Five Acres, Nanaimo - July 2026 Real Estate Report

Five Acres, Nanaimo: What's Actually Happening With Home Prices Right Now

If you've been watching the "For Sale" signs in Five Acres and wondering whether now is the time to make a move, here's the straight story - no fluff, no spin, just the numbers and what they mean for your wallet.

The Vibe: Houses Are Taking a Breather, Condos Are a Different Story

We're seeing two very different markets in Five Acres right now, and it matters which side of that fence you're on.

Houses: The average sale price this month is $615,000, which is down 17.4% from last month. That's a significant drop. Only 1 house sold this month, and it sat on the market for 49 days before it did - longer than nearby Harewood at 46 days. Buyers are paying about 94.63% of list price, meaning sellers are giving ground. The predicted market value for a house here sits at $705,153, which is actually ticking up slightly from the 3-month moving average of $703,567. So the longer view is steadier than the month-to-month noise suggests. On the neighbourhood leaderboard, houses in Five Acres rank 15 out of 19 for growth, 15 out of 19 for price, and 15 out of 16 for days on market. That last one is the one to watch - homes here are among the slowest-selling in all of Nanaimo right now.

Condos: This is where it gets interesting for us. The HonestDoor Price for condos in Five Acres is $1,214,510 - up 7.19% from the previous period. The predicted market value is $1,133,094, rising from a 3-month moving average of $1,084,886. Property values have shifted 8.53% recently. On the neighbourhood leaderboard, Five Acres condos rank 3 out of 18 for growth in Nanaimo. That puts us near the top of the city. Rental potential is strong too, with an estimated $3,888 per month and an Airbnb rate around $199 per night - ranking 5th in Nanaimo for Airbnb income potential.

• House average HonestDoor Price: $702,736 (down 0.34%)
• House predicted market value: $705,153
• House average sale price this month: $615,000
• House price per square foot: $540
• House rental estimate: $3,218 per month
• House rental yield: 5.25%
• House days on market: 49 days
• Condo HonestDoor Price: $1,214,510 (up 7.19%)
• Condo predicted market value: $1,133,094
• Condo rental estimate: $3,888 per month
• Condo rental yield: 3.48%
• Condo Airbnb estimate: $199 per night
• Total transactions in 2026: 19
• Properties assessed this year: 1,720

The Secret Sauce: Your Tax Assessment Is Already Out of Date

Here's something most Five Acres homeowners don't realize. The average assessed value for a house here is $747,131. But the HonestDoor Price - which pulls from real-time market data, not a once-a-year government snapshot - puts the average at $702,736. That's a gap of nearly $45,000, or 5.94% lower than what the city has on file.

Why does that matter? Because your BC Assessment was calculated months ago using old sales data. The market has moved since then. If you're making any decision - selling, refinancing, buying out a partner, or just figuring out where you stand - you want the number that reflects today, not last year. The HonestDoor Price is that real-world check. It updates continuously. Your assessment doesn't.

For condo owners, the story flips. The HonestDoor Price of $1,214,510 is climbing fast - up 7.19%. If your assessment hasn't caught up to that, you may be sitting on more equity than you think.

The "So What?" - Thinking About Selling This Summer?

If you own a house in Five Acres and you're thinking about listing this summer, go in with clear eyes. The market is cooling. Buyers are negotiating. Homes are sitting for nearly 7 weeks on average before selling. That doesn't mean you can't sell - it means pricing it right from day one is everything. Overpricing and chasing the market down is the worst outcome here.

Compare that to Chase River, where the HonestDoor Price is $705,916 - just slightly above Five Acres houses - and Harewood at $648,481. We're not the cheapest option in the area, so we need to compete on condition and price, not just location.

If you own a condo in Five Acres, the picture is genuinely more encouraging. Values are rising, rental demand is strong at $3,888 per month, and we're ranking near the top of Nanaimo for growth. If you've been on the fence about selling, the window looks better now than it did 6 months ago - and better than most of our neighbours can say.

Bottom line: check your HonestDoor Price before you do anything else. It takes 30 seconds and it's the most current number you'll find. Your tax assessment is a starting point - not a selling price.

This 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.