Weekly Real Estate Take - September 2026 - Week 4

Key Takeaways from the September Week 4 Data

• Sales Rebound to 17 Units: Signed transactions recovered by 31% from last week's low of 13, settling back into a steady baseline of 17 sales.

• Supply Surge Moderates to 41 Listings: Following Week 3's autumn inventory surge of 59 homes, fresh supply throttled back to 41 new listings, easing immediate listing pressure on active inventory.

• Absorption Rebounds to 41.5%: The combination of lower incoming supply and higher sales velocity lifted the weekly absorption rate from 22.0% up to 41.5%, shifting conditions cleanly back into balanced territory.

• Cancellations Hold Flat Baseline: Failed and expired listings remained steady at 23, matching Week 3's count of 24 and confirming that the record 50-listing cleanout from mid-September was an isolated post-Labour Day reset.

Synopsis for a Nanaimo Homeowner Planning Their Next Move

The final week of September shows the Nanaimo single-family market stabilizing after a volatile start to the fall season, establishing a functional equilibrium as we head into Q4.

For Sellers:

The market has absorbed the initial shock of the post-Labour Day supply rush. With new listings moderating to 41, your property faces less immediate fresh competition than it did last week. However, with Q4 around the corner, sellers aiming to finalize a transaction inside 2026 must recognize that the window is closing. At a 41.5% absorption rate, buyers are actively buying turn-key properties that align strictly with recent fall comps, while overpriced homes continue to sit idle.

For Buyers:

September closes with a transparent, low-stress purchasing climate. The rebound in absorption proves that quality homes are moving, but the overall accumulation of inventory throughout the month provides you with significant choice. You maintain strong negotiating leverage to secure price adjustments, include financing and inspection subjects, and execute due diligence without facing multi-offer pressure.

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 614 Seventh St a 4 bed, 2 bath, 1,832 sqft South Nanaimo home listed for $449,000 ($245/sqft), 3665 Glen Oaks Dr a 6 bed, 4 bath, 4,921 sqft Hammond Bay home listed for $1,290,000 ($262/sqft), 3146 Robin Hood Dr a 5 bed, 3 bath, 3,245 sqft Departure Bay home listed for $920,000 ($284/sqft).

The 3 homes listed this week with the highest $/sqft are 7261 Lantzville Rd a 3 bed, 1 bath, 1,184 sqft Lower Lantzville home listed for $1,350,000 ($1140/sqft), 7545 Copley Ridge Dr a 3 bed, 3 bath, 3,396 sqft Upper Lantzville home listed for $2,990,000 ($880/sqft), 13545 Cedar Rd a 4 bed, 3 bath, 1,305 sqft Cedar home listed for $1,100,000 ($843/sqft).

The 3 homes priced the most below their assessed value are 614 Seventh St a 4 bed, 2 bath, 1,832 sqft South Nanaimo home listed for $449,000 (33% below its tax-assessed value), 5395 Lost Lake Rd a 4 bed, 3 bath, 2,858 sqft North Nanaimo home listed for $864,900 (11% below its tax-assessed value), 5749 Quarry Cres a 3 bed, 3 bath, 2,110 sqft Pleasant Valley home listed for $1,400,000 (10% below its tax-assessed value).

The 3 least expensive new listings this week are 614 Seventh St a 4 bed, 2 bath, 3,396 sqft South Nanaimo home listed for $449,000. 315 View St a 3 bed, 1 bath, 1,276 sqft South Nanaimo home listed for $450,000. 28 Riley Pl a 2 bed, 1 bath, 1,584 sqft Hammond Bay home listed for $499,900.

The 3 most expensive new listings this week are 7545 Copley Ridge Dr a 3 bed, 3 bath, 3,396 sqft Upper Lantzville home listed for $2,990,000. 6495/6499 Doumont Rd a 6 bed, 6 bath, 4,618 sqft Pleasant Valley home listed for $2,799,000. 2565 Departure Bay Rd a 4 bed, 3 bath, 2,746 sqft Departure Bay home listed for $1,999,900.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 1790 Waddington Rd who secured a 15% discount off the $329,000 asking price (sale price $280,000). The buyers of 3647 Overlook Dr who secured a 14% discount off the $950,000 asking price (sale price $820,000). The buyers of 159 Roberta Rd W who secured a 8% discount off the $789,000 asking price (sale price $728,000).

The 3 highest cost per sqft sales this week were 51 Lake Heights Pl a 3 bed, 3 bath, 3,738 sqft Pleasant Valley home sold for $2,350,000 ($629/sqft), 1790 Waddington Rd a 1 bed, 1 bath, 503 sqft Central Nanaimo home sold for $280,000 ($557/sqft), 3730 Departure Bay Rd a 3 bed, 2 bath, 1,380 sqft Departure Bay home sold for $695,000 ($504/sqft).

The 3 highest sales this week were 51 Lake Heights Pl a 3 bed, 3 bath, 3,738 sqft Pleasant Valley home sold for $2,350,000. 4287 Gulfview Dr a 6 bed, 3 bath, 3,161 sqft North Nanaimo home sold for $975,000. 5361 Westhaven Pl a 5 bed, 3 bath, 2,551 sqft North Nanaimo home sold for $949,900.

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

 

This Week in John’s Life

It’s been an exceptionally rewarding week of closing out big chapters and launching fresh opportunities across Vancouver Island:

• Parksville Commercial Milestone (18 of 18 Complete): We officially handed over the keys to the final light industrial warehouse in Parksville! This marks the completion of an 18-unit project that our team has represented and sold out over the past two years. Seeing a major development project cross the finish line in its entirety is an incredible feeling.

• North Nanaimo Condo Subject Removal: Successfully removed subjects on a fantastic North Nanaimo condo, keeping buyer momentum rolling strong.

• South Nanaimo Project Home Launch: Officially introduced a prime project home in South Nanaimo to the market; an exceptional opportunity for someone looking to build equity.

   

On Wednesday, I took a quick detour from property tours down to Victoria for the annual Charity Softball Tournament. I had the privilege of representing eXp Realty on the diamond, competing alongside and against about six other great brokerages from Victoria.

 

The weather was pristine, the camaraderie was top-tier, and honestly? I’ve never had so much fun losing every single game! Being able to get outside with industry colleagues, share plenty of laughs, and support a worthy cause makes any scoreboard completely irrelevant.

 

Between transactions, my calendar has been filled with homeowner consultations. Right now, there is a distinct and powerful theme emerging across Nanaimo: people are actively choosing to simplify.

 

Whether it's shedding extra property liabilities, rightsizing space, or downsizing both figuratively and spiritually, homeowners are arriving at the same realization; it’s time to refocus on what truly matters.

 

Navigating that transition can feel daunting, but helping people chart a clear, confident path out of overwhelm is the most fulfilling part of what I do. It’s not just real estate to me; it’s my work, and it’s genuinely what I was put here to do.

 

Feeling the weight of maintenance or extra liabilities, or curious about charting a simpler path forward for your home and lifestyle? Reply directly to this email or send me a message; let’s talk strategy and find your clarity.

- John Cooper

john@johncooper.ca