Carey, Saanich - October 2026 Real Estate Report
Carey, Saanich Real Talk: Your Home Is Worth More Than the City Thinks
If you own a home in Carey and you haven't checked your HonestDoor Price lately, you're probably leaving money on the table. The city's assessment says one thing. The real world says another. Here's what's actually going on in our neighbourhood right now.
The Vibe: Houses vs. Condos in Carey
We've got two pretty different stories playing out here depending on what you own.
Houses: The average sale price this month is sitting at $906,000, which is down 16.1% from last month. That sounds alarming, but context matters - we only had 2 sales this month, so one outlier can swing that number hard. What's more telling is that homes are selling in an average of 10 days and buyers are paying 100.18% of the asking price. People are still competing for houses in Carey. That's not a cold market. That's a market taking a breather on price while demand stays real.
- Average sale price: $906,000
- Average list price: $904,500
- Sale-to-list ratio: 100.18% - buyers paid over asking
- Average days on market: 10 days
- Price per square foot: $907
- Properties sold this month: 2
For comparison, houses in nearby North Quadra are selling at $810,000 and sitting for 13 days. We're moving faster and fetching more. That's a win for Carey homeowners.
Condos: This is where we need to be honest. One condo sold this month at $315,000, sitting on the market for 67 days before finding a buyer. It sold at 98.47% of list price, meaning the buyer had a bit of room to negotiate. The condo side of Carey is slow right now - the days-on-market rank is 10 out of 11 neighbourhoods in Saanich. If you own a condo here and you're thinking about selling, timing and pricing strategy matter more than ever.
- Average sale price: $315,000
- Average list price: $319,900
- Sale-to-list ratio: 98.47% - slight room for buyers to negotiate
- Average days on market: 67 days
- Price per square foot: $360
- Properties sold this month: 1
The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters
Here's the thing about your BC Assessment notice. It's a snapshot from July 1st of the previous year. By the time it lands in your mailbox, it's already old news. The market has moved. Your property value has shifted. But that government number is what most people anchor to - and that's a mistake.
The HonestDoor Price updates in real time using actual sales data. Right now, the average HonestDoor Price for a house in Carey is $1,088,697. The average city assessment is $1,045,776. That's a gap of over $42,000 - or 4.10% - that the assessment is simply missing. For a condo, the HonestDoor Price is $869,730, up 3.27% from the previous period.
Think about that. If you're negotiating a sale, refinancing, or just trying to understand what your biggest asset is worth, which number do you want - one from last July, or one from right now? The HonestDoor Price is your real-world check against a system that wasn't built for speed.
- House HonestDoor Price: $1,088,697 - 4.10% above city assessment
- House city assessment average: $1,045,776
- Condo HonestDoor Price: $869,730 - up 3.27% from last period
- House predicted market value: $1,089,458
- House rental yield: 4.54% per month at $4,461 estimated rent
- Condo rental yield: 3.55% per month at $3,380 estimated rent
- Total transactions in Carey in 2026: 48 houses, 5 condos
- Carey ranks 2nd in Saanich for total transaction volume - we are busy
The Neighbourhood Leaderboard
Where does Carey stack up against the rest of Saanich? Here's the honest scorecard for houses.
- Growth rate rank: 7 out of 17 - above average in Saanich
- Days-on-market rank: 4 out of 14 - properties move fast here
- Price rank: 15 out of 17 - one of the more affordable options in Saanich
- Transaction volume rank: 2nd in Saanich - high activity neighbourhood
Affordable relative to the rest of Saanich, faster-selling than most, and above average on growth. That's a solid position to be in. North Quadra next door has a higher average HonestDoor Price at $1,213,511, but we're closing the gap and moving homes quicker.
The So What: Should You Sell in Carey This Summer?
If you own a house in Carey, the case for selling this summer is real. Buyers are paying over asking. Homes are gone in 10 days on average. And your HonestDoor Price is running above what the city assessed you at. You have leverage right now - use it before the market shifts further.
The one thing to watch: the average sale price dipped this month. With only 2 sales in the data, that's a small sample. The predicted market value of $1,089,458 is actually trending up from the 3-month moving average of $1,086,123. The underlying direction is still positive for sellers.
If you own a condo, the summer picture is more cautious. One sale, 67 days on market, and a predicted value that's dipping slightly below its 3-month average. This isn't a panic situation, but it does mean you need to price sharp from day one. Sitting at the top of your range and waiting for offers is not the play right now.
Bottom line for Carey: check your HonestDoor Price before you do anything else. It's the most current read on what your home is actually worth - not what a government formula calculated over a year ago. That number is your starting point for every conversation this summer, whether you're selling, refinancing, or just keeping score.
carey | saanich | october 2026This 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.