Hammond Bay, Nanaimo - October 2026 Real Estate Report
Hammond Bay, Nanaimo: Your Home Is Worth More Than the City Thinks
If you own a place in Hammond Bay and you have not looked at your numbers lately, now is the time. The city's assessment is sitting at an average of $1,088,371 - but the real-world market tells a different story. The average HonestDoor Price for Hammond Bay is $1,152,221. That is a gap of nearly $64,000 that the tax office is not showing you.
The Vibe: What Is Actually Happening in Our Neighbourhood
Hammond Bay holds the top spot in Nanaimo for average assessed value - ranked number 1 out of all neighbourhoods. We are not a cheap area, and the numbers back that up. But the market right now has some nuance depending on whether you own a house or a condo.
Houses: High Prices, Slow Sales
The average sale price for houses hit $980,000 last month, up 7.1% from the month before. That sounds great on the surface. But dig a little deeper and the picture gets more complicated.
- Average sale price: $980,000 (up 7.1% from last month)
- Average list price: $1,025,000
- Price per square foot: $502
- Homes sold for 95.61% of list price - buyers are negotiating below ask
- Average days on market: 99 days
- Only 1 home sold last month - down 50% from the month before
- HonestDoor predicted value: $1,145,453
- Rental yield: 4.53% with estimated rent at $4,575 per month
Ninety-nine days on market is a long time. Hammond Bay houses rank 16 out of 16 in Nanaimo for days-on-market speed - meaning our homes are the slowest-selling in the city right now. The market is taking a breather. Prices are still strong - we rank 2nd out of 19 neighbourhoods for price - but buyers have time on their side. They know it, and they are using it at the negotiating table.
On the neighbourhood leaderboard, Hammond Bay houses rank 7 out of 18 for growth. Solidly above average, but not leading the pack. The 3-month moving average for predicted value sits at $1,160,392, and the current predicted value of $1,145,453 is trending slightly below that. Worth watching.
Condos: A Different Story
Condo owners in Hammond Bay are seeing some pressure. The HonestDoor Price for condos is $712,340 - up a solid 5.33% from the previous period, which is a healthy jump. But the predicted market value sits at $676,320, which is running below the 3-month moving average of $680,867. Values have dipped 2.46% recently.
- Average HonestDoor Price: $712,340 (up 5.33%)
- Predicted market value: $676,320
- Estimated rent: $2,854 per month
- Rental yield: 3.63%
- Airbnb rank in Nanaimo: 9th
On the neighbourhood leaderboard, Hammond Bay condos rank 18 out of 18 for growth - last place in Nanaimo right now. That does not mean panic. It means condo owners here need to be realistic about pricing and timing if they are thinking about selling.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here is the thing about BC Assessment - it is a snapshot from July 1st of the previous year. By the time it lands in your mailbox, it is already old news. The market has moved on.
The HonestDoor Price updates in real time. For Hammond Bay houses, it is already 5.87% higher than the average assessed value. On a home assessed at $1,088,371, that gap represents roughly $63,850 in value that your assessment is not capturing. If you are making any financial decision - refinancing, selling, even just understanding your net worth - using the assessed value alone is leaving money on the table.
Hammond Bay also holds the number 1 Airbnb rank in all of Nanaimo. If you own here and you are not at least running the numbers on short-term rental potential, you are missing a conversation worth having. Houses are pulling an estimated $228 per night. Condos sit around $148 per night.
The So What: Thinking About Selling This Summer?
For house sellers, the honest answer is: you can still get a strong price, but you need to be sharp. Homes are sitting for 99 days on average. Buyers are landing deals at 95.61% of list price. That means if you list at $1,025,000, expect offers closer to $980,000. Price it right from day one - do not chase the market down.
The good news is Hammond Bay is still one of the most expensive neighbourhoods in Nanaimo. Demand exists. It just moves slowly here. Give yourself a longer runway than you think you need.
For condo sellers, the summer window matters more. With values trending down recently and a growth rank sitting at the bottom of the Nanaimo leaderboard, waiting is not your friend right now. If you are thinking about it, move sooner rather than later.
For everyone - house or condo - check your HonestDoor Price before you do anything else. It is the most current read on what your home is actually worth today, not what a government office decided it was worth last July.
- Total properties assessed in Hammond Bay: 1,341
- Transactions in 2026: 22 (ranked 11th in Nanaimo for volume)
- Hammond Bay Airbnb rank: 1st in Nanaimo
- Average assessed value rank: 1st in Nanaimo
Bottom line - Hammond Bay is still one of the best addresses in Nanaimo. But right now, the market rewards sellers who are informed and realistic. Know your number. Price it well. Do not wait for the city to catch up to what your home is actually worth.
hammond bay | 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.