Colville Road, Esquimalt - October 2026 Real Estate Report
Colville Road, Esquimalt: Here Is What Your Home Is Actually Worth Right Now
If you live on Colville Road and you have not checked your HonestDoor Price lately, you are probably leaving money on the table - or at least making decisions based on a number that is already out of date. Here is the real picture.
The Vibe: What Is Happening on Our Street
The short version? Houses are holding strong and moving fast. Condos are a different story. Let us break it down.
Houses - Fast, Steady, and Punching Above Their Weight
If you have been watching the "For Sale" signs on Colville Road, here is what is actually happening. Houses are selling in an average of 14 days. That is not a slow market - that is buyers making decisions quickly. And on the neighbourhood leaderboard, we rank 1 out of 8 in Esquimalt for both growth rate and days on market. That means we are one of the fastest-moving, best-performing pockets in the entire area.
- Average sale price: $935,500
- Current average listing price: $947,500
- Price per square foot: $790
- Homes selling at 98.67% of list price - buyers are close to full ask
- Average days on market: 14
- Predicted market value: $921,069 - up from the 3-month average of $911,209
- Estimated monthly rent: $3,981
- Rental yield: 4.84%
- Growth rank: 1 out of 8 in Esquimalt
Prices rank 6 out of 8 in Esquimalt, which means we are not the priciest block in town - but we are gaining ground fast. Nearby Craigflower sits at a predicted value of $1,099,144 for houses, so there is still room to run.
Condos - Taking a Breather
The condo side of Colville Road is a bit of an outlier. The HonestDoor Price for condos sits at $5,728,345 - which reflects a very specific, high-value slice of the market here. Actual recent sales are averaging $525,500, with listings at $535,000 and a price per square foot of $592. Condos are sitting on the market for 34 days on average, which is slower than Craigflower at 31 days but faster than West Bay at 45 days.
- Average sale price: $525,500
- Current average listing price: $535,000
- Price per square foot: $592
- Properties selling at 98.22% of list price
- Average days on market: 34
- Predicted market value: $5,726,265 - slightly down from 3-month average of $5,727,088
- Estimated monthly rent: $13,343
- Rental yield: 1.08%
- Growth rank: 5 out of 8 in Esquimalt
- Airbnb rank: 1 in Esquimalt - top of the list for short-term rental potential
The condo market here is not in freefall - it is just slower. Values have dipped 0.66% recently, and the growth rank of 5 out of 8 puts us below average for the area. If you own a condo on Colville Road, now is the time to pay close attention to your numbers.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here is the thing about your city assessment. It is a snapshot from months ago, calculated using a formula that does not know your renovated kitchen or the fact that houses on our street are now selling in two weeks flat. The average assessed value on Colville Road sits at $885,720 for houses. The average HonestDoor Price is $906,870 - that is $21,150 higher, and it is updated in real time.
That 2.39% gap between the assessment and the HonestDoor Price is not just a number. It is the difference between underpricing your home and walking away with what it is actually worth. The HonestDoor Price is the real-world check - it reflects what buyers are actually paying right now, not what a government formula estimated last year.
With 330 properties assessed in the neighbourhood and only 3 transactions recorded in 2026 so far, the city does not have a lot of fresh data to work with. Your HonestDoor Price does.
The "So What?" - Thinking About Selling This Summer?
For house owners on Colville Road, the timing is genuinely good. Homes are moving in 14 days, buyers are paying 98.67% of list price, and our growth rank is sitting at number 1 in Esquimalt. That is a strong position to be in heading into summer. You are not going to get a bidding war frenzy, but you will get serious buyers who move fast.
A few things to keep in mind before you list:
- Check your HonestDoor Price first - do not rely on your tax assessment to set expectations
- Current listings are averaging $947,500, so the market is pricing above recent sales - leave room to negotiate but do not undersell
- Rental demand is real here - $3,981 per month estimated rent means buyers who cannot decide between buying and renting are being pushed toward buying
- Nearby Craigflower is priced higher, which gives Colville Road a relative value story to tell buyers
For condo owners, be patient and be precise. The market is slower, growth is below average for Esquimalt, and buyers have options. Price it right from day one - sitting on the market for 34 days is manageable, but overpricing will push you past that fast. The Airbnb potential here ranks number 1 in Esquimalt, so leaning into that angle with the right buyer could make a real difference.
Bottom line: Colville Road is a solid place to own right now. Houses are performing at the top of the local leaderboard, and the HonestDoor Price is giving owners a more accurate picture than anything the city is sending in the mail. Use it.
colville road | esquimalt | 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.