November 2025 Market Update

The Nanaimo real estate market in November 2025 was generally stable and balanced for single-family homes, with an average sale price of approximately $873,000 and a benchmark price of $801,900. The market showed two distinct speeds: competitive for properties under $1 million, and slower for those above $1.25 million.  

Nanaimo Single-Family Home Statistics:

The single-family detached home segment saw steady activity with an increase in sales volume year-over-year*.  

• Average Sale Price: $873,000 (+1.7% YoY) 

• Median Sale Price: $810,000 (flat YoY) 

• Benchmark Price (MLS HPI): $801,900 (down slightly YoY) 

• Total Sales: Single Family 73 completed sales (up 7% YoY) 

• New Listings: 95 new listings 

• Active Listings: 1,121 (stable YoY) 

• Days on Market (DOM): 55 days (up from 50 days a year prior) 

• Sell-to-List Ratio: 77% ( New Listings divided by Sales) 

*Based on VIREB stats from November 2025 

Market Trends and Analysis: 

• Pricing Strategy: The market showed strong price discipline from buyers. Homes priced near their BC Assessment value, or up to 10% above, had the highest success rate and sold quickly. Overpriced properties (20-30% above assessment) experienced longer days on the market and often required price reductions. 

• Property Types: Demand was highest for practical 3-4 bedroom layouts, particularly main-level entry homes with either a lower or upper level. 

• Condos & Townhomes: These segments showed more sensitivity to market conditions. 

• Condos: Sales were down about 43% year-over-year, and average prices saw a decline of 10–11%. 

• Townhomes: Experienced a slight dip in sales, but average prices were up approximately 11%, though days on market extended from 40 to 67 days. 

• Regional Context: The Vancouver Island Real Estate Board (VIREB) area as a whole recorded 513 unit sales across all property types in November 2025, down eight per cent from the previous year. Nanaimo's market was considered more resilient than the Vancouver and Lower Mainland markets. 

• Buyer Behavior: Buyers remained active but disciplined, carefully monitoring the spread between assessed values and list prices. The market under $1 million was described as mostly a seller's game, while buyers had the edge in the over $1.25 million range.  

Takeaways for Nanaimo: 

• Prices remain stable to slightly up — average sale price rising, median flat. 

• The selling pace for well-priced, properly marketed detached homes remains relatively healthy. 

• Inventory remains available, though not excessive. 

Overview Gabriola Real Estate Market: 

In November 2025, Gabriola Island's real estate showed a highly volatile market with a median sale price around $593,250 but only 4 sales, indicating fewer transactions but high price swings (up from October but down year-over-year). The market featured very few detached homes (50% sold) and lots, with low inventory suggesting potential seller interest but low volume. Overall, it was a quiet month for sales, with significant price shifts influencing the small data set.  

Key Metrics for Gabriola Island:

• Median Sale Price: $593,250 (Significant Month-over-Month jump, Year-over-Year decrease). 

• Sales Volume: Very low, with only 4 total sales (50% detached homes, 50% other/lots). 

• Average Days on Market: Not explicitly stated for Nov 2025 on Gabriola, but nearby areas showed moderate days. 

• Market Type: With few sales and varied prices, it leans towards a highly fluctuating or potentially unbalanced market, though data is sparse.  

Context & Trends:

• Low Activity: Similar to broader BC trends, Gabriola saw few sales, making month-to-month stats volatile. 

• Price Volatility: The median price jumped dramatically due to the small number of sales, with detached homes and lots being the main types traded. 

• Shift in Mix: A move towards lower-priced homes (or lots) compared to October might skew median prices, notes Zolo.  

In Summary: November 2025 on Gabriola Island was characterized by very low transaction volume, making price data seem erratic but hinting at a market where available properties (especially lots) saw huge price swings, while overall activity remained subdued.  

Canadian Mortgage Market – 12-Month Summary:

Over the past year, the Canadian mortgage market has shifted from a period of very high interest rates to one of gradual easing. 

Bank of Canada:

• In late 2024, the Bank of Canada began lowering its overnight rate after holding it at restrictive levels through 2023 and most of 2024. 

• Cuts in the fall of 2024 were followed by several more during 2025 as inflation slowed and economic growth cooled. 

• By late 2025, the overnight rate had moved down to 2.25%, and the Bank chose to pause further reductions at its December setting on Dec 10. 

• The pace of cuts has eased pressure on borrowing costs, but the Bank has signaled that it intends to keep rates stable for a period to ensure inflation continues to trend toward its target. 

Variable and Adjustable Rate Mortgage Rates:

• Because they are tied to lenders’ prime rates, variable mortgage rates moved lower throughout the year as the overnight rate fell. 

• While monthly payments have improved for Adjustable Rate Mortgage (ARM) borrowers, many are still paying more than they were before the rate-hike cycle that began in 2022. 

• Variable Rate Mortgage borrowers have seen their interest rate decline while their actual payment has stayed fixed.  

Fixed Mortgage Rates:

• Fixed rates do not move directly with Bank of Canada decisions, but they are influenced by bond yields and market expectations for inflation. 

• As expectations for slower inflation settled in, fixed mortgage rates generally drifted downward through 2025. 

• Many lenders are now offering noticeably lower fixed rates than they were a year earlier, though still above the ultra-low levels seen during the pandemic. 

Impact on Homeowners and Renewals:

• A large number of Canadian households are renewing mortgages in 2025 and 2026. 

• Even with falling rates, many borrowers renewing 5-year terms from 2020–2021 are still facing higher payments, simply because their original rates were unusually low. 

• For borrowers who originated mortgages during the peak rate period in 2023–2024, renewals are generally more favourable. 

Overall Market Tone:

• The past year has marked a shift from tight financial conditions toward a more balanced interest-rate environment. 

• Lower rates have helped improve affordability, but the adjustment is gradual, and households are still navigating the lingering effects of several years of elevated borrowing costs. 

• For now, the expectation is that the Bank of Canada will keep rates relatively stable into 2026 unless economic conditions change significantly. 

Uninsured Mortgage Rate Comparison: November 2024 vs November 2025 

Term	November 2024	November  2025	Difference
1-Year Fixed	5.59%	4.89%	-0.70%
2-Year Fixed	5.44%	4.44%	-1%
3-Year Fixed	4.24%	3.79%	-0.45%
4-Year Fixed	4.30%	3.99%	-0.31%
5-Year Fixed	4.29%	3.94%	-0.35%
5-Year Variable	5.00%	3.65%	-1.35%

*The table is put together based on information from WOWA