Nanaimo, British Columbia
As of September 27, 2026, the median asking price in Old City, Nanaimo is $634,900, across 54 active MLS® listings.
Those listings have been on the market an average of 73 days.
11 new listings came to market in Old City in the last 30 days.
Asking prices work out to about $509 per square foot, based on the 42 listings that report floor area.
Condos in Old City are listed at an average of $512,889 across 28 active listings.
Detached homes in Old City are listed at an average of $726,625 across 12 active listings.
Homes in Old City are listed at an average of $3,120,557 across 8 active listings.
Old City is Nanaimo’s historic downtown and waterfront neighbourhood, centered around Commercial Street, the Harbourfront Walkway, and the Old City Quarter. It mixes heritage storefronts and converted commercial spaces with newer mid-rise condo and rental buildings, plus older character houses on nearby hillsides. The area draws a blend of renters, young professionals, students, service workers, and downsizers who want walkability and proximity to cafes, restaurants, arts venues, and the waterfront; it also has more visible social-service activity than many suburban parts of Nanaimo, which can influence tenant profile, insurance considerations, and property-level due diligence.
Amenities are a major strength: Hullo passenger ferry and Harbour Air seaplanes to Vancouver are nearby, along with downtown employment, the Port, marinas, and year-round events at Maffeo Sutton Park. Transit access is among the best in the city, with key bus exchanges and frequent routes connecting to Vancouver Island University (VIU) and North Nanaimo, supporting steady rental demand. Schools serving the broader downtown catchment include Georgia Avenue Elementary and Nanaimo District Secondary, and the quick link to VIU makes small multi-family and condo rentals popular. Real estate trends in Old City have been driven by downtown revitalization and continued infill (more strata/condo stock and purpose-built rentals), with prices generally below North Nanaimo on a per-square-foot basis but with higher vacancy sensitivity to building quality, management, and micro-location; yields tend to be better than newer suburban ownership product, while appreciation is typically moderate and more cyclical.
Old City in Nanaimo currently has 54 active for-sale listings with a median asking price of $634,900 and an average asking $509 per square foot. Homes have been listed for an average of 73 days so far, suggesting buyers may have time to compare options and negotiate, while 11 new listings in the past 30 days indicates fresh inventory is still coming to market for investors watching entry points and rental prospects.
AI-written commentary on the active MLS® listing snapshot as of September 27, 2026. Not financial advice.
Walk Score 96 · Transit Score 57 · Bike Score 51
Communities.ca Inc.
Stuart Hall, REALTOR® · Licence #LIC-00651009 · Century 21 Bravo
Data from MLS® System. Deemed reliable but not guaranteed accurate by CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
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