Long Lake, Nanaimo - July 2026 Real Estate Report

Long Lake, Nanaimo: Your Neighbour Just Got a Surprise on Their Assessment Notice

If you own a home in Long Lake and you have not checked your HonestDoor Price lately, you are probably leaving real money on the table. The city's assessment is one number. What buyers are actually paying - and what your home is worth right now - is a different story entirely.

The Vibe: What Is Actually Happening in Our Neighbourhood

Long Lake is holding steady in a market that has a lot of Nanaimo neighbourhoods guessing. We have 1,052 assessed properties on the house side and 408 condos, so there is real depth here. But houses and condos are telling two very different stories right now.

Houses - Steady and Quietly Competitive

If you have been watching the "For Sale" signs on the house side of Long Lake, here is what is actually happening. The market is stable, but it rewards sellers who price smart.

• Average sale price: $715,500
• Current average list price: $720,950
• Price per square foot: $786
• Homes are selling at 99.14% of list price - buyers are close to full ask, but not over it
• Average days on market: 38 days
• 4 properties sold recently
• Predicted market value: $809,047 - up from the 3-month average of $790,216
• Estimated rent: $3,569 per month with a rental yield of 5.11%
• Recent value change: up 2.03%

That 99.14% sale-to-list ratio tells us buyers are engaged but not desperate. You are not going to get a bidding war, but a well-priced home moves. The predicted value climbing past the 3-month average is a good sign - momentum is pointing up, not down.

On the neighbourhood leaderboard, Long Lake houses rank 2 out of 19 in Nanaimo for growth rate. That is a top-tier position. Days on market ranks 12 out of 16, so homes are not flying off the shelf, but the price growth more than makes up for the patience required.

Condos - Taking a Breather

The condo side of Long Lake is a different conversation. We are seeing some softness, and it is worth being honest about it.

• Average sale price: $297,333 - down 17.3% from last month
• Current average list price: $312,633
• Price per square foot: $429
• Properties sold at 95.09% of list price - buyers are negotiating, and winning
• Average days on market: 58 days
• 3 properties sold recently
• Predicted market value: $402,114 - slightly above the 3-month average of $397,082
• Estimated rent: $2,079 per month with a rental yield of 4.02%
• Recent value change: down 1.30%

That 17.3% month-over-month drop in sale price is a number worth watching. It does not mean the sky is falling - three sales is a small sample - but it does mean condo sellers need to be realistic right now. Buyers have options and they know it. The 58-day average on market confirms this is not a rush-and-grab situation for buyers.

On the neighbourhood leaderboard, Long Lake condos rank 15 out of 18 in Nanaimo for growth. That puts us near the bottom of the pack compared to other Nanaimo neighbourhoods. Something to factor in if you are deciding between holding and selling.

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 taken months ago, using data that is even older. It does not know what sold on your street last Tuesday. It does not adjust for the fact that Long Lake house values are trending upward right now.

The HonestDoor Price is the real-world check. For houses in Long Lake, the average HonestDoor Price is $804,111 - that is 6.54% higher than the average assessed value of $754,757. That gap is not small. On a typical home, that is roughly $49,000 the assessment is not capturing.

For condos, the HonestDoor Price sits at $393,991 versus an average assessed value of $378,858 - a gap of about $15,000. Even on the condo side, where the market is softer, the HonestDoor Price is tracking closer to reality than what the city has on file.

The HonestDoor Price updates continuously. Your tax assessment does not. If you are making any financial decision - refinancing, selling, or just curious what your net worth actually looks like - the HonestDoor Price is the number to start with.

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

If you own a house in Long Lake and you are thinking about listing this summer, the timing is not bad. Here is the honest breakdown.

• Predicted values are rising - $809,047 and climbing past the 3-month average
• Growth ranks 2 out of 19 in Nanaimo - we are outperforming most of the city
• Rental demand is strong at $3,569 per month and a 5.11% yield - buyers who are investors will notice this
• Nearby Rutherford ($843,553) and Linley Valley ($914,997) are priced higher, which positions Long Lake as relative value for buyers shopping the area

Price it right and you will sell. Price it greedy and those 38 days on market stretch into 60. The 99.14% sale-to-list ratio tells us the market is fair but not forgiving of overpricing.

If you own a condo and are thinking about selling this summer, the honest advice is to go in with clear eyes. The market is cooling, buyers are negotiating hard, and you are competing in a neighbourhood that ranks near the bottom of Nanaimo for condo growth right now. That does not mean you cannot sell - it means pricing at or slightly below the HonestDoor Price of $393,991 gives you the best shot at a clean, fast transaction instead of a long, frustrating one.

Either way, start by pulling your free HonestDoor Price at HonestDoor.com. Know your real number before you make any move.

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.