Northfield, Nanaimo - September 2026 Real Estate Report

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

The Vibe Right Now

If you've been watching the "For Sale" signs in Northfield, here's what's actually happening. The market is steady - not on fire, not falling apart. Houses are moving, condos are slower, and the gap between what the city says your place is worth and what buyers will actually pay is significant. That gap is where the real story is.

Houses - Solid Ground

For those of us in houses, the numbers are holding up well. The average sale price sits at $727,500, and listings are coming in around $746,175. Homes are selling at 97.62% of list price, which means buyers are negotiating a little - but not much. That's a healthy, stable market, not a fire sale.

• Average sale price: $727,500
• Average list price this month: $746,175
• Price per square foot: $478
• Average days on market: 24
• Properties sold recently: 4
• Sale-to-list ratio: 97.62%
• Predicted market value: $719,980
• Estimated monthly rent: $3,253
• Rental yield: 5.28%

That 5.28% rental yield is worth paying attention to. For investors in our neighbourhood, that's a strong return. The predicted value of $719,980 is also trending up from the 3-month moving average of $715,231 - a small but positive move. On the neighbourhood leaderboard, Northfield houses rank 4 out of 19 in Nanaimo for growth. That puts us in the top tier, ahead of most of the city.

Condos - Take a Closer Look Before You Assume

The condo picture is a bit more complicated, and we should be honest about it. Only 2 condos sold recently, with an average sale price of $350,000. Values have dipped 3.76% recently, and on the Nanaimo growth leaderboard, Northfield condos rank 18 out of 18. That's the bottom of the pack right now.

• Average sale price: $350,000
• Average list price this month: $357,500
• Price per square foot: $298
• Average days on market: 24
• Properties sold recently: 2
• Sale-to-list ratio: 97.79%
• Predicted market value: $607,394
• Estimated monthly rent: $2,517
• Rental yield: 3.85%

The predicted market value of $607,394 is also sliding - it's down from the 3-month average of $626,762. If you own a condo here, this is not the moment to sit back and wait. The market is taking a breather, and knowing your real number matters more right now than it did six months ago.

The Secret Sauce: Your HonestDoor Price vs. That City Assessment

Here's the thing most Northfield homeowners don't realize. The city's assessed value is a snapshot from the past. It doesn't update in real time, and it doesn't reflect what a buyer would actually put on the table today.

For houses in Northfield, the average city assessment is $655,312. The average HonestDoor Price is $700,191. That's a $44,879 difference - and it's 6.85% higher than what the city has on file. If you're making any financial decision based on your assessment alone, you're working with an outdated number.

For condos, the gap is even more dramatic. The average city assessment is $327,799. The average HonestDoor Price is $613,276 - that's 87.09% higher than the assessed value. The city's number and the real-world number are not even in the same conversation.

The HonestDoor Price pulls from actual market activity and updates regularly. It's the real-world check that your tax assessment simply cannot provide. Check yours at HonestDoor before you make any move.

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

If you own a house in Northfield and you're thinking about listing this summer, the timing is reasonable. You're in a neighbourhood that ranks 4 out of 19 in Nanaimo for growth. Homes are selling in 24 days on average. Buyers are close to full price. You're not leaving a lot on the table right now.

For condo owners, the honest answer is: move with more urgency. Values are sliding, the growth rank is last in Nanaimo, and the predicted value is trending down. Waiting for the market to turn around is a gamble. If selling is on your radar, sooner beats later.

Either way, the first step is the same. Pull your HonestDoor Price today. Not your assessment - your HonestDoor Price. It's the number that actually reflects what's happening on the street right now, not what a government office calculated last year. With 1,457 properties assessed in Northfield and 30 total transactions in 2026, the data is there. Use it.

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.