Weekly Real Estate Take - September 2026 - Week 5

Key Takeaways from the September Week 5 Data

• Completed transactions were identical to last week at 17 sales, marking back-to-back weeks of steady, predictable buyer activity following the mid-month volatility.

• New inventory came in at 42 listings, almost indistinguishable from last week's 41 units, indicating that the post-Labour Day listing surge has fully levelled off.

• Failed and expired listings dropped significantly to 15, down 35% from Week 4 and tying the summer low set back in July. The record-shattering 50-listing purge from Week 2 has fully run its course; the active inventory remaining on the market is much cleaner and better aligned with buyer expectations.

• Textbook Balanced Market (40.1% September Total): Over the entire 5-week month, Nanaimo absorbed 91 of 227 new listings, landing at a 40.1% monthly absorption rate. This reinforces a highly functional, balanced state where neither buyers nor sellers hold overwhelming leverage.

Synopsis for a Nanaimo Homeowner Planning Their Next Move

September closes with clear equilibrium, offering a stable setup for Q4 strategies.

 

For Sellers:

The market has settled into a consistent cadence of ~17 sales per week. With the initial autumn supply push behind us and failed listings falling to 15, well-priced homes are moving without having to compete against a runaway surge of fresh inventory. However, with 134 total cancellations across September outnumbering 91 total sales, buyers are still showing zero appetite for aspirational pricing. If your goal is to close before year-end, pricing strictly to recent fall comparable sales is mandatory.

 

For Buyers:

September delivered 227 brand-new options while maintaining a steady 40% monthly absorption rate. The Bank of Canada holding its key rate firm at 2.25% on September 2nd has kept borrowing costs predictable. You have a healthy selection of inventory, time to complete thorough property inspections, and full flexibility to negotiate terms and prices without facing the aggressive multi-offer dynamics seen in previous years.

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 2555 Departure Bay Rd a 5 bed, 2 bath, 3151 sqft Departure Bay home listed for $849,900 ($270/sqft), 5400 Entwhistle Dr a 4 bed, 4 bath, 3,470 sqft North Nanaimo home listed for $974,900 ($281/sqft), 5739 Bradbury Rd a 5 bed, 3 bath, 3,164 sqft North Nanaimo home listed for $899,000 ($284/sqft).

The 3 homes listed this week with the highest $/sqft are 307 Holly Ave a 2 bed, 1 bath, 812 sqft Central Nanaimo home listed for $599,900 ($739/sqft), 3079 Jameson Rd a 4 bed, 4 bath, 3,138 sqft North Jingle Pot home listed for $2,150,000 ($685/sqft), 7482 Copley Ridge Dr a 3 bed, 3 bath, 2,767 sqft Upper Lantzville home listed for $1,850,000 ($669/sqft).

The 3 homes priced the most below their assessed value are 5739 Bradbury Rd a 5 bed, 3 bath, 3,164 sqft North Nanaimo home listed for $899,000 (19% below its tax-assessed value), 7482 Copley Ridge Dr a 3 bed, 3 bath, 2,767 sqft Upper Lantzville home listed for $1,850,000 (12% below its tax-assessed value), 2364 Extension Rd a 4 bed, 4 bath, 2,661 sqft Chase River home listed for $799,900 (8% below its tax-assessed value).

The 3 least expensive new listings this week are 147 Victoria Rd a 4 bed, 2 bath, 1,746 sqft Old City home listed for $500,000. 2357 Barclay St a 2 bed, 2 bath, 1,079 sqft Diver Lake home listed for $524,900. 2131 Minto Ave a 2 bed, 1 bath, 1,025 sqft Extension home listed for $549,900.

The 3 most expensive new listings this week are 3079 Jameson Rd a 4 bed, 4 bath, 3,138 sqft North Jingle Pot home listed for $2,150,000. 7482 Copley Ridge Dr a 3 bed, 3 bath, 2,767 sqft Upper Lantzville home listed for $1,850,000. 8108 Southwind Dr a 4 bed, 4 bath, 3,114 sqft Upper Lantzville home listed for $1,585,000.

 

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 3744 Cavendish Blvd who secured a 8% discount off the $950,000 asking price (sale price $871,500). The buyers of 833 Jordon Ave who secured a 7% discount off the $699,999 asking price (sale price $650,000). The buyers of 5889 Turner Rd who secured a 7% discount off the $649,800 asking price (sale price $605,000).

The 3 highest cost per sqft sales this week were 8572 Rumming Rd a 4 bed, 4 bath, 2,452 sqft Lower Lantzville home sold for $1,885,000 ($769/sqft), 2551 Braun Rd a 5 bed, 5 bath, 4,630 sqft Cedar home sold for $2,875,000 ($621/sqft), 5031 Hinrich View a 6 bed, 5 bath, 5,488 sqft North Nanaimo home sold for $3,258,000 ($594/sqft).

The 3 highest sales this week were 5031 Hinrich View a 6 bed, 5 bath, 5,488 sqft North Nanaimo home sold for $3,258,000. 2551 Braun Rd a 5 bed, 5 bath, 4,630 sqft Cedar home sold for $2,875,000. 8572 Rumming Rd a 4 bed, 4 bath, 2,452 sqft Lower Lantzville home sold for $1,885,000.

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