Colville Road, Esquimalt - September 2026 Real Estate Report

Colville Road, Esquimalt: Your Home Is Worth More Than the City Thinks

The Vibe Right Now

If you've been watching the "For Sale" signs on Colville Road lately, here's what's actually happening. The market is steady - not on fire, not falling apart. Houses are moving in about two weeks, condos in just over a month, and buyers are paying close to asking price in both cases. That's a calm, functional market. Not a frenzy, but not a fire sale either.

We've had 3 property transactions recorded in 2026 across the neighbourhood, with 330 properties assessed this year. Activity is modest, which means when a good home hits the market here, it gets attention.

Houses: Solid and Steady

For houses on Colville Road, the numbers tell a pretty consistent story.

• Average sale price: $935,500
• Current average list price: $947,500
• Price per square foot: $790
• Homes are selling at 98.67% of list price - buyers are getting a small discount, but sellers aren't giving much away
• Average days on market: 14 days
• Predicted market value: $910,472
• 3-month moving average: $918,011 - values are easing slightly
• Estimated rent: $3,955 per month
• Rental yield: 4.85%
• Recent value change: 0.93%

Fourteen days on market is genuinely fast. That tells us buyers are watching this street. The sale-to-list ratio of 98.67% means we're in a stable buyers' market - not a war, but sellers are still holding most of their ground. On the neighbourhood leaderboard, Colville Road houses rank 6 out of 8 for growth and 2 out of 8 for days on market - meaning homes here sell faster than most of Esquimalt, even if price growth isn't leading the pack right now.

One thing worth noting: the predicted market value of $910,472 is sitting just below the 3-month moving average of $918,011. That's a small dip, not a cliff. Think of it as the market taking a breather after a long run.

Condos: A Different Animal

The condo picture on Colville Road is a bit unusual, so let's be straight about it.

• Average HonestDoor Price: $5,726,265 - down 0.66% from last period
• Average sale price: $525,500
• Current average list price: $535,000
• Price per square foot: $592
• Properties selling at 98.22% of list price
• Average days on market: 34 days
• Predicted market value: $5,764,230 - up from the 3-month moving average of $5,668,681
• Estimated rent: $13,383 per month
• Airbnb potential: $663 per night - ranked 1st in Esquimalt for Airbnb
• Recent value change: 1.29%

That HonestDoor Price figure for condos is driven by specific property characteristics in the data set - it's a signal worth digging into on your individual property page rather than applying it as a blanket number. What we can say clearly: condos here are selling faster than nearby West Bay (34 days vs. 45 days), and this street holds the top Airbnb rank in all of Esquimalt. If you own a condo here and haven't thought about short-term rental income, that's a conversation worth having.

On the leaderboard, condo growth ranks 6 out of 8 - below average for Esquimalt - but days on market rank 3 out of 7, meaning condos here move reasonably quickly compared to the competition.

The Secret Sauce: Your HonestDoor Price vs. Your Tax Assessment

Here's the thing most Colville Road homeowners don't realize. The city's assessed value for houses here averages $885,720. The average HonestDoor Price is $921,069. That's a gap of nearly $35,000 - and the HonestDoor Price is 3.99% higher than what the city has on file.

Why does that matter? Your BC Assessment number is a snapshot from July 1st of the previous year. It doesn't know what sold last month. It doesn't know that homes here are moving in 14 days. The HonestDoor Price updates in real time, pulling from actual recent sales and current market signals. It's the difference between a photo from last year and a live video feed.

If you're making any financial decision - refinancing, selling, even just understanding your net worth - the HonestDoor Price is the number that reflects what your home is actually worth today, not what a government spreadsheet thought it was worth 12 months ago.

So What Does This Mean If You're Thinking About Selling This Summer?

Straight talk: this is a reasonable time to sell, not a spectacular one. Here's how to think about it.

• Homes are moving fast - 14 days average means serious buyers are out there
• You'll likely land within 1-2% of your asking price if you price it right
• Nearby neighbourhoods like Craigflower and West Bay are priced higher, which means Colville Road looks like relative value to buyers shopping the area
• The market isn't surging, but it isn't slipping either - growth is flat year over year
• Listing prices are averaging $947,500 right now, which gives you a real benchmark

The window this summer is solid but not unlimited. Buyers are active, days on market are low, and your HonestDoor Price is running ahead of your assessment. If you've been sitting on the fence, the data says the fence isn't getting any more comfortable. Check your HonestDoor Price first - it's the most honest starting point you've got before you call an agent or set a list price.

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.