Five Acres, Nanaimo - October 2026 Real Estate Report
Five Acres, Nanaimo: Your Home Is Probably Worth Less Than the City Thinks
If you have been glancing at your latest property assessment and feeling pretty good about yourself, hold on. The real-world numbers tell a different story right now - and if you are thinking about selling this summer, you need to know the gap before you price yourself out of the market.
The Vibe: What Is Actually Happening in Five Acres
Let us start with the big picture. Five Acres had 32 property transactions in 2026 across 1,720 assessed properties. That is not a flood of activity, but the neighbourhood ranked 4th in Nanaimo for total transactions - so we are moving more homes than most. Year-over-year growth sits at 0.04%, which is modest. The market is not running hot, but it is not falling apart either. Think of it as taking a breather.
Houses: Buyers Are Gaining the Upper Hand
If you own a house in Five Acres, here is the honest read on where things stand.
- Average sale price: $665,000 - down 2.2% from last month
- Average list price this month: $699,999
- Price per square foot: $597
- Homes are selling at 95% of list price - buyers are negotiating, and winning
- Average days on market: 49 days
- Predicted market value: $696,471
- 3-month moving average: $702,342 - and the trend is heading down
- Recent value change: -1.53%
- Estimated monthly rent: $3,197 with a rental yield of 5.27%
Homes are sitting for 49 days on average, which actually beats nearby Southend at 68 days - so demand here is relatively solid. But the 95% sale-to-list ratio means buyers are not paying full price. If you list at $699,999, history says you are walking away closer to $665,000. Price it right from day one or you will be chasing the market down.
On the neighbourhood leaderboard, Five Acres houses rank 4 out of 18 for growth rate in Nanaimo - that puts us in the above-average tier. Price rank is 13 out of 19, so we are not the priciest street on the block. Days-on-market rank is 10 out of 16, meaning properties here move at a middling pace compared to the rest of the city.
Compared to nearby neighbourhoods, the average sale price of $665,000 beats Southend at $577,000. Harewood's predicted value of $758,228 is higher than ours at $696,471, and Southend comes in lower at $658,695. We sit comfortably in the middle of the pack.
Condos: A Different Animal Entirely
Condos in Five Acres are a separate conversation - and a surprising one.
- Average HonestDoor Price: $1,303,800 - down 2.73% from the previous period
- Predicted market value: $1,340,402
- 3-month moving average: $1,288,099 - and the trend here is actually climbing
- Recent value change: +2.37%
- Estimated monthly rent: $4,127 to $4,166
- Rental yield: 3.38% - moderate, but not bad for this price point
- Airbnb estimate: $205 per night - ranked 5th in all of Nanaimo for Airbnb potential
The condo segment here is punching well above its weight on Airbnb. A rank of 5th in Nanaimo for short-term rental income is a real number worth paying attention to if you are weighing your options. The predicted value is rising against the 3-month average, which is the opposite of what we are seeing with houses. Growth rate ranks 7 out of 18 in Nanaimo - solidly above average. Nearby condo markets in Southend, Harewood, and Chase River all come in cheaper, which tells you Five Acres condos occupy a premium tier locally.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here is the thing about your city assessment. It is a snapshot from months ago, built on a formula that does not know what happened on your street last Tuesday. The average assessed value in Five Acres sits at $747,131 for houses. The average HonestDoor Price is $692,454 - that is 7.32% lower, and it has dipped another 0.58% since the last update.
That gap is not a rounding error. It is roughly $54,000 of difference between what the city says your home is worth and what the market is actually paying right now. If you are using your assessment to set your list price, you could be starting the conversation in the wrong place entirely. The HonestDoor Price pulls from real-time transaction data - it is the live market check, not the government's rearview mirror.
For condos, there is no assessed value comparison available, but the HonestDoor Price of $1,303,800 against a predicted value of $1,340,402 suggests the market is still finding its footing at the top end.
The So What: Should You Sell in Five Acres This Summer?
If you own a house and are thinking about listing, the window is open - but it is not wide open. Prices are sliding month over month, the 3-month trend is pointing down, and buyers are successfully negotiating below list. Waiting for the market to bounce back could cost you more than acting now at a sharp price.
The play here is simple. Price close to the HonestDoor Price of $692,454, not the assessed value of $747,131. Buyers are doing their homework. They will find the same data you are reading right now. A home priced at $699,999 that sells at 95% of list gets you $664,999. A home priced at $747,000 that sits for 60 days and then gets reduced ends up in the same place - but with more stress and carrying costs along the way.
If you own a condo, the picture is a bit brighter. Values are trending up against the 3-month average, Airbnb potential is among the strongest in Nanaimo, and the rental yield at 3.38% still makes sense for investors. If you are a condo owner thinking about selling, you have a little more room to be patient - but keep watching that HonestDoor Price for any signs the momentum shifts.
Bottom line: Five Acres is a solid neighbourhood sitting in a market that is cooling at the house level and holding steadier at the condo level. Know your real number before you make any moves.
five acres | 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.