Harewood, Nanaimo - August 2026 Real Estate Report

Harewood Real Talk: Your Home Is Probably Worth Less Than the City Thinks

If you own a place in Harewood and you have not checked your numbers lately, now is the time. The city's assessment is pointing one direction, the actual market is pointing another, and the gap between them is costing some of us a clear picture of what we actually own.

The Vibe: What Is Happening With Houses and Condos Right Now

Houses

We saw 3 house sales in Harewood in the most recent period - down 25% from the month before. That slowdown is real. Homes are sitting on the market for an average of 23 days, which is longer than nearby Westwood at 17 days. Buyers are paying 99.95% of list price, so there is almost no negotiating room, but prices are still sliding. The average sale price came in at $469,000, down 25.4% from last month. That is a big single-month move and worth watching.

• Average sale price: $469,000
• Average list price this month: $469,300
• Price per square foot: $450
• Average days on market: 23
• Sale-to-list ratio: 99.95%
• Predicted market value: $650,105
• Estimated monthly rent: $3,040
• Rental yield: 5.35%
• Growth rank: 7 out of 19 neighbourhoods in Nanaimo
• Price rank: 18 out of 19 - one of the most affordable in the city

That 5.35% rental yield is genuinely strong. If you are holding a house in Harewood and not selling, the rental math actually works in your favour right now.

Condos

The condo picture is a bit different. Only 1 condo sold last month - down 50% from the month before. The average sale price was $265,000, down 14.4% month over month, and buyers paid just 96.4% of list price. That gap between asking and selling tells us buyers have some leverage here. On the flip side, the predicted market value for condos sits at $777,223, which is actually trending up against the 3-month moving average of $753,682. So while recent sales are soft, the longer-term value signal is moving in a better direction.

• Average sale price: $265,000
• Average list price this month: $274,900
• Price per square foot: $311
• Average days on market: 18
• Sale-to-list ratio: 96.40%
• Predicted market value: $777,223
• Estimated monthly rent: $3,036
• Rental yield: 3.64%
• Growth rank: 6 out of 18 neighbourhoods in Nanaimo
• Days-on-market rank: 2 out of 13 - condos here sell fast when they do sell
• Price rank: 11 out of 13 - still very affordable in the Nanaimo condo market

Harewood condos are also beating nearby Townsite on price - the average sale here was $265,000 versus $215,000 in Townsite, so we are holding a slight edge there.

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

Here is the thing about your city assessment - it is a snapshot from the past. It does not update when the market shifts, and right now the market is shifting. For houses in Harewood, the average city assessment sits at $666,377. The HonestDoor Price is $647,255. That is a $19,000 gap, and the HonestDoor number is the one that reflects what is actually happening on the street today - not what was happening when the assessor last ran the numbers.

For condos, the gap is even more striking in the other direction. The average assessed value is $432,650, but the average HonestDoor Price is $762,167 - that is 76% higher than what the city has on file. If you own a condo in Harewood and you are making any financial decisions based on your assessment alone, you are working with a number that is seriously out of date.

The HonestDoor Price updates in real time using actual transaction data. It is the real-world check against a static government number. Check yours at HonestDoor before you do anything else.

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

Straight talk: the house market in Harewood is taking a breather. Prices are down, sales volume is down, and homes are sitting a bit longer than the competition nearby. That does not mean you should panic - it means you need to price sharp from day one. With buyers paying essentially list price on houses, there is no room to start high and negotiate down. You get one shot at a first impression.

For condo owners, the window might actually be tighter. Only 1 condo sold last month, but when condos do move here, they move fast - we rank 2nd out of 13 Nanaimo neighbourhoods for speed of sale. A well-priced condo in Harewood this summer could find a buyer quickly. The key word is well-priced.

With 21 total property transactions recorded in 2026 across 2,599 assessed properties, this is not a high-turnover neighbourhood. That means when you do list, you are one of a small number of options for buyers who have already decided they want Harewood. Use that to your advantage - but do not overprice it. Check your HonestDoor Price, compare it to your assessment, and have an honest conversation about where the market actually is before you plant that sign in the yard.

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.