Hammond Bay, Nanaimo - September 2026 Real Estate Report

Hammond Bay, Nanaimo: Your Home Is Worth More Than the City Thinks

If you own property in Hammond Bay and you have not looked at your numbers lately, here is the short version: the city's assessment is already behind. The average assessed value sits at $1,088,371, but the average HonestDoor Price is $1,145,453 - that is a $57,082 gap. That gap is your real-world equity, and it matters whether you are selling, refinancing, or just keeping score.

The Vibe - What Is Actually Happening Out Here

Hammond Bay is not a neighbourhood in a hurry right now, and that is not necessarily a bad thing. With 1,341 properties assessed and only 19 transactions recorded in 2026, we are not seeing a flood of listings. This is a community where people tend to stay put. But for those of us watching the market closely, there are two very different stories depending on whether you own a house or a condo.

Houses - Steady, Expensive, and Holding Their Ground

If you own a house in Hammond Bay, you are sitting near the top of the Nanaimo price leaderboard. Houses rank 2 out of 19 neighbourhoods for price - meaning almost nowhere else in the city costs more. Here is what the numbers actually look like right now:

• Average sale price: $980,000
• Average list price this month: $998,000
• Price per square foot: $617
• Homes are selling at 98.70% of list price - buyers are getting a small discount, but sellers are not giving much away
• Average days on market: 27 - moderately fast for Nanaimo, ranking 7 out of 15 neighbourhoods
• Predicted market value: $1,166,614
• Estimated monthly rent: $4,632 with a rental yield of 4.50%

The honest read here? Houses are taking a breather. Values are down a slight 0.21% recently, and the predicted value of $1,166,614 is just below the 3-month moving average of $1,171,784. Growth ranks 13 out of 19 neighbourhoods - below average on the Nanaimo leaderboard. This is not a crash, it is a pause. But it is worth paying attention to, especially if you are thinking about timing a sale.

Condos - A Quieter Story With a Brighter Trend

Condo owners in Hammond Bay are actually seeing something more encouraging right now. While the HonestDoor Price of $676,320 has dipped 2.46% from the previous period, the short-term trend is moving in the right direction. The predicted market value of $693,380 is climbing above the 3-month moving average of $689,047 - meaning momentum is building, not fading.

• Average HonestDoor Price: $676,320
• Predicted market value: $693,380
• 3-month moving average: $689,047 - current value is above this, a positive sign
• Recent value change: up 3.04%
• Growth ranks 4 out of 18 Nanaimo neighbourhoods - above average on the leaderboard
• Estimated monthly rent: $2,854 with a rental yield of 3.62%
• Airbnb estimate: $142 per night

For condo owners, that 4th-place growth ranking is genuinely good news. It means Hammond Bay condos are outperforming most of the city right now on momentum.

The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here is the thing about your city assessment: it is a snapshot from months ago, built on a formula that does not care what your neighbour's place just sold for last Tuesday. The HonestDoor Price updates in real time using actual transaction data. For houses in Hammond Bay, that means a $57,082 difference between what the city says your home is worth and what the market actually reflects. That is not a rounding error - that is a renovation budget, a down payment on a cabin, or serious negotiating power at the bank. Do not let a stale government number define your biggest asset.

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

Here is the straight talk for anyone weighing a summer sale in Hammond Bay.

• You are in one of Nanaimo's most expensive neighbourhoods - that works in your favour for attracting serious buyers
• Homes are sitting for about 27 days on average, which is not lightning fast but is not slow either
• Buyers are paying close to list price at 98.70% - price your home right and you will not leave much on the table
• The HonestDoor Price for houses is $1,145,453 - use this as your starting benchmark, not the city's $1,088,371
• Growth is ranked 13 out of 19 right now - the market is not accelerating, so waiting for a big price jump may not pay off
• If you own a condo and are thinking about selling, the upward momentum and 4th-place growth rank suggest your timing could actually be solid

Hammond Bay is still one of the best addresses in Nanaimo. The Airbnb rank of 1 in the city tells you something real - people want to be here. But the window for peak pricing on houses is not wide open right now. If selling is on your radar, price it sharp, know your real number, and move with confidence.

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.