Weekly Real Estate Take - August 2026 - Week 3

Key Takeaways from the August Week 3 Data

• Minor Sales Rebound: Transaction volume ticked up slightly to 15 sales after hitting a low of 12 last week. Activity remains in a typical late-summer pattern as buyers balance home searches with summer holidays.

   

• Fresh Inventory Expansion: Sellers added 49 new listings, marking three consecutive weeks of growing new supply (34  44  49). Homeowners are actively positioning properties on the market ahead of the upcoming fall season.

   

• Balanced Market Baseline (30.6%): The weekly absorption rate held steady at 30.6%. Inventory is accumulating faster than it is clearing, keeping overall market conditions favorable and manageable for buyers.

   

• Cancellations Flatline: Failed listings held virtually unchanged at 21, indicating that the heavy wave of early August delistings has normalized into a steady weekly baseline.

 

Synopsis for a Nanaimo Homeowner Planning Their Next Move

 

The third week of August reflects a market accumulating inventory while maintaining a measured, balanced sales tempo.

 

For Sellers: New listings are expanding faster than weekly sales. With 49 new options hitting the market this week against 15 completed deals, competition among active listings is climbing. Buyers remaining in the market right now are purposeful and value-conscious. Positioning your pricing relative to recent comps rather than peak spring expectations is key to securing a deal before the post-Labour Day inventory surge.

 

For Buyers: You hold solid leverage heading into the final stretch of summer. An absorption rate hovering around 30% means choice is building and multi-offer pressure remains low. This environment provides the time needed to evaluate fresh inventory, conduct proper home inspections, and negotiate favorable terms without feeling rushed.

 

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!

Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 736 Terminal Ave N a 3 bed, 3 bath, 2,553 sqft Central Nanaimo home listed for $484,900 ($190/sqft), 180 Rainbow Cres a 6 bed, 4 bath, 5,057 sqft Uplands home listed for $1,195,000 ($236/sqft), 159 Emery Way a 5 bed, 3 bath, 2,466 sqft University District home listed for $699,900 ($284/sqft).

 

The 3 homes listed this week with the highest $/sqft are 8572 Rumming Rd a 4 bed, 4 bath, 2,452 sqft Lower Lantzville home listed for $1,930,000 ($787/sqft), 1316 Waddington Rd a 2 bed, 1 bath, 810 sqft Central Nanaimo home listed for $569,900 ($704/sqft), 157 View St a 2 bed, 1 bath, 697 sqft South Nanaimo home listed for $429,900 ($617/sqft).

 

The 3 homes priced the most below their assessed value are 4895 Laguna Way a 4 bed, 3 bath, 2,477 sqft North Nanaimo home listed for $799,000 (10% below its tax-assessed value), 2535 Elk Trails Way a 6 bed, 5 bath, 4,120 sqft Extension home listed for $1,499,000 (6% below its tax-assessed value), 157 View St a 2 bed, 1 bath, 697 sqft South Nanaimo home listed for $429,900 (4% below its tax-assessed value).

 

The 3 least expensive new listings this week are 157 View St a 2 bed, 1 bath, 697 sqft South Nanaimo home listed for $429,900. 736 Terminal Ave N a 3 bed, 3 bath, 2,553 sqft Central Nanaimo home listed for $484,900. 1316 Waddington Rd a 2 bed, 1 bath, 810 sqft Central Nanaimo home listed for $569,900.

 

The 3 most expensive new listings this week are 8572 Rumming Rd a 4 bed, 4 bath, 697 sqft Lower Lantzville home listed for $1,930,000. 1460 Sherwood Dr a 8 bed, 7 bath, 5,150 sqft Departure Bay home listed for $1,649,900. 100 ROYAL PACIFIC Way a 6 bed, 4 bath, 3,573 sqft North Nanaimo home listed for $1,529,900.

 

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 4877 Finnerty Cres who secured a 15% discount off the $1,088,000 asking price (sale price $922,000). The buyers of 5151 Metral Dr who secured a 11% discount off the $879,900 asking price (sale price $780,000). The buyers of 2177 Lancashire Ave who secured a 6% discount off the $769,900 asking price (sale price $725,000).

 

The 3 highest cost per sqft sales this week were 6343 Icarus Dr a 4 bed, 2 bath, 2,129 sqft North Nanaimo home sold for $1,115,000 ($524/sqft), 795 Southland Way a 3 bed, 2 bath, 1,286 sqft South Nanaimo home sold for $660,000 ($513/sqft), 2177 Lancashire Ave a 4 bed, 2 bath, 1,420 sqft Central Nanaimo home sold for $725,000 ($511/sqft).

 

The 3 highest sales this week were 6343 Icarus Dr a 4 bed, 2 bath, 2,129 sqft North Nanaimo home sold for $1,115,000. 5547 Sunridge Pl a 4 bed, 3 bath, 2,428 sqft North Nanaimo home sold for $1,085,000. 1364 Leask Rd a 3 bed, 3 bath, 2,838 sqft Cedar home sold for $950,000.

 

If you are looking for details on a recent sale not mentioned here, email me and I will send you the sale price.