Esquimalt Village, Esquimalt - August 2026 Real Estate Report

Esquimalt Village Real Estate: What's Actually Happening Right Now

If you own a home in Esquimalt Village and you're still looking at your BC Assessment notice to figure out what your place is worth, you're working with old information. Here's the straight story on what the market is doing in our neighbourhood right now.

The Vibe: Houses vs. Condos - Two Very Different Stories

We're seeing a split market in Esquimalt Village right now, and it matters which side of that split you're on.

Houses: Steady and Holding

The house market here is doing something rare - it's actually balanced. One house sold last month at exactly list price. No bidding war, no discount. Just a clean deal at $799,999. Properties are moving in about 13 days, which is quick. That's a healthy sign for sellers.

• Average sale price: $799,999
• Price per square foot: $609
• Sold at 100% of list price
• Average days on market: 13
• Predicted market value: $1,113,812
• Estimated monthly rent: $4,488
• Rental yield: 4.57%

On the neighbourhood leaderboard, our houses rank 2 out of 8 for growth in Esquimalt. That puts us in above-average territory. For price, we rank 7 out of 8 - meaning we're among the more affordable options in the municipality, which is actually a draw for buyers coming from pricier pockets like Saxe Point.

One thing to watch: the predicted value of $1,113,812 is running slightly below the 3-month moving average of $1,125,860. The market is taking a breather. Not falling off a cliff - just cooling slightly after a run.

Condos: Taking a Real Breather

We'll be straight with you - the condo side is softer right now. One condo sold last month at $395,000, which is down 23.6% from the month before. Buyers paid 98.77% of list price, so sellers are giving a little ground. Properties are sitting for an average of 63 days, which is slow by any measure.

• Average sale price: $395,000 (down 23.6% from last month)
• Price per square foot: $541
• Sold at 98.77% of list price
• Average days on market: 63
• Predicted market value: $2,116,383
• Estimated monthly rent: $6,325
• Rental yield: 2.75%
• Airbnb potential: $317 per night

On the leaderboard, condos rank 8 out of 8 for growth in Esquimalt right now. That's the bottom spot. Days on market rank is 6 out of 7. If you're a condo owner thinking about selling, timing and pricing are going to matter a lot more than they did a year ago.

The one bright spot for condo owners: that Airbnb rank of 2 out of the whole municipality. At $317 per night, there's real short-term rental income potential here if you're holding and not selling.

The Secret Sauce: Your HonestDoor Price vs. Your Assessment

Here's why this matters for your wallet right now. The city's average assessed value for houses in Esquimalt Village sits at $1,070,362. The average HonestDoor Price is $1,114,705. That's a gap of 4.14% - and that gap is real money.

For condos, the gap is even more striking. The average assessed value is $559,233. The average HonestDoor Price is $2,168,181 - that's 287.71% higher than the assessment. Your BC Assessment is a snapshot taken months ago using broad formulas. The HonestDoor Price pulls in current sales data, neighbourhood trends, and real-time signals to give you a live read on what your property is actually worth today.

The HonestDoor Price for houses has nudged up 0.08% from the previous period. Condos are up 2.45%. If you're making any financial decision based on your assessment alone - refinancing, selling, even just understanding your net worth - you're leaving information on the table.

With 553 houses and 279 condos assessed in the neighbourhood, there's a solid data foundation here. This isn't guesswork.

The 'So What?': Thinking About Selling This Summer?

If you own a house in Esquimalt Village, this summer is a reasonable window. Buyers are active, deals are closing at full price, and 13 days on market means you're not going to be sitting around waiting. You're also priced more affordably than Saxe Point ($1,231,723 predicted value) and Rockheights ($1,139,199), which means buyers priced out of those neighbourhoods are looking at us. That's a real advantage.

If you own a condo, be honest with yourself about the conditions. Sixty-three days on market and a price that came in below last month means buyers have options and they know it. That doesn't mean don't sell - it means price it right from day one. An overpriced condo in this market will sit, and a listing that sits loses momentum fast.

For both property types, check your HonestDoor Price before you do anything else. The gap between what the city thinks your home is worth and what the market will actually pay is significant in Esquimalt Village right now. That number is your starting point for any real conversation about selling.

We have 5 property transactions recorded in 2026 for both houses and condos. That's a tight market with real movement. The neighbours who sell well this summer will be the ones who went in with accurate, current data - not a tax notice from last year.

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.