Craigflower, Esquimalt - August 2026 Real Estate Report

Craigflower, Esquimalt: Your Neighbour Isn't Telling You This About Their Home Value

If you own a home in Craigflower 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 real picture right now.

The Vibe: What's Actually Happening on Our Streets

Houses

Our houses are moving fast. One sale last month, 9 days on market, and it sold at exactly list price. That's not luck - that's a balanced market where sellers and buyers are meeting in the middle. The average sale price hit $1,189,000, and buyers aren't negotiating hard. When homes are gone in under two weeks at full ask, that tells us demand is still real.

That said, the predicted market value is sitting at $1,020,861, which is down slightly from the 3-month moving average of $1,038,680. Values have dipped 3.32% recently, placing us 6th out of 8 neighbourhoods in Esquimalt for growth. We're not in freefall - we're taking a breather. The good news? Days-on-market ranks 1st out of 7 in Esquimalt. Our houses sell faster than almost anywhere else in the municipality. That's a real edge.

• Average sale price: $1,189,000
• Price per square foot: $629
• Average days on market: 9
• Sold at 100% of list price
• Estimated rent: $4,258 per month
• Rental yield: 4.68%
• Growth rank: 6 out of 8 in Esquimalt
• Days-on-market rank: 1 out of 7 in Esquimalt - fastest sellers
• Price rank: 3 out of 8 in Esquimalt - above average

Condos

The condo picture is a bit more nuanced. Two sales last month, averaging $607,500, and buyers are getting a small discount - properties are selling at 97.72% of list price. At 45 days on market, condos are sitting longer than nearby Colville Road (34 days). That's the market telling us buyers have options and they know it.

Here's the flip side though: the predicted market value for condos is $1,112,178, and it's actually trending up from the 3-month moving average of $1,101,695. Values are up 0.79% recently, ranking 4th out of 8 in Esquimalt for growth - above average. So while individual sales are closing below ask, the underlying value trend is pointing in the right direction.

• Average sale price: $607,500
• Average list price: $623,250
• Price per square foot: $536
• Average days on market: 45
• Sold at 97.72% of list price
• Estimated rent: $3,915 per month
• Rental yield: 3.47%
• Growth rank: 4 out of 8 in Esquimalt - above average
• Days-on-market rank: 4 out of 7 in Esquimalt
• Price rank: 2 out of 7 in Esquimalt - well above average

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

Here's something worth knowing. The city's assessed value for houses in Craigflower averages $982,737. Your HonestDoor Price? $1,048,105. That's a gap of 6.65% - and it's not a rounding error. That's real money the static government assessment isn't capturing.

For condos, the gap is even more striking. The average assessed value sits at $565,316, while the average HonestDoor Price is $1,096,057 - that's 93.88% higher than what the assessment says. Government assessments are snapshots frozen in time. The HonestDoor Price updates to reflect what's actually happening in the market right now. If you're making any financial decision - refinancing, selling, or just figuring out your net worth - the HonestDoor Price is your real-world check against a number that's already out of date the moment it's printed.

• House assessed value: $982,737 vs. HonestDoor Price: $1,048,105 (6.65% higher)
• Condo assessed value: $565,316 vs. HonestDoor Price: $1,096,057 (93.88% higher)
• House HonestDoor Price is up 2.75% from the previous period
• 424 house properties and 298 condo properties assessed this year

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

If you own a house in Craigflower and you're thinking about listing this summer, the timing argument is pretty simple. Homes here are selling in 9 days at full list price. Buyers are not dragging their feet. You don't need a bidding war to get a clean, fast sale - and right now, that's exactly what this market is delivering.

The one thing to watch: that 3.32% dip in predicted values. It's not dramatic, but it does suggest that waiting another six months to see if prices climb back up is a bit of a gamble. Selling into a fast market beats selling into a slow one every time.

If you own a condo, the story is a little different. Buyers are negotiating, and 45 days on market means you need to price sharp from day one. The predicted value trend is moving up, which is encouraging - but the current sales data says buyers know they have leverage. Work with that reality, not against it. Price it right on day one and you'll move it. Price it optimistically and you'll be doing a price reduction in week three.

Either way, the first step is the same: check your HonestDoor Price today. Not your assessment notice from last year. Your actual number, right now. That's where the conversation starts.

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.