Northfield, Nanaimo - August 2026 Real Estate Report

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

If you own a home in Northfield and you have not looked at your HonestDoor Price lately, you are probably sitting on more equity than your last tax notice suggested. Here is the real picture.

The Vibe: What Is Actually Happening in Our Neighbourhood

Northfield is holding steady. We are not in a frenzy, and we are not in a slump. Think of it as a market that knows its own value. With 26 property transactions recorded in 2026 across 1,457 assessed properties, there is real activity here - just not the chaotic kind.

On the growth leaderboard for Nanaimo, Northfield houses rank 2 out of 19 neighbourhoods. That is a top-tier position. It means our houses are appreciating faster than almost everywhere else in the city, even while the broader market takes a breather.

Houses: Solid Ground for Sellers

• Average sale price: $647,109
• Average list price this month: $652,086
• Price per square foot: $630
• Sale-to-list ratio: 99.01% - buyers are paying very close to asking
• Average days on market: 36
• 7 properties sold recently - volume is stable

Houses here are selling at 99 cents on the dollar of list price. That is not a buyer's blowout - that is a balanced market where sellers still hold real leverage. The predicted market value sits at $714,412, up from a 3-month moving average of $710,601. The trend line is pointing in the right direction.

If you are renting out a house in Northfield, the numbers work. Estimated rent comes in at $3,256 per month with a rental yield of 5.28%. That is a strong return by any measure.

Condos: A More Cautious Picture

• Average sale price: $422,625
• Average list price this month: $432,000
• Price per square foot: $447
• Sale-to-list ratio: 97.69% - slight discount off list
• Average days on market: 60
• 4 properties sold recently

Condos are taking a breather. The predicted market value of $631,111 is dipping slightly below the 3-month moving average of $631,685, and the recent value change of -1.66% puts condo growth at rank 11 out of 18 in Nanaimo. Not alarming, but worth watching if you are thinking about timing a sale.

One bright spot - our condos are selling faster than nearby Departure Bay, where buyers are sitting on listings for 64 days versus our 60. Demand is still there, just more selective. Rental yield for condos sits at 3.83%, which is moderate but still positive cash flow territory.

The Secret Sauce: Your HonestDoor Price vs. Your Tax Assessment

Here is the number that should get your attention. The city's average assessed value for a house in Northfield is $655,312. The average HonestDoor Price is $719,980. That is a gap of nearly $65,000 - and the HonestDoor Price is 9.87% higher than what the assessment says.

Why does that gap exist? Government assessments are snapshots frozen in time. They are calculated months before you ever see them, using data that is already old. The HonestDoor Price pulls from real-time sales, current listing activity, and live market signals. It is the number that reflects what a buyer would actually write a cheque for today - not what a bureaucrat estimated last year.

For condos, the story is even more dramatic. The average assessed value is $327,799. The average HonestDoor Price is $607,394 - that is 85.29% higher than the city's figure. If you are making any financial decision based on your tax assessment alone, you are working with incomplete information.

The So What: Should You Sell in Northfield This Summer?

If you own a house, the timing is genuinely decent. You are in a neighbourhood that ranks near the top of Nanaimo for growth, buyers are paying close to full ask, and your real-world value is well above what the city has on file. A 36-day average sell time means you are not going to be waiting around.

If you own a condo, be a little more strategic. Values have dipped slightly in the short term, and 60 days on market means you need sharp pricing from day one. The gap between list price and sale price is wider here - buyers are negotiating. Price it right and you can still move it. Price it on hope and you will sit.

Either way, the first step is the same - check your HonestDoor Price before you do anything else. It is the real-world check against a static assessment, and right now in Northfield, that gap is too big to ignore.

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.