Hammond Bay, Nanaimo - July 2026 Real Estate Report

Hammond Bay Real Talk: You're Sitting on Nanaimo's Most Expensive Real Estate - Here's What That Actually Means

If you own a house in Hammond Bay, you're already at the top of the Nanaimo price leaderboard. Not figuratively - literally. Houses here rank 1 out of 19 neighbourhoods for price. But the market is sending some mixed signals right now, and you need to know what they mean before you make any moves.

The Vibe: Houses vs. Condos - Two Very Different Stories

Let's be straight with each other, because the house and condo markets here are not telling the same story right now.

Houses - Steady, Premium, and Holding Ground

Our houses are doing what Hammond Bay houses do - holding serious value. The average sale price is sitting at $1,218,000, and listings are coming in at $1,229,000. Buyers are paying 99.22% of list price, which means almost full ask. That's a stable market, not a panicked one. Properties are moving in about 31 days, which is middle-of-the-pack for Nanaimo - not flying off shelves, but not sitting either.

• Average sale price: $1,218,000
• Average list price: $1,229,000
• Price per square foot: $677
• Average days on market: 31
• Sale-to-list ratio: 99.22%
• 3 properties sold in the most recent period
• Growth rank: 3 out of 19 neighbourhoods in Nanaimo - top tier

The predicted market value for houses is $1,179,661, and that number is climbing above the 3-month moving average of $1,158,413. Values have moved up 1.91% recently. We're not sprinting, but we're not standing still either.

On the rental side, estimated rent hits $4,668 per month with a 4.49% rental yield. That's a reasonable return for a property in this price range. Airbnb is also worth a look - Hammond Bay ranks 2nd in all of Nanaimo for Airbnb potential, with an estimated $231 per night.

Condos - Taking a Breather, and You Should Know About It

The condo picture is harder to sugarcoat. The average HonestDoor Price for condos is $672,900, and it has dropped 3.99% from the previous period. The predicted market value is $700,860, but that number is falling - the 3-month moving average was $759,940. That's a meaningful gap. Property values have shifted -12.93% recently, and condos here rank 18 out of 18 neighbourhoods in Nanaimo for growth. Dead last.

• Average HonestDoor Price (condos): $672,900
• Predicted market value: $700,860
• 3-month moving average: $759,940
• Recent value change: -12.93%
• Rental estimate: $2,856 per month
• Rental yield: 3.60%
• Growth rank: 18 out of 18 in Nanaimo

If you own a condo here, this is not the time to look away from your numbers. The market is telling you something.

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

Here's the thing about your city assessment - it's a snapshot from the past. The government looks at sale data from months ago, runs it through their formula, and mails you a number. By the time it lands in your mailbox, the market has already moved.

The average assessed value for Hammond Bay houses is $1,088,407. The average HonestDoor Price is $1,169,135. That's a gap of over $80,000 - and the HonestDoor Price is 7.42% higher than what the city says your home is worth.

That gap is your real-world check. If you're pricing a sale, negotiating with a buyer, or just trying to understand what you actually own, the HonestDoor Price is pulling from current market signals - not last year's data. For Hammond Bay houses specifically, the predicted value of $1,179,661 is already tracking above the HonestDoor average and moving upward. Your assessment is not keeping pace.

For condo owners, the HonestDoor Price is equally important - but for the opposite reason. It's showing a decline that a static assessment won't reflect yet. Knowing your real number now gives you options. Waiting for the city to catch up could cost you.

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

If you own a house in Hammond Bay and you're thinking about listing this summer, the conditions are about as good as they get in Nanaimo right now. You're in the most expensive neighbourhood in the city. Buyers are paying close to full ask. Values are ticking upward. The rental and Airbnb numbers give buyers a compelling backup story if they're investors. With only 3 sales in the recent period and 1,342 assessed properties in the neighbourhood, supply is tight relative to the base. That works in your favour.

The one thing to watch - days on market is ranked 10 out of 16 for houses. That means you need to price it right from day one. Overpricing in a market where buyers are already paying 99.22% of list means you'll sit, and sitting kills momentum.

If you own a condo and you're thinking about selling this summer - move with urgency. The trend line is pointing down. A -12.93% recent value shift and a last-place growth ranking are not signals to wait and see. Get your HonestDoor Price, understand where you actually stand versus the assessed value, and make a decision based on real numbers.

Compared to nearby neighbourhoods, Hammond Bay houses are the most expensive option in the area. Departure Bay, Newcastle, and Linley Valley are all cheaper - and all showing some growth. Buyers who get priced out of Hammond Bay don't disappear. They go next door. That's your competition for attention, and it's worth knowing.

• Departure Bay: HonestDoor Price $909,768 - Rental $3,920
• Newcastle: HonestDoor Price $732,138 - Rental $3,345
• Linley Valley: HonestDoor Price $914,997 - Rental $3,939

Bottom line - Hammond Bay is still Nanaimo's premium address. Houses are holding up well. Condos need attention. And your HonestDoor Price is the number you should be looking at, not the one on your assessment notice.

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.