Estevan, Oak Bay - October 2026 Real Estate Report
Estevan, Oak Bay: Your Home Is Worth More Than the City Thinks
If you have been watching property values in Estevan and wondering whether now is the time to make a move, here is the straight answer: your home is likely worth more than your tax assessment says, the market is steady, and buyers are still showing up. Let us break it down.
The Vibe: What Is Actually Happening in Estevan Right Now
Estevan is one of Oak Bay's quieter achievers. We are not seeing the frenzied bidding wars of a few years ago, but we are not in freefall either. This market is taking a breather - and for homeowners, that is not a bad place to be.
Houses: Solid Ground, Fast Sales
Houses here are moving. Two sales last month, with homes sitting on the market for an average of just 10 days. That is quick. Buyers are paying 99.75% of list price, which means if you price it right, you are getting almost exactly what you ask for.
- Average sale price: $1,595,500
- Average list price this month: $1,599,450
- Price per square foot: $1,189
- Days on market: 10
- Sale-to-list ratio: 99.75%
- Predicted market value: $1,939,474
- Estimated monthly rent: $6,651
- Rental yield: 3.77%
- Growth rank: 2 out of 6 in Oak Bay - above average on the neighbourhood leaderboard
The predicted market value of $1,939,474 is nudging down slightly from the 3-month moving average of $1,943,914, so values are easing off just a touch. Nothing alarming - but worth knowing before you set a list price.
Condos: A Thin Market With Big Numbers
Condos in Estevan are a different story. Only one sale last month at $790,000, with 11 days on market and buyers paying 98.87% of list. The sale-to-list ratio is tight, which tells us buyers are engaged but not desperate.
- Average sale price: $790,000
- Average list price this month: $799,000
- Price per square foot: $635
- Days on market: 11
- Sale-to-list ratio: 98.87%
- Predicted market value: $3,408,854
- Estimated monthly rent: $10,003
- Rental yield: 1.62%
- Growth rank: 2 out of 3 in Oak Bay for condos
The condo HonestDoor Price has pulled back 5.76% from the previous period, so if you own a condo here, this is exactly the moment to get a current read on your value - not rely on last year's numbers.
The Secret Sauce: Why Your Tax Assessment Is Already Out of Date
Here is the thing about your BC Assessment notice: it is a snapshot from July 1st of the previous year. By the time it lands in your mailbox, it is already stale. The city assessed the average Estevan home at $1,818,954. The HonestDoor Price right now is $1,911,239. That is a $92,285 gap - and it is the difference between what the government thinks your home is worth and what the real world says it is worth today.
The HonestDoor Price updates in real time using actual sales data. It is the number a buyer's agent is looking at. It is the number a lender cares about. Your assessment is useful for calculating your property tax bill. For everything else - refinancing, listing strategy, estate planning - the HonestDoor Price is the number that actually matters.
For condo owners, that gap is even more striking. The average assessed value is not provided for condos, but the HonestDoor Price sits at $3,212,515. If your condo is in that range, you are sitting on serious equity that a static government number may not reflect.
The So What: Thinking About Selling This Summer?
Summer is historically one of the best windows to list in Oak Bay. Families want to move before September, and Estevan's tree-lined streets look their best in the sun. Here is what the data tells us about your timing.
- Houses are selling in 10 days on average - demand is real
- 659 properties were assessed this year, meaning there is a deep pool of comparable homes - price it sharp
- Neighbourhood growth is 0.02% year over year - steady, not spectacular, so do not wait for a big pop
- Estevan ranks 3rd in Oak Bay for total transactions - we are an active market
- Compared to nearby Uplands (HonestDoor Price $4,281,600), Estevan offers buyers a more accessible entry into Oak Bay - that is a selling point
The honest take: values are easing slightly right now. If you are thinking about selling, waiting for prices to climb back up is a gamble. The buyers are here, the days-on-market numbers are low, and a well-priced home in Estevan will move. Check your HonestDoor Price today, compare it to your assessment, and you will have a much clearer picture of what summer 2026 actually looks like for your wallet.
estevan | oak bay | 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.