Weekly Real Estate Take - September 2026 - Week 2

by John Cooper

  • All-Time Cancellation Spike (50 Listings): Expired and cancelled properties exploded to 50, eclipsing the previous single-week high of 37 set in early August. This indicates a massive post-Labour Day listing reset, where sellers whose properties lingered through the summer are pulling back to re-evaluate, re-price, or delist entirely before Q4.

  • New Supply Inflow Drops (36): Fresh inventory pulled back sharply to 36 new listings, representing a 26% drop from last week and the lowest intake of new supply since late July.

  • Buyers Maintain Steady Pace (20 Sales): Despite fewer brand-new options hitting the market, demand held firm at 20 completed transactions. Sales remain meaningfully elevated above August’s mid-summer average of 14 deals per week.

  • Absorption Climbs to 55.6%: Because new listings contracted faster than buyer transactions, the weekly absorption rate climbed to 55.6%, keeping active turnover fast for properly priced, fresh inventory.

     

Synopsis for a Nanaimo Homeowner Planning Their Next Move

Mid-September reveals a market conducting an aggressive inventory purge while buyer demand stays comfortably active.

 

For Sellers: The market is demonstrating zero tolerance for stale or aspirational pricing. The record-breaking 50 cancellations show that buyers are ruthlessly passing over listings that missed their window during the spring and summer waves. If you are preparing to list this fall, launching with aggressive, comp-validated pricing from day one is essential to avoid joining the growing column of expired listings.

 

For Buyers: While fresh new listings slowed down to 36 this week, the sudden influx of 50 cancelled and expired listings opens a strategic window. Many of these sellers are eager to move before year-end and may now be far more receptive to direct inquiries, price adjustments, or subject-heavy terms than they were a month ago.

 

Interested in Your Home's Value?

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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 3319 Decourcy Dr a 4 bed, 3 bath, 2,751 sqft Cedar home listed for $750,000 ($273/sqft), 2415 Departure Bay Rd a 7 bed, 8 bath, 6,726 sqft Departure Bay home listed for $1,889,000 ($281/sqft), 3657 Sunrise Pl a 4 bed, 3 bath, 2,255 sqft Uplands home listed for $650,000 ($288/sqft).

 

The 3 homes listed this week with the highest $/sqft are 2550 Quennell Rd a 3 bed, 2 bath, 2,400 sqft Cedar home listed for $2,265,000 ($944/sqft), 5031 Hinrich View a 6 bed, 5 bath, 5,488 sqft North Nanaimo home listed for $3,300,000 ($601/sqft), 6279 Blueback Rd a 3 bed, 2 bath, 1,421 sqft North Nanaimo home listed for $844,999 ($595/sqft).

 

The 3 homes priced the most below their assessed value are 3319 Decourcy Dr a 4 bed, 3 bath, 2,751 sqft Cedar home listed for $750,000 (30% below its tax-assessed value), 2550 Quennell Rd a 3 bed, 2 bath, 2,400 sqft Cedar home listed for $2,265,000 (17% below its tax-assessed value), 3657 Sunrise Pl a 4 bed, 3 bath, 2,255 sqft Uplands home listed for $650,000 (12% below its tax-assessed value).

 

The 3 least expensive new listings this week are 115 Haliburton St a 3 bed, 2 bath, 1,160 sqft South Nanaimo home listed for $484,900. 5557 Big Bear Ridge a 3 bed, 3 bath, 1,301 sqft Pleasant Valley home listed for $549,999. 3657 Sunrise Pl a 4 bed, 3 bath, 2,255 sqft Uplands home listed for $650,000.

 

The 3 most expensive new listings this week are 5031 Hinrich View a 6 bed, 5 bath, 5,488 sqft North Nanaimo home listed for $3,300,000. 5265 Cassidy Rd a 8 bed, 7 bath, 5,328 sqft Cedar home listed for $2,895,000. 191 Cilaire Dr a 5 bed, 5 bath, 4,431 sqft Departure Bay home listed for $2,498,000.

 

Notable New Sales

 

The 3 buyers that secured the largest discounts this week are the buyers of 4802 Laguna Way who secured a 10% discount off the $1,099,900 asking price (sale price $995,000). The buyers of 7158 Dickinson Rd who secured a 8% discount off the $1,240,000 asking price (sale price $1,135,000). The buyers of 209 Shiloh Dr who secured a 8% discount off the $979,900 asking price (sale price $905,000).

 

The 3 highest cost per sqft sales this week were 121 Pine St a 2 bed, 1 bath, 676 sqft Old City home sold for $510,000 ($754/sqft), 460 Nanaimo River Rd a 3 bed, 2 bath, 1,320 sqft Extension home sold for $944,000 ($715/sqft), 1560 Brebber Rd a 5 bed, 4 bath, 4,414 sqft Cedar home sold for $2,700,000 ($612/sqft).

 

The 3 highest sales this week were 1560 Brebber Rd a 5 bed, 4 bath, 4,414 sqft Cedar home sold for $2,700,000. 7158 Dickinson Rd a 3 bed, 2 bath, 2,524 sqft Lower Lantzville home sold for $1,135,000. 4802 Laguna Way a 4 bed, 4 bath, 3,808 sqft North Nanaimo home sold for $995,000.


 

This Week in John’s Life

 

That final week of summer certainly felt like the last week of summer. The temperature dipped across the Island, and as I moved around Nanaimo, you could distinctly feel that classic seasonal lull set in as everyone took a breath before the September rush.

 

Even with that quiet pause in the air, our team stayed highly productive across residential, commercial, and rural properties:

  • Uplands Sweat Equity Opportunity: We officially launched a fantastic property with incredible upside potential in the Uplands area.

  • Single-Level South Nanaimo Townhome: Introduced an immaculate, accessible 3-bedroom, 2-bathroom single-level townhome.

  • Parksville Light Industrial Warehouse: Successfully removed subjects on another commercial transaction in Parksville.

  • Nanaimo River Acreage: Removed subjects on a rare, beautiful parcel near the Nanaimo River.

  • Deerwood Retirement Home: Removed subjects on a sought-after home in the vibrant Deerwood community.

  • Introduced an epic Vintage Nanaimo home to the market (video here) & a North Nanaimo Townhome (video here).

 

On a personal note, I spent the weekend in deep nostalgia. I had the bittersweet privilege of watching my oldest daughter, Avery, pack up and head off to the University of Victoria to live on campus and officially kick off her post-secondary journey.

 

It is truly a surreal, mind-blowing experience to watch your child step out into the world and live on her own for the first time; a feeling I know so many parents out there can attest to. My head is still trying to wrap around how quickly that time arrived!

 

Meanwhile, back at home, June kicked off Grade 11 at NDSS. She seems genuinely thrilled to have the high school hallways entirely to herself this year without her older sister looking over her shoulder. Seeing both girls step into these new phases is a proud dad moment.

 

With September underway, it feels incredible to get back into a structured daily groove; dialed-in routines, focused morning workouts, and full-throttle client advocacy.

 

We have a significant amount of inventory to move between now and December. If you’ve been thinking about selling and want your transaction completed inside of 2026, the reality is simple: you are quickly running out of time. The fall market window is condensed and moves fast.

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