Nanaimo, British Columbia, Canada
As of August 12, 2026, the median asking price in Old City, Nanaimo is $599,900, across 87 active MLS® listings.
Those listings have been on the market an average of 91 days.
25 new listings came to market in Old City in the last 30 days.
Asking prices work out to about $500 per square foot, based on the 50 listings that report floor area.
Condos in Old City are listed at an average of $524,555 across 29 active listings.
Detached homes in Old City are listed at an average of $687,924 across 17 active listings.
Vacant land in Old City are listed at an average of $623,475 across 8 active listings.
Homes in Old City are listed at an average of $3,647,333 across 7 active listings.
Old City is Nanaimo’s historic downtown and waterfront-adjacent neighbourhood, centered on Commercial Street, the Harbourfront, and the Old City Quarter’s mix of heritage storefronts, restaurants, pubs, galleries, and service businesses. Housing is a blend of older character homes on the hill above downtown, small-lot infill, secondary suites, and a concentration of condos and apartments near the core. Demographics skew to a mix of young renters, service and office workers, students commuting to VIU, and downsizers who value walkability; the area also has more visible social challenges than many suburban parts of Nanaimo, which can affect tenant screening and property management needs.
Amenities are a key strength: the seawall and waterfront parks, Port of Nanaimo/Floating Harbour access, events and nightlife, and easy access to shopping and daily services in the downtown grid. Transit is strong for Nanaimo, with frequent bus connections through downtown and quick links to VIU and North Nanaimo; Hullo and BC Ferries terminals (Departure Bay is a short drive) support regional connectivity. Nearby schools serving the broader downtown catchment include elementary options such as Southside and Georgia Avenue (vary by exact address) and secondary options like Nanaimo District Secondary; proximity to VIU supports steady rental demand. Real estate trends typically show higher turnover and rental liquidity than peripheral neighbourhoods, with condo pricing more sensitive to interest-rate cycles; over the last several years the area has generally benefited from island-wide demand and limited supply, while cap rates remain compressed by rising prices and operating costs.
Old City in Nanaimo currently has 138 active for-sale listings with a median asking price of $550,000 and an average of $490 per square foot, giving buyers a solid range of options but at pricing that still reflects ongoing demand. Homes are averaging 108 days on market, and with 40 new listings in the past 30 days, inventory is being replenished quickly—suggesting improved negotiating leverage for buyers and a market that rewards investors who price and underwrite deals with longer holding times in mind.
The median asking price in Old City, Nanaimo is $599,900, across 87 active MLS® listings as of August 12, 2026. The average asking price is $988,170. These are list prices on homes currently for sale, not sale prices.
There are 87 active MLS® listings in Old City, Nanaimo as of August 12, 2026. 25 of them came to market in the last 30 days.
Homes currently listed in Old City, Nanaimo have been on the market an average of 91 days as of August 12, 2026. This measures how long active listings have been available so far, not how long they take to sell.
Of the 87 homes currently listed in Old City, Nanaimo, 33% condos, 20% detached houses, 9% vacant land, 7% commercial properties.