Estevan, Victoria - August 2026 Real Estate Report

Estevan Real Estate Right Now: Your Neighbor's Honest Take

The Vibe on the Street

If you own a home in Estevan, Oak Bay, you are sitting on one of Victoria's most talked-about addresses. The average HonestDoor Price here is $2,904,350 - up 3.07% from the last period. That is not a typo. And with the top Airbnb rank in all of Victoria (number 1 out of all neighbourhoods), this pocket of the city is pulling serious attention from buyers, renters, and investors alike.

Houses: Fast Moves, Strong Prices

Here is what is happening with houses in Estevan right now. Homes are selling in an average of 6 days. Six. That is the fastest days-on-market rank in Oak Bay (1 out of 6). When we say this market is moving, we mean it literally.

• Average sale price: $1,557,000
• Average list price this month: $1,525,000
• Price per square foot: $1,497
• Sale-to-list ratio: 102.10% - buyers are paying above asking
• Predicted market value: $1,939,259
• Estimated monthly rent: $6,653 with a rental yield of 3.76%
• Growth rank: 5 out of 6 in Oak Bay

That 102.10% sale-to-list ratio is the number to focus on. It means if you list at $1.5 million, you are likely walking away with more than that. That is a sellers' market doing exactly what it is supposed to do. The one honest flag here - growth ranks 5 out of 6 on the Oak Bay neighbourhood leaderboard, so values are not sprinting ahead. But with homes gone in under a week, demand is clearly real.

Condos: A Different Story

The condo side of Estevan is a different conversation. One condo sold recently at $790,000, coming in just under the $799,000 list price - a 98.87% sale-to-list ratio. That puts us in buyers' market territory for condos, which means there is a little more room to negotiate if you are buying.

• Average sale price: $790,000
• Average list price this month: $799,000
• Price per square foot: $635
• Sale-to-list ratio: 98.87% - slight room to negotiate
• Predicted market value: $3,505,295 - up from the 3-month average of $3,382,440
• Estimated monthly rent: $10,154 with a rental yield of 1.58%
• Airbnb income potential: $504 per month
• Growth rank: 4 out of 6 in Oak Bay

The predicted value trending upward is a good sign for condo owners. And while the rental yield of 1.58% is on the modest side, the sheer rental estimate of $10,154 per month tells you what kind of property we are talking about here.

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

Here is the thing most Estevan homeowners do not realize. Your BC Assessment is a snapshot from July 1st of last year. It is already stale by the time it lands in your mailbox. The HonestDoor Price is updated in real time, pulling from actual sales, current listings, and live market signals.

Right now, the average HonestDoor Price in Estevan is $2,904,350 - up 3.07%. Your government assessment almost certainly does not reflect that. If you are making any financial decision - refinancing, selling, even just understanding your net worth - the HonestDoor Price is the real-world check you need. Think of your tax assessment as last season's weather forecast. The HonestDoor Price is what is actually happening outside right now.

For context, neighbouring Uplands sits at an average HonestDoor Price of $3,618,042, and North Oak Bay comes in at $1,842,851. Estevan sits right in the middle - premium, but not the ceiling. That positioning matters when you are pricing a listing.

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

Honestly? The timing is not bad. Houses are leaving the market in 6 days and selling above list price. Buyers are motivated. Inventory is tight enough that a well-priced home in Estevan is not sitting around collecting dust.

A few things to keep in mind before you plant that sign on the lawn:

• The growth rank for houses sits at 5 out of 6 on the Oak Bay leaderboard - so do not expect a bidding war frenzy. Price it right from day one.
• The sale-to-list ratio of 102.10% means the market rewards accurate pricing. Come in too high and you lose that edge.
• Check your HonestDoor Price before you talk to any agent. Walk into that conversation knowing your number, not guessing at it.
• If you own a condo, the market is a touch softer - buyers have a little leverage. Factor that into your expectations.
• The Airbnb rank of number 1 in Victoria is a genuine selling point. If your home has short-term rental potential, make sure buyers know it.

Bottom line - Estevan is not a neighbourhood that needs hype. The numbers speak for themselves. If you are even thinking about selling, right now is a good time to get a clear picture of where you actually stand.

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.