Weekly Real Estate Take - July 2026 - Week 2

Key Takeaways from the July Week 2 Data

• Buyers snapped up exactly 20 homes for the second consecutive week. Demand remains steady and predictable as the market enters the heart of summer.

• New listings grew slightly to 56, proving that sellers are still comfortable introducing properties to the market despite moving deep into the summer holiday season.

• After two straight weeks of exactly 32 failures, cancelled and expired listings dropped significantly to 21. The heavy wave of end-of-quarter and over-ambitious spring cleanup has finally quieted down.

• Steady Balanced Territory: The absorption rate settled at 35.7%, which sits squarely in balanced market territory. Neither buyers nor sellers hold an unfair advantage right now.

 

Synopsis for a Nanaimo Homeowner & Aspiring Buyer

July Week 2 shows a single-family market that is operating with extreme stability. With the next Bank of Canada rate announcement coming up this Wednesday, July 15th, and widely expected to hold steady at 2.25%, the market has shed its spring volatility in favour of a reliable summer rhythm.

For Sellers:

The environment is steady. Buyers are locking in 20 deals a week, showing that the summer heat has not dried up local demand. However, with 56 new listings dropping this week alone, your home faces plenty of fresh competition. The drop in cancellations to 21 implies that active inventory is pricing more realistically right out of the gate. If you intend to sell before autumn, matching this precise pricing approach is vital.

For Buyers:

This is a low-stress window. The absorption rate down at 35.7% ensures you can browse the healthy pool of available summer properties without facing intense multi-offer pressures. The data indicates you have a solid inventory baseline and a predictable interest rate environment, giving you the time and leverage needed to conduct thorough inspections and protect your contract terms.

- John Cooper

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 706 Haliburton St a 4 bed, 2 bath, 2,590 sqft South Nanaimo home listed for $674,900 ($261/sqft), 55 Haliburton St a 4 bed, 3 bath, 1,955 sqft Old City home listed for $525,000 ($269/sqft), 133 Milton St a 4 bed, 4 bath, 2,450 sqft Old City home listed for $699,900 ($286/sqft).

The 3 homes listed this week with the highest $/sqft are 2999 King Richard Dr a 4 bed, 2 bath, 1,822 sqft Departure Bay home listed for $2,00,0000 ($1,,098/sqft), 2660 Holden Corso Rd a 6 bed, 5 bath, 2,626 sqft Cedar home listed for $2,295,000 ($874/sqft), 5025 Hinrich View a 5 bed, 8 bath, 8,247 sqft Hammond Bay home listed for $6,499,500 ($788/sqft).

The 3 homes priced the most below their assessed value are 3624 Uplands Dr a 4 bed, 2 bath, 1,973 sqft Uplands home listed for $675,000 (7% below its tax-assessed value), 3538 Fairview Dr a 4 bed, 3 bath, 2,219 sqft Uplands home listed for $775,000 (5% below its tax-assessed value), 3255 Folkestone Dr a 2 bed, 3 bath, 1,954 sqft Departure Bay home listed for $674,900 (4% below its tax-assessed value).

The 3 least expensive new listings this week are 55 Haliburton St a 4 bed, 3 bath, 1,955 sqft Old City home listed for $525,000. 203 Prideaux St a 3 bed, 1 bath, 1209 sqft Old City home listed for $549,900. 654 Farquhar St a 3 bed, 1 bath, 1,256 sqft Old City home listed for $599,900.

The 3 most expensive new listings this week are 5025 Hinrich View a 5 bed, 8 bath, 1955 sqft Hammond Bay home listed for $6,499,500. 2660 Holden Corso Rd a 6 bed, 5 bath, 2,626 sqft Cedar home listed for $2,295,000. 2999 King Richard Dr a 4 bed, 2 bath, 1,822 sqft Departure Bay home listed for $2,000,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 7850 Shangri-La Rd who secured a 16% discount off the $2,249,900 asking price (sale price $1,890,000). The buyers of 7297 Aulds Rd who secured a 12% discount off the $1,199,000 asking price (sale price $1,050,000). The buyers of 2035 Pace Rd who secured a 11% discount off the $1,599,900 asking price (sale price $1,425,000).

The 3 highest cost per sqft sales this week were 6254 Waterbury Rd a 3 bed, 2 bath, 1,490 sqft North Nanaimo home sold for $854,000 ($573/sqft), 5295 Crestview Dr a 3 bed, 2 bath, 1,591 sqft North Nanaimo home sold for $830,000 ($522/sqft), 1947 Cinnabar Dr a 4 bed, 3 bath, 2,247 sqft Chase River home sold for $1,140,000 ($507/sqft).

The 3 highest sales this week were 7850 Shangri-La Rd a 4 bed, 3 bath, 3,944 sqft Lower Lantzville home sold for $1,890,000. 2035 Pace Rd a 5 bed, 4 bath, 2,860 sqft Cedar home sold for $1,425,000. 4260 Butternut Dr a 4 bed, 4 bath, 2,798 sqft Uplands home sold for $1,267,500.

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

We kicked off this week by introducing a fantastic new property to the market—a beautiful South Nanaimo home complete with a mortgage-helping suite. If you want a quick tour of the space and layout, you can check out the full video walk-through [right here].

Launches like this are just one piece of a massive marketing push we've been running. Over the last 8 days, our team has hosted 9 open houses, and we are currently actively marketing 18 live listings across the region. I mention this because in a transitioning market, those numbers represent something incredibly valuable: a real-time, unfiltered temperature check on what is actually happening on the ground.

Right now, the truth of the market is simple: overall open house traffic is down compared to the spring rush, but the casual "looky-loos" have cleared out. The people walking through our doors today are serious buyers looking for serious sellers.

Navigating the Big Question: "What's My Exit Timing?"

That on-the-ground data has been the focal point of another packed week of homeowner consultations. More than ever, Nanaimo homeowners are asking me the big questions: What does the future of housing demand look like in Nanaimo, and how does that affect my exit timing?

There is no one-size-fits-all answer. Because we can see the market's true temperature, some of my clients are choosing to strategically adjust their timelines and make their moves now, while others are deciding to hold steady for the long haul. Having accurate, real-time data is proving to be absolutely vital for local families trying to make these tough, high-stakes financial decisions.

- John Cooper

Whether you’re looking for further clarification on the points and insights above, would like to discover your specific home value, or just have real estate questions you’d like answered, I’d love to hear from you!

Reach out to me directly at:

john@johncooper.ca or 250-619-9207.