Weekly Real Estate Take - August 2026 - Week 4

Key Takeaways from the August Week 4 Data

• Steady Sales Baseline: Transaction volume edged up to 16 sales, holding predictable and flat in the mid-teens for the third straight week. Demand remains in a calm late-summer baseline as buyers prepare for the post-Labour Day stretch.

• Fourth Consecutive Supply Increase: Sellers introduced 52 new listings, continuing a steady four-week ramp-up in fresh supply. Sellers are actively listing ahead of the traditional fall market restart.

• Absorption Anchored at 30.8%: The weekly absorption rate held virtually identical to last week (30.8% vs. 30.6%), marking three consecutive weeks in buyer-favorable, balanced market territory.

• Cancellations Level Out: Failed listings saw a minor uptick to 23, remaining aligned with the low-20s baseline established over the past month.

Synopsis for a Nanaimo Homeowner Planning Their Next Move

The final full week of August reinforces a highly stable market where supply is gradually building while buyer activity maintains a calm pace.

For Sellers: Supply has expanded every week this month while weekly sales have remained plateaued in the mid-teens. With 52 new options entering the pool against 16 deals, buyer choice is accumulating. If you are preparing to list for the fall market, pricing accurately against late-summer comparables rather than spring peak hopes is vital to avoid becoming part of the weekly cancellation column.

For Buyers: August ends with excellent conditions for thoughtful decision-making. With absorption hovering right around 30%, you have ample time to evaluate fresh listings, include subjects for financing and inspections, and negotiate terms without the multi-offer pressure seen earlier this year.

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!

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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 7810 Aats Rd a 5 bed, 5 bath, 5,670 sqft Lower Lantzville home listed for $969,900 ($171/sqft), 61 View St a 4 bed, 2 bath, 1940 sqft South Nanaimo home listed for $575,000 ($296/sqft), 85 Robarts St a 5 bed, 3 bath, 2,094 sqft South Nanaimo home listed for $639,000 ($305/sqft).

The 3 homes listed this week with the highest $/sqft are 3300 Ferguson Rd a 4 bed, 6 bath, 4,565 sqft North Jingle Pot home listed for $4,195,000 ($919/sqft), 540 Deering St a 2 bed, 2 bath, 836 sqft South Nanaimo home listed for $689,000 ($824/sqft), 2640 Randle Rd a 5 bed, 3 bath, 2,067 sqft Departure Bay home listed for $1,695,000 ($820/sqft).

The 3 homes priced the most below their assessed value are 7810 Aats Rd a 5 bed, 5 bath, 5,670 sqft Lower Lantzville home listed for $969,900 (14% below its tax-assessed value), 6002 Icarus Dr a 5 bed, 4 bath, 4,774 sqft North Nanaimo home listed for $2,375,000 (4% below its tax-assessed value), 1656 Roberta Rd S a 6 bed, 4 bath, 2,695 sqft Chase River home listed for $924,999 (4% below its tax-assessed value).

The 3 least expensive new listings this week are 2148 Dick Ave a 2 bed, 1 bath, 1,048 sqft Extension home listed for $565,000. 740 Begbie St a 2 bed, 1 bath, 932 sqft Central Nanaimo home listed for $570,000. 61 View St a 4 bed, 2 bath, 1,940 sqft South Nanaimo home listed for $575,000.

The 3 most expensive new listings this week are 3300 Ferguson Rd a 4 bed, 6 bath, 1,048 sqft North Jingle Pot home listed for $4,195,000. 3029 Meadow Dr a 5 bed, 5 bath, 4,768 sqft North Jingle Pot home listed for $2,425,000. 6002 Icarus Dr a 5 bed, 4 bath, 4,774 sqft North Nanaimo home listed for $2,375,000.

 

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 5536 Ventura Dr who secured a 6% discount off the $908,000 asking price (sale price $857,500). The buyers of 1054 Southwood Dr who secured a 5% discount off the $969,900 asking price (sale price $920,000). The buyers of 671 Beaconsfield Rd who secured a 4% discount off the $699,900 asking price (sale price $675,000).

The 3 highest cost per sqft sales this week were 693 Park Ave a 2 bed, 1 bath, 864 sqft South Nanaimo home sold for $518,000 ($600/sqft), 658 Nanaimo River Rd a 3 bed, 2 bath, 1,080 sqft Extension home sold for $640,000 ($593/sqft), 2189 Jingle Pot Rd a 3 bed, 1 bath, 1,099 sqft South Jingle Pot home sold for $645,000 ($587/sqft).

The 3 highest sales this week were 3306 Savannah Pl a 3 bed, 3 bath, 2,243 sqft North Jingle Pot home sold for $1,059,000. 2071 James Edward Pl a 3 bed, 2 bath, 2,261 sqft Cedar home sold for $989,000. 6427 Nidri Pl a 5 bed, 3 bath, 2,789 sqft North Nanaimo home sold for $969,000.

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

What a monumental week for our team! This was easily one of our biggest weeks of the entire year for key handovers. There is nothing better than handing over keys and helping clients step into their new chapters across Vancouver Island.

This week’s handovers included:

A Cowichan River Oasis: we officially brought this trade across the finish line and handed over the keys to a stunning home on the Cowichan River.

Downtown Duncan Condo: Handed over keys to a charming, sweet condo in the heart of downtown Duncan.

North Jinglepot Rancher: Got our buyers settled into a beautiful rancher complete with an attached garage.

Metral Drive Development Property: After nearly three years of hard work and negotiations; one of the longest, most complex transactions of my career; Successfully closed on a great development opportunity on Metral Drive.

North Nanaimo Rancher: Welcomed happy new owners to a lovely rancher in North Nanaimo.

North Nanaimo Townhome: Wrapped up the week handing over keys on an immaculate North Nanaimo townhome.

Amidst all the move-in momentum, we also officially launched a fresh new listing: a 3-bedroom, 2-bathroom quintessential rancher in Ladysmith; you can take the full video walkthrough [right here].

On Tuesday evening, I hopped on a Harbour Air floatplane over to Vancouver to drop off a friend at the airport. No matter how many times I make that flight, taking off out of Nanaimo Harbour and flying over Newcastle Channel, Gabriola Island, and Entrance Island is purely mind-blowing.

There is something special about seeing the place you live through the eyes of a visitor; it’s an instant reminder of how ridiculously spoiled we are on the West Coast. Soaring over Stanley Park, banking past the Lions Gate Bridge, and touching down right in Coal Harbour will never, ever get old!

Thinking about leveraging the upcoming "Second Spring" market for your own home sale or buy? Reply directly to this email or send me a message & let’s map out your strategy!

 

- John Cooper