Carey, Saanich - September 2026 Real Estate Report

Carey, Saanich: Your Neighbour Just Got a Surprise on Their Assessment - Here's Why

The Vibe Right Now

If you live on a quiet street in Carey and you've been half-watching the market, here's the honest read: houses and condos are telling two very different stories right now. Let's break it down so you know exactly where you stand.

Houses - Prices Are Up, But the Market Is Sorting Itself Out

The average sale price for a house in Carey hit $1,118,500 this month - that's up 14.6% from last month. Before you pop the champagne, know that only 4 homes sold, which is down 33.3% from the month before. Fewer sales with higher prices usually means the right homes are moving, but buyers have options. Properties are sitting for about 29 days on average, which is actually faster than nearby Tillicum at 39 days. That's a good sign for us as sellers.

The predicted market value for houses sits at $1,078,365 right now, and that number is drifting slightly below the 3-month moving average of $1,087,307. It's a small dip - not a crash, just the market taking a breather after a busy stretch. Homes are selling at 97.62% of list price, meaning buyers are negotiating a little, but not walking all over sellers.

• Average sale price: $1,118,500 (up 14.6% month over month)
• Active listings averaging: $1,144,225
• Price per square foot: $762
• Average days on market: 29
• Sale-to-list ratio: 97.62%
• Estimated monthly rent: $4,432
• Rental yield: 4.55%
• Growth rank in Saanich: 11 out of 17
• Days-on-market rank in Saanich: 6 out of 16 (moderately fast)
• Price rank in Saanich: 14 out of 17 (among the more affordable options)

Condos - Taking a Real Breather

The condo side of Carey is a different conversation. Only 1 condo sold last month at $315,000 - down 7.4% from the month before. With just one transaction, we have to be careful reading too much into a single sale, but the trend lines are pointing in the same direction: condos here are cooling. Properties are sitting for 67 days on average, compared to 39 days in Tillicum. That gap matters if you're thinking about listing.

The predicted market value for condos is $839,887, sliding below the 3-month moving average of $863,901. The recent value change of -2.84% puts Carey condos at rank 14 out of 17 in Saanich for growth. That's bottom-tier territory on the neighbourhood leaderboard. If you own a condo here and you've been thinking about selling, sooner is probably better than later.

• Average sale price: $315,000 (down 7.4% month over month)
• Active listings averaging: $319,900
• Price per square foot: $360
• Average days on market: 67
• Sale-to-list ratio: 98.47%
• Estimated monthly rent: $3,415
• Rental yield: 3.52%
• Growth rank in Saanich: 14 out of 17 (bottom performers)
• Days-on-market rank in Saanich: 8 out of 10 (slower to sell)
• Price rank in Saanich: 12 out of 12 (most affordable in Saanich)

The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here's something most Carey homeowners don't realize. The city's assessed value for a house here averages $1,045,776. That number comes from a snapshot in time - usually months old by the time it lands in your mailbox. The average HonestDoor Price right now is $1,089,727. That's a $43,951 difference, and it represents a 4.20% gap between what the government thinks your home is worth and what the real world is actually saying.

The HonestDoor Price updates in real time using current sales data. It's not a guess - it's a live read on the market. If you're making any financial decision based on your assessment alone, you're working with yesterday's numbers. The HonestDoor Price has also moved up 1.02% from the previous period, which means the gap between assessed and real value is only getting wider in your favour - at least for house owners.

For condos, the HonestDoor Price of $842,187 is still holding steady with a 0.27% increase, but the recent sales data tells a more cautious story. That's exactly why checking your HonestDoor Price regularly gives you a clearer picture than waiting for the annual assessment cycle.

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

If you own a house in Carey, you're in a decent spot. Prices are up, your home is selling faster than the neighbours in Tillicum, and your real-world value is running well ahead of what the city assessed. With 43 total transactions recorded in 2026 and Carey ranking 2nd in Saanich for transaction volume, there's genuine buyer activity here. That said, the predicted value is drifting slightly lower month over month, so listing sooner rather than sitting on it through fall makes sense.

If you own a condo in Carey, the math is more urgent. Values are down 2.84% recently, days on market are climbing, and you're sitting at the bottom of the Saanich price leaderboard. Waiting for the market to turn around is a gamble right now. If selling is on your radar at all, this summer is a better window than next spring.

Either way, the first move is simple - check your HonestDoor Price today. It's the real-world number, not the government's best guess from six months ago. Knowing the actual gap between your assessed value and your HonestDoor Price could change every conversation you have with an agent this season.

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.