Carey, Saanich - July 2026 Real Estate Report

Carey, Saanich Real Estate: What Your Neighbours Aren't Telling You

If you own a home in Carey and you haven't checked your HonestDoor Price lately, you're probably leaving money on the table - or at least walking around with the wrong number in your head. Here's the straight story on what's actually happening in our corner of Saanich right now.

The Vibe: Houses vs. Condos in Carey

Houses - Active But Taking a Breather

We saw 2 house sales this month, with an average sale price of $862,450. That's down 24.1% from last month, which sounds alarming - but context matters. Current listings are averaging $889,450, and homes are selling at about 96.56% of list price. Buyers are negotiating, and sellers are meeting them partway. That's not a crash; that's a market finding its footing.

• Average sale price: $862,450
• Average list price: $889,450
• Price per square foot: $828
• Average days on market: 24 days
• Sale-to-list ratio: 96.56%

One thing worth noting - our houses are sitting on the market longer than nearby Tillicum (14 days) and North Quadra (13 days). That gap tells us buyers in Carey have a bit more breathing room to negotiate right now. If you're selling, pricing sharp from day one matters more than ever.

On the growth leaderboard, Carey houses rank 4 out of 17 neighbourhoods in Saanich. That puts us solidly in the above-average tier. We're not leading the pack, but we're well ahead of the middle of the field.

Condos - Quiet and Affordable, But Watch the Trend

The condo side of Carey is a different story. Only 1 condo sold this month at $340,000, with listings averaging $360,000. Buyers paid 94.44% of list price, and units are sitting for an average of 67 days. That's a slow burn.

• Average sale price: $340,000
• Average list price: $360,000
• Price per square foot: $411
• Average days on market: 67 days
• Sale-to-list ratio: 94.44%

On the neighbourhood leaderboard, Carey condos rank 14 out of 17 in growth and sit at the most affordable end of the Saanich condo market - 12 out of 12 on price rank. If you're a buyer, that's actually interesting. If you're a condo owner thinking about selling, patience and smart pricing are your best tools right now.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Here's the thing about your city assessment - it's a snapshot from the past. The government looks at sale data from months ago, runs it through a formula, and hands you a number that may have nothing to do with what your home is worth today.

For houses in Carey, the average assessed value sits at $1,045,776. The average HonestDoor Price is $1,090,957. That's a gap of 4.32% - real money we're talking about. The HonestDoor Price updates in real time, pulling from current market activity, not last year's numbers.

• Average assessed value (houses): $1,045,776
• Average HonestDoor Price (houses): $1,090,957
• Difference: 4.32% higher than the assessment
• Average HonestDoor Price (condos): $864,404
• Predicted market value (houses): $1,093,008
• Predicted market value (condos): $887,410

The HonestDoor Price for houses has dipped 0.23% from the previous period - a small move, not a red flag. The condo HonestDoor Price is down 2.59%, which is worth watching. Neither of these shifts would show up on your tax assessment for months. That's exactly why checking your HonestDoor Price now gives you a real-world read on where you stand - not where you stood a year ago.

Carey also ranks 2nd in Saanich for total property transactions. That means we have real, recent sale data backing these numbers up. This isn't guesswork.

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

If you're a homeowner in Carey weighing a summer sale, here's the honest breakdown.

For house sellers, the predicted market value of $1,093,008 is trending up from the 3-month moving average of $1,073,356. That's momentum in your favour. Rental demand is strong too - estimated rent of $4,472 per month and a rental yield of 4.53% means investors are paying attention to Carey. That's a buyer pool working in your favour.

The catch is that homes are taking about 24 days to sell, longer than our neighbours in Tillicum and North Quadra. Buyers know they have options. Price it right from the start, and you'll move it. Price it with wishful thinking, and you'll be doing a price reduction in week three.

For condo sellers, the market is softer. A 67-day average on market and a growth rank of 14 out of 17 means you need to be realistic. The good news is that Carey condos are among the most affordable in Saanich, which is a genuine selling point for first-time buyers who are priced out of other neighbourhoods.

Bottom line - check your HonestDoor Price before you call an agent, before you set a list price, and before you assume your tax assessment tells the full story. In Carey right now, the gap between those two numbers could be the difference between a smart sale and a missed opportunity.

Quick Snapshot - Carey, Saanich

• Total properties assessed: 4,215
• Total transactions in 2026: 22
• Transaction rank in Saanich: 2nd
• House growth rank in Saanich: 4 out of 17
• Average rental estimate (houses): $4,468 per month
• Average Airbnb estimate (houses): $222 per night
• Airbnb rank in Saanich: 10th

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.