Estevan, Oak Bay - July 2026 Real Estate Report

Estevan, Oak Bay: Your Homes Are Worth More Than the City Thinks

If you have been watching property values in Estevan and wondering whether the numbers on your tax notice actually mean anything - they don't tell the whole story. The average assessed value here sits at $1,818,954, but the average HonestDoor Price is $1,967,797. That's a gap of over $148,000. Real money. And it's moving in the right direction.

The Vibe - Houses vs. Condos

Let's break down what's actually happening on the ground for us here in Estevan.

Houses: Fast, Competitive, and Sellers Are Winning

Houses in Estevan are not sitting around. The one sale we saw recently closed in just 6 days on market - that's the fastest in Oak Bay, ranking 1 out of 5 neighbourhoods for speed. Buyers aren't lowballing either. Properties are selling at 102.10% of list price, meaning buyers are going over asking. That's a sellers' market, plain and simple.

• Average sale price: $1,557,000
• Average list price this month: $1,525,000
• Price per square foot: $1,497
• Average days on market: 6
• Sale-to-list ratio: 102.10% - buyers are paying above ask
• HonestDoor predicted value: $1,975,031
• 3-month moving average: $1,937,168 - values are climbing
• Estimated monthly rent: $6,743
• Rental yield: 3.74%
• Recent value change: 3.17%
• Growth rank in Oak Bay: 1 out of 6 - top of the leaderboard

That growth rank is worth pausing on. Out of 6 comparable Oak Bay neighbourhoods, Estevan houses are growing the fastest. North Oak Bay is cheaper and growing slower. Uplands is priced far higher at an average HonestDoor Price of $4,281,600, but we hold our own on momentum.

Condos: Strong Prices, Steady Pace

The condo picture in Estevan is a different animal. The HonestDoor Price for condos here averages $3,505,295 - up 3.07% recently - and that puts us in a very specific tier. Recent sales averaged $790,000, with buyers landing just under list at 98.87%. That slight softness means condo buyers have a small edge right now, but don't mistake that for weakness. These units are still moving in 11 days on average.

• Average condo sale price: $790,000
• Average list price this month: $799,000
• Price per square foot: $635
• Average days on market: 11
• Sale-to-list ratio: 98.87% - slight room to negotiate
• HonestDoor predicted value: $3,400,861
• 3-month moving average: $3,303,562 - trending up
• Estimated monthly rent: $9,985
• Rental yield: 1.61%
• Airbnb estimate: $504 per night - ranked 1 in Oak Bay for Airbnb potential
• Recent value change: 4.93%
• Growth rank in Oak Bay: 4 out of 6

That Airbnb rank of 1 in all of Oak Bay is a real standout. If you own a condo here and haven't looked at short-term rental income, the numbers suggest you should.

The Secret Sauce - Why Your HonestDoor Price Matters Right Now

Here's the thing about your city assessment: it's a snapshot from the past. It doesn't update when the market moves. The average assessed value in Estevan is $1,818,954, but the HonestDoor Price is already at $1,967,797 - that's 8.18% higher. The city will catch up eventually, but by then the market will have moved again.

The HonestDoor Price pulls from real-time sales data, recent transactions, and current market signals. It's the number that reflects what a buyer would actually put on paper today - not what a government office calculated months ago. With 659 properties assessed in the neighbourhood and values moving up 3.17%, the gap between what the city says your home is worth and what it's actually worth is real and it's significant.

Check your HonestDoor Price now. Don't wait for the next assessment cycle to find out you've been sitting on more equity than you thought.

The So What - Thinking About Selling This Summer?

If you own a house in Estevan and you're thinking about listing this summer, the conditions are about as good as they get. Homes are selling in under a week. Buyers are paying over list. Growth is ranked first in Oak Bay. The window is open.

For condo owners, the story is still solid. Values are climbing, the 3-month trend is up, and Airbnb potential is the best in Oak Bay. The slight buyer advantage on price means you want to list sharp - price it right and it moves. Price it high and you'll feel those 11 days stretch out.

Either way, the move right now is to get your HonestDoor Price, compare it to your assessment, and understand the real gap before you make any decisions. In Estevan, that gap is working in your favour. Use it.

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.