Carey, Saanich - August 2026 Real Estate Report

Carey, Saanich Real Estate: What Your Neighbours Are Not Telling You

If you own a home in Carey and you have not checked your HonestDoor Price lately, you are probably leaving money on the table - or at least walking around with the wrong number in your head. Here is what is actually happening on our streets right now.

The Vibe: Houses vs. Condos in Carey

We are seeing two very different stories play out in Carey depending on what you own.

Houses are holding up well. The average sale price hit $1,040,000 this month, up 6.5% from last month. That is a real jump. Listings are sitting at $1,049,950 on average, and homes are selling at 99% of list price - so buyers are not getting big discounts, but they are not overpaying either. The catch? Homes are sitting on the market for about 26 days, which is longer than nearby North Quadra at 13 days. The market is not stalling, but it is taking a breather compared to some of our neighbours.

• Average sale price: $1,040,000 (up 6.5% from last month)
• Average list price: $1,049,950
• Price per square foot: $690
• Sale-to-list ratio: 99%
• Average days on market: 26
• Properties sold this month: 2
• Predicted market value: $1,090,546
• Estimated rent: $4,466/month
• Rental yield: 4.53%

Condos are a different picture. Only 1 condo sold this month at $340,000, and units are sitting for an average of 67 days - noticeably longer than Tillicum condos at 40 days. Buyers paid just 94.44% of list price, which tells us sellers are negotiating. Condo values have dipped 2.59% recently, and the predicted market value of $864,404 is actually trending down from the 3-month average of $887,732. If you own a condo in Carey, this is a market that rewards patience and realistic pricing.

• Average sale price: $340,000
• Average list price: $360,000
• Price per square foot: $411
• Sale-to-list ratio: 94.44%
• Average days on market: 67
• Predicted market value: $864,404
• Estimated rent: $3,460/month
• Rental yield: 3.52%

The Neighbourhood Leaderboard

Here is where Carey stands among the 17 neighbourhoods tracked in Saanich. For houses, we rank 6 out of 17 for growth - that puts us in the top third. Days on market ranks 7 out of 16, which is solidly middle of the pack. On price, we sit at 12 out of 17, meaning Carey is more affordable than most of Saanich for houses. That is actually a good thing if you are buying in. For condos, growth ranks 8 out of 17 - above average - but price ranks dead last at 12 out of 12, making Carey condos the most affordable in Saanich. Depending on your goals, that is either a bargain or a signal to watch closely.

One more number worth knowing: Carey ranked 2nd in all of Saanich for total property transactions in 2026 with 35 house sales. We are one of the busiest neighbourhoods around. That kind of activity matters when you are trying to sell.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Your city assessment is a snapshot from last year. It does not know what sold on your street last month. The average assessed value for a Carey house is $1,045,776. The average HonestDoor Price is $1,078,709. That is a $32,933 gap - and the HonestDoor Price is updated in real time using actual market activity.

Think of the city assessment as a photo from last January. The HonestDoor Price is the live feed. Right now, the HonestDoor Price sits 3.15% above the average assessed value in Saanich. If you are making any decision - refinancing, listing, or just figuring out your net worth - you want the current number, not the stale one.

For condos, the HonestDoor Price is $839,887, down 2.84% from the previous period. That kind of shift does not show up in your tax notice until it is old news. Knowing it now gives you a head start.

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

For house owners, the timing is reasonable. Prices are up month over month, activity in Carey is among the highest in Saanich, and your HonestDoor Price likely reflects more value than your last assessment suggested. The 26-day average on market means you should not expect a bidding war overnight, but a well-priced home is moving. Price it right and you will find a buyer.

For condo owners, be honest with yourself about the numbers. Values have slipped recently, days on market are climbing, and buyers are negotiating harder. That does not mean do not sell - it means price it based on today's HonestDoor Price, not what you hoped it would be worth. A condo sitting at $360,000 list and selling at $340,000 is telling you something. Listen to it.

Either way, your first move is simple: check your HonestDoor Price at HonestDoor.com before you call an agent, set a list price, or sign anything. It is free, it is current, and it is the real-world number that actually reflects what Carey buyers are paying right now.

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.