Harewood, Nanaimo - July 2026 Real Estate Report

Harewood, Nanaimo: What Your Neighbour Hasn't Told You Yet

If you own a home in Harewood and you're still looking at your city assessment to figure out what your place is worth, stop. That number is already out of date - and depending on whether you own a house or a condo, the gap between what the city thinks and what the market says is pretty significant right now.

The Vibe: Houses vs. Condos in Harewood

Houses - Fast Off the Market, But Watch the Numbers

Here's what's actually happening on the house side of Harewood. We had 15 property transactions in 2026 across the neighbourhood, and houses are moving fast - an average of 15 days on market. That earns us a days-on-market rank of 3 out of 16 neighbourhoods in Nanaimo. That's genuinely quick. Buyers are not sitting on their hands.

• Average assessed value: $666,377
• HonestDoor Price: $648,481 (down 0.45% from last period)
• Average sale price this month: $845,000
• Average list price this month: $869,000
• Price per square foot: $723
• Sale-to-list ratio: 97.24% - buyers are getting a slight discount
• Days on market: 15 (faster than nearby Westwood at 17 days)
• Estimated monthly rent: $3,053
• Rental yield: 5.35%
• Predicted market value: $653,720
• Neighbourhood growth rank: 12 out of 19 in Nanaimo

The 5.35% rental yield is the number landlords should be circling. That's a strong return by any measure. The growth rank of 12 out of 19 puts us in the middle of the pack - not leading the charge, but not falling behind either. Think of it as steady rather than flashy.

One thing worth noting: the HonestDoor Price for houses sits about 2.69% below the city's assessed value. That gap matters if you're pricing a listing or negotiating a purchase. The assessment hasn't caught up to where the real-world market is right now.

Condos - Affordable Entry Point, Surprising Growth

The condo story in Harewood is a different conversation entirely. We're sitting among the most affordable condo markets in Nanaimo - price rank of 12 out of 13 - but the growth numbers are turning heads. A 5.24% recent change in predicted value and a growth rank of 7 out of 18 puts Harewood condos solidly above average in Nanaimo right now.

• Average assessed value: $432,650
• HonestDoor Price: $777,223 (up 2.15% from last period)
• Average sale price this month: $309,750
• Average list price this month: $313,250
• Price per square foot: $427
• Sale-to-list ratio: 99.53% - almost full asking price
• Days on market: 46
• Estimated monthly rent: $3,033
• Rental yield: 3.63%
• Predicted market value: $760,836
• Neighbourhood growth rank: 7 out of 18 in Nanaimo - above average

Six condo transactions in 2026 so far, with 304 properties assessed. The days-on-market at 46 is slower than houses, but buyers are paying nearly full list price when they do move. That tells us demand is real - buyers just take longer to decide on condos here.

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

Your city assessment is a snapshot taken months ago using formulas that don't account for what's actually selling on your street today. It's not useless - but it's not the number you want to rely on when real money is on the table.

For Harewood house owners, the HonestDoor Price of $648,481 is already 2.69% below the city's assessed value of $666,377. If you're using that assessment to anchor your expectations, you could be starting from the wrong place. The HonestDoor Price pulls from real-time sales data, current listing activity, and market trends - it's the live read, not the archived one.

For condo owners, the gap is even more striking. The city assessed condos at an average of $432,650. The HonestDoor Price says $777,223 - that's 79.64% higher. Whether that full gap reflects your specific unit or not, it signals that the city's number is seriously lagging behind where the market actually is. Checking your HonestDoor Price right now isn't just a curiosity - it's a practical move before you make any decision about selling, refinancing, or even just understanding your net worth.

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

If you're a Harewood homeowner weighing a summer sale, here's the straight talk.

On the house side, demand is real. Fifteen days on market is fast, and a total transaction rank of 5 in Nanaimo means Harewood is one of the busier neighbourhoods for actual sales activity. Buyers are showing up. The sale-to-list ratio of 97.24% means you won't get every dollar of your asking price, but you'll get close - as long as you price it right from day one. Overpricing based on an inflated assessment is the fastest way to sit on the market longer than you need to.

On the condo side, the above-average growth rank of 7 out of 18 and a 5.24% recent value increase suggest momentum is building. Condos are still among the most affordable in Nanaimo, which means your buyer pool is actually larger than in pricier neighbourhoods. The 46-day average is slower, but buyers are paying nearly full list when they commit - so patience and accurate pricing are your best tools.

For both property types, the rental numbers are worth keeping in your back pocket. At $3,040 to $3,053 per month in estimated rent, Harewood holds its own as an income property play - especially with that 5.35% yield on houses. If selling isn't the right move this summer, renting isn't a bad backup plan either.

Bottom line: Harewood is not a neighbourhood that's cooling off dramatically. It's holding steady, moving reasonably fast, and offering solid returns. Check your HonestDoor Price before you do anything else - it's the most current read you've got.

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.