Five Acres, Nanaimo - September 2026 Real Estate Report

Five Acres, Nanaimo: Your Neighbour Just Got a Reality Check on Their Home Value

If you own a home in Five Acres and you haven't looked past your BC Assessment notice, you're working with stale numbers. Here's what's actually happening on the ground right now.

The Vibe: What the Market Is Doing in Five Acres

Let's split this into the two stories playing out in our neighbourhood right now - houses and condos are moving in very different directions.

Houses: Taking a Breather

The house market in Five Acres has cooled off. Only 2 homes sold recently, down 50% from the month before. The average sale price came in at $666,500 - a 15.5% drop from last month. Homes are sitting on the market for an average of 39 days, and buyers are paying about 96 cents on the dollar. That means if you list at $700,000, expect offers closer to $672,000.

• Average sale price: $666,500
• Average list price: $694,450
• Price per square foot: $447
• Average days on market: 39
• Sale-to-list ratio: 95.99%
• Predicted market value: $707,162
• 3-month moving average: $705,297
• Estimated monthly rent: $3,230
• Rental yield: 5.25%

The predicted value of $707,162 is nudging above the 3-month average of $705,297, so we're not in freefall - just a softer patch. On the Nanaimo neighbourhood leaderboard, Five Acres houses rank 7 out of 19 for growth. That puts us in above-average territory, even if it doesn't feel like it right now. For context, we're priced higher than nearby Southend (predicted at $638,488) but below Harewood ($759,401).

Condos: A Different Story Entirely

If you own a condo in Five Acres, pay attention. This is the standout segment in our neighbourhood right now. The average HonestDoor Price for condos sits at $1,340,402 - up 2.37% from the previous period. The predicted market value is $1,309,384, and that number is climbing fast compared to the 3-month moving average of $1,218,996.

• Average HonestDoor Price: $1,340,402 (up 2.37%)
• Predicted market value: $1,309,384
• 3-month moving average: $1,218,996
• Recent value change: 7.81%
• Estimated monthly rent: $4,144
• Rental yield: 3.39%
• Airbnb estimate: $207 per night

On the Nanaimo neighbourhood leaderboard, Five Acres condos rank 1 out of 18 for growth. That's not a typo - we're sitting at the top of the city for condo value growth right now. Every nearby neighbourhood - Southend, Harewood, Chase River - is cheaper. By a lot.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now

Here's the thing about BC Assessment. That number was calculated using data from July 1st of the previous year. The market has moved since then. For houses in Five Acres, the average assessed value is $747,131 - but the average HonestDoor Price is $696,369. That's a gap of nearly $51,000, or 6.79% lower than what the government says your home is worth.

That gap matters. If you're pricing a listing based on your assessment, you could be starting too high and sitting on the market longer than you need to. The HonestDoor Price updates in real time, pulling from actual transaction data and current market signals. It's the real-world check your assessment can't give you.

Yes, the HonestDoor Price for houses has dipped 1.53% from the previous period. That's the market talking. Your assessment hasn't caught up to that conversation yet.

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

For house sellers, the honest answer is: timing and pricing are everything right now. Buyers have options, they're negotiating, and homes that aren't priced right are sitting for 39 days or more. That's not a disaster - but it means you can't just slap your assessed value on a listing and expect a quick sale. Price sharp, present well, and move fast.

For condo owners, the picture is genuinely exciting. A 7.81% recent value change and a top-of-Nanaimo growth ranking means right now is a strong window to understand what you actually have. Whether you're selling, refinancing, or just keeping score, your condo is likely worth more than you think.

Either way, the smartest first move is checking your HonestDoor Price before you do anything else. It takes 30 seconds and it's the closest thing to a real-time appraisal you can get without hiring someone. Your neighbour's assessment notice is not your number - yours is.

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.