Hammond Bay, Nanaimo - August 2026 Real Estate Report

Hammond Bay Real Talk: You're Sitting on Nanaimo's Priciest Real Estate - But the Market Is Taking a Breather

If you own a home in Hammond Bay, you already know this neighbourhood punches above its weight. But here's what the numbers are actually telling us right now - and why the gap between your tax assessment and your real-world value matters more than ever.

The Vibe: Houses vs. Condos

Houses

We are sitting at the top of the Nanaimo price leaderboard. Houses here rank number 1 out of 19 neighbourhoods for price - nothing else in the city comes close. But "most expensive" does not mean "fastest moving" right now. The market is clearly taking a breather.

• Average sale price: $1,003,000
• Average list price this month: $1,041,600
• Price per square foot: $625
• Homes are selling at 96.77% of list price - buyers are negotiating, and winning
• Average days on market: 44 days
• Only 3 properties sold recently, with 16 total transactions recorded in 2026
• Predicted market value: $1,169,135
• Rental yield: 4.50% with estimated rent at $4,640 per month
• Growth rank: 10 out of 19 neighbourhoods - right in the middle of the pack
• Days-on-market rank: 12 out of 17 - homes here are slower to sell than most of Nanaimo

Forty-four days to sell is not a crisis, but it is a signal. Buyers are not rushing. They are comparing Hammond Bay against places like Newcastle, where homes are moving in 43 days at a fraction of the price. If you are pricing your home based on gut feel or last year's buzz, you are going to sit on the market longer than you need to.

Condos

The condo picture is more complicated. The HonestDoor Price is up 3.04% from the previous period - a bright spot. But the predicted market value of $672,900 is actually sliding below the 3-month moving average of $726,227. That is a meaningful gap, and it tells us the recent momentum may not be holding.

• Average HonestDoor Price: $693,380 (up 3.04% from last period)
• Predicted market value: $672,900
• 3-month moving average: $726,227
• Recent value change: -3.99%
• Estimated rent: $2,856 per month
• Rental yield: 3.63%
• Airbnb estimate: $146 per night
• Growth rank: 16 out of 18 neighbourhoods - near the bottom of the Nanaimo leaderboard

That growth rank is the number to watch. Sitting at 16 out of 18 puts Hammond Bay condos among the weakest performers in the city right now. If you own a condo here and are thinking about your next move, this is not the time to wait and hope the numbers turn around on their own.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Here is the thing about your BC Assessment notice. It reflects what your property was worth on July 1 of the previous year. By the time it lands in your mailbox, it is already stale. The city assessed the average Hammond Bay home at $1,088,407. But the HonestDoor Price for houses here is $1,166,647 - that is $78,240 higher, a gap of 7.19%.

That difference is not a rounding error. It is real money. The HonestDoor Price pulls from current market activity and updates in real time, so it reflects what a buyer would actually pay today - not what a government formula calculated almost a year ago. Hammond Bay also holds the number 1 spot in Nanaimo for average assessed value, which means the stakes here are higher than almost anywhere else in the city. Getting the number right is not optional.

For condos, the HonestDoor Price is showing a 3.04% increase from the previous period. That is useful information whether you are a buyer, a seller, or just keeping tabs on your equity. Your assessment will not show you that kind of current movement. HonestDoor will.

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

Let's be straight with each other. Hammond Bay is still Nanaimo's most expensive neighbourhood - that is not changing. But if you are planning to list a house this summer, the data is giving you a clear message: price it right from day one.

Homes are sitting for 44 days on average. Buyers are paying about 3.2% below list price. Every nearby neighbourhood - Departure Bay, Newcastle, Linley Valley - is cheaper and growing faster. That means buyers have options, and they know it.

The sellers who will win this summer are the ones who come in priced at or close to the HonestDoor Price of $1,169,135 for houses, not anchored to an inflated wish number. Overpricing in this market does not create a bidding war - it creates a stale listing that buyers start to wonder about.

• Airbnb rank in Nanaimo: number 1 - if you have a property with short-term rental potential, Hammond Bay is the best address in the city for it
• 1,342 properties assessed in the neighbourhood - this is a large, established market with real comparable data to lean on
• Rental estimate of $4,632 per month for houses - strong income potential if selling is not the right move right now

Bottom line: Hammond Bay is still a premium address. But premium does not mean immune to market conditions. Check your HonestDoor Price, be realistic about days on market, and if you are selling this summer - get ahead of the curve before the fall inventory picks up.

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.