Chase River, Nanaimo - October 2026 Real Estate Report
Chase River, Nanaimo: Your Home Is Worth Less Than The City Thinks - And That Actually Matters
If you have been watching the "For Sale" signs on your street and wondering what is really going on, here is the straight answer. Chase River is a solid, mid-range neighbourhood in Nanaimo right now - but the gap between what the city says your home is worth and what a buyer will actually pay is significant. That gap is the whole story this season.
The Vibe: Houses vs. Condos in Chase River
Let us start with houses, because that is where most of us live. The average sale price is sitting at $799,667, and listings are coming in around $829,933. Homes are selling at 96.41% of list price, which means buyers are negotiating - and winning. On average, houses are sitting on the market for 38 days before a deal gets done. That is not a fire sale, but it is not a frenzy either. We are in a stable buyers market, plain and simple.
The predicted market value for a Chase River house right now is $695,927, and that number has dipped 2.40% recently. It is also trending below the 3-month moving average of $705,218. The market is taking a breather. Growth ranks 14 out of 18 neighbourhoods in Nanaimo - that puts us in the below-average tier on the neighbourhood leaderboard. Days on market ranks 7 out of 16, which is actually a decent sign - homes here are not sitting forever.
- Average sale price (houses): $799,667
- Average list price: $829,933
- Sale-to-list ratio: 96.41%
- Average days on market: 38
- Price per square foot: $590
- Rental yield: 5.24%
- Estimated monthly rent: $3,170
- Properties sold in 2026: 27 total transactions
- Growth rank: 14 out of 18 in Nanaimo
- Price rank: 8 out of 19 in Nanaimo (above average)
Now for condos. The HonestDoor Price for condos in Chase River is $498,716 - and it has actually moved up 4.45% from the previous period, which is the one bright spot in this update. That said, the predicted value is $477,447, down from a 3-month average of $483,522, and values have shifted -1.97% recently. The rental yield on condos is 3.87%, which is moderate. Growth ranks 16 out of 18 in Nanaimo - near the bottom of the leaderboard. If you own a condo here, that number deserves your attention.
- Average HonestDoor Price (condos): $498,716
- HonestDoor Price change: up 4.45%
- Predicted market value: $477,447
- 3-month moving average: $483,522
- Estimated monthly rent: $2,375
- Rental yield: 3.87%
- Growth rank: 16 out of 18 in Nanaimo
The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Counts
Here is the thing about your city assessment. It is a snapshot from the past. The average assessed value for a Chase River house is $823,382. But the average HonestDoor Price is $698,242. That is a gap of over $125,000 - and the HonestDoor Price is 15.20% lower than what the city has on file.
Your tax assessment does not update in real time. It does not know that buyers are negotiating below list price right now. It does not know that values have slipped 2.40% recently. The HonestDoor Price does. It pulls from actual market activity and recalculates constantly, so it reflects what a real buyer would put on the table today - not what an assessor estimated months ago.
If you are making any financial decision based on your city assessment right now - whether that is pricing your home, refinancing, or just understanding your net worth - you are working with an outdated number. Check your HonestDoor Price first. It is the real-world check your assessment cannot give you.
The "So What?": Thinking About Selling This Summer?
Selling in Chase River this summer is absolutely doable - but you need to go in with clear eyes. Buyers here are informed. They know homes are selling below list. They know values have softened. If you price based on your city assessment, you will likely sit on the market longer than that 38-day average and end up negotiating down anyway.
The smarter move is to price close to the HonestDoor Price range from the start. Homes priced right are still moving. The days-on-market rank of 7 out of 16 tells us Chase River is not a slow market - it is a realistic one. Price it right, and you will find a buyer.
One more thing worth knowing. If you are a landlord or thinking about becoming one, the rental story here is actually decent. A 5.24% rental yield on a house is strong. Estimated rent of $3,170 per month gives you real cash flow. That is a legitimate reason to hold if selling does not feel urgent right now.
Bottom line for Chase River this summer - price smart, use your HonestDoor Price as your anchor, and do not let an inflated city assessment set expectations that the market will not meet.
chase river | nanaimo | october 2026This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.