stable environment to execute a "trade up." With an absorption rate resting comfortably at 39.2%, the market is perfectly balanced. If your current home is priced realistically to the current market, it will sell. Concurrently, the massive pool of aggregate inventory left over from the spring surge ensures you will have plenty of quality options to choose from when shopping for your larger, forever home.

If you are Downsizing or Cashing Out: 

The high cancellation rate (32 failed properties) serves as a stark reminder that buyer patience is at an all-time high. Local buyers refuse to pay a premium for properties with deferred maintenance or ambitious price tags. If you want a clean, hassle-free exit this summer, your property must be "turn-key" and priced strictly to recent comparable sales from day one.

The Summer Verdict: 

The chaotic volatility of the spring is behind us. The Nanaimo market is highly functional, interest rates are well-anchored, and choice is abundant. It remains an excellent time to make a move, provided you treat your pricing strategy as a science rather than a guessing game.

- John Cooper 

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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 1692 Centennary Dr a 5 bed, 3 bath, 2,661 sqft Chase River home listed for $829,900 ($312/sqft), 909 Harbour View St a 5 bed, 5 bath, 2,714 sqft South Nanaimo home listed for $899,990 ($332/sqft), 671 Beaconsfield Rd a 5 bed, 3 bath, 2,099 sqft University District home listed for $699,900 ($333/sqft).

The 3 homes listed this week with the highest $/sqft are 3171 Decourcy Dr a 3 bed, 2 bath, 1,448 sqft Cedar home listed for $1,450,000 ($1,001/sqft), 2550 Quennell Rd a 3 bed, 2 bath, 2,400 sqft Cedar home listed for $2,395,000 ($998/sqft), 2620 Randle Rd a 4 bed, 4 bath, 3,696 sqft Departure Bay home listed for $3,250,000 ($879/sqft).

The 3 homes priced the most below their assessed value are 109 Camrose Pl a 3 bed, 3 bath, 2,246 sqft University District home listed for $765,000 (15% below its tax-assessed value), 5295 Crestview Dr a 3 bed, 2 bath, 1,591 sqft North Nanaimo home listed for $799,000 (9% below its tax-assessed value), 170 Giggleswick Pl a 4 bed, 3 bath, 1,850 sqft Central Nanaimo home listed for $758,000 (8% below its tax-assessed value).

The 3 least expensive new listings this week are 635 Bruce Ave a 3 bed, 1 bath, 1,189 sqft South Nanaimo home listed for $574,900. 2168 Yellow Point Rd a 2 bed, 1 bath, 871 sqft Cedar home listed for $599,000. 812 Townsite Rd a 4 bed, 1 bath, 1,554 sqft Central Nanaimo home listed for $619,900.

The 3 most expensive new listings this week are 2620 Randle Rd a 4 bed, 4 bath, 1,189 sqft Departure Bay home listed for $3,250,000. 2550 Quennell Rd a 3 bed, 2 bath, 2,400 sqft Cedar home listed for $2,395,000. 7482 Copley Ridge Dr a 3 bed, 3 bath, 2,767 sqft Upper Lantzville home listed for $1,980,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 411 Seventh St who secured a 9% discount off the $574,900 asking price (sale price $525,000). The buyers of 3473 Littleford Rd who secured a 9% discount off the $899,900 asking price (sale price $822,200). The buyers of 3893 Gulfview Dr who secured a 8% discount off the $1,259,900 asking price (sale price $1,155,000).

The 3 highest cost per sqft sales this week were 411 Seventh St a 1 bed, 1 bath, 702 sqft South Nanaimo home sold for $525,000 ($748/sqft), 880 Eberts St a 2 bed, 1 bath, 955 sqft Central Nanaimo home sold for $550,000 ($576/sqft), 13345 Cedar Rd a 3 bed, 3 bath, 1,698 sqft Cedar home sold for $953,000 ($561/sqft).

The 3 highest sales this week were 6277 John Paul Pl a 4 bed, 3 bath, 3,384 sqft North Nanaimo home sold for $1,559,000. 6456 Peregrine Rd a 6 bed, 4 bath, 3,864 sqft North Nanaimo home sold for $1,330,000. 3893 Gulfview Dr a 6 bed, 3 bath, 3,366 sqft Hammond Bay home sold for $1,155,000.

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.

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This Week in John’s Life

I hope everyone had a fantastic Canada Day! We celebrated our nation’s birthday in the best local way possible—taking in a Nanaimo NightOwls baseball game under the lights, topped off with a spectacular fireworks show. We really have an incredible local sports scene here in Nanaimo, and sitting in the stands with the community was the perfect reminder of how lucky we are to call this place home.

On the real estate front, the summer market is holding a healthy, steady stride. It's consistent right now, but not overwhelmingly frantic, which is actually a great environment for buyers and sellers to make smart, calculated moves. Our team kept the momentum moving by launching three new listings, selling two homes, and hosting five busy open houses this past Saturday.

If you've been following my updates, you know I recently got back from a trip to Guadalajara. I have to admit, I brought a piece of Mexico home with me—I've officially "adopted" their football team over the last few weeks! Getting infected by their pure fútbol passion while down there was a highlight of my trip. It has been incredibly inspiring to watch an underdog team fight so hard and play with such heart. The Mexican people truly know how to celebrate the winning spirit, and that high-energy attitude is definitely something I’m channeling into my work this summer.

To keep all this high energy balanced, I finally made my way back to the mat this week at Modo Yoga. I spent some much-needed time sinking into a restorative Yin session. After a busy season, taking an hour to slow down, stretch, and just breathe was the ultimate physical and mental reset.

Whether you're looking to buy, sell, or just want to chat about where the Nanaimo market is heading as we roll into July, I’m always here to help. Reply directly to this email or send me a message—let’s connect!

John Cooper
250.619.9207
john@johncooper.ca