Estevan, Victoria - September 2026 Real Estate Report

Estevan Real Estate Right Now: Still the Priciest Street at the Party

If you own a home in Estevan, you already know this neighbourhood does not come cheap. But knowing your place is expensive and knowing exactly what it is worth right now are two very different things. Here is the real talk on where things stand heading into summer.

The Vibe: Houses vs. Condos

Houses

If you have been watching the "For Sale" signs on our streets, here is what is actually happening. The house market in Estevan is steady - not on fire, not falling apart. Four homes sold last month, and they moved at 97.15% of list price. That means buyers are negotiating, and sellers who price sharp are still closing deals. The ones who do not? They are sitting. Average days on market hit 38, which ranks 5 out of 6 neighbourhoods in Oak Bay for speed. That is slow. Price your home like it is 2022 and you will feel every one of those 38 days.

• Average sale price: $2,060,000
• Average list price this month: $2,137,250
• Price per square foot: $722
• Sale-to-list ratio: 97.15% - buyers are getting a discount
• Average days on market: 38
• Predicted market value: $1,953,009
• Estimated monthly rent: $6,692
• Rental yield: 3.75%
• Growth rank: 5 out of 6 in Oak Bay - bottom of the leaderboard right now

That growth rank is worth paying attention to. On the Oak Bay neighbourhood leaderboard, Estevan houses are sitting near the bottom for recent price movement. Values are up a modest 0.71%, but the 3-month trend is drifting slightly downward. This is the market taking a breather, not crashing - but it is a signal to stay sharp.

Condos

The condo story in Estevan is a bit of a mixed bag for us. Only one unit sold last month, so we are working with a thin data set - take the trends with that in mind. The good news is that one unit sold in just 11 days, which ranks 1 out of 3 in Oak Bay for speed. Condos here move fast when they are priced right. The less exciting news is that condo values have slipped 1.67% recently, and the predicted value is sitting just below nearby North Oak Bay.

• Average sale price: $790,000
• Average list price this month: $799,000
• Price per square foot: $635
• Sale-to-list ratio: 98.87%
• Average days on market: 11
• Predicted market value: $3,446,729
• Estimated monthly rent: $10,062
• Rental yield: 1.60%
• Growth rank: 4 out of 6 in Oak Bay - below average on the leaderboard

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here is something most Estevan homeowners do not think about until it is too late. Your BC Assessment is a snapshot from July 1st of last year. The market has moved since then - sometimes a little, sometimes a lot. Your HonestDoor Price is updated in real time, pulling in current sales data to give you a number that actually reflects today's market, not last year's.

The average HonestDoor Price for Estevan right now is $2,904,350 - up 3.07% from the previous period. That is a meaningful jump. If you are relying on your tax assessment to understand what your home is worth, you are likely working with a stale number. The HonestDoor Price is the real-world check that tells you where you actually stand before you make any big decisions.

And if you are curious about income potential, the average rental estimate for the neighbourhood sits at $9,232 per month. On the short-term side, Estevan holds the number 1 Airbnb rank in all of Victoria, with an average nightly rate of $459. That is not a small detail for anyone thinking about their options.

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

Selling in Estevan this summer is absolutely doable, but you need to go in with clear eyes. Here is the honest breakdown.

• Buyers are negotiating. That 97.15% sale-to-list ratio on houses means the days of getting over asking without a fight are on pause. Price it right from day one.
• Slow days on market hurt you. At 38 days average, a stale listing loses leverage fast. A well-priced home still sells. An overpriced one just sits and signals weakness to every buyer who walks through.
• Your HonestDoor Price at $2,904,350 is your starting point for a real conversation - not your assessment, not what your neighbour got two years ago.
• Compared to North Oak Bay at $1,810,576, Estevan commands a serious premium. That premium is real, but it only holds if the home is presented and priced to match expectations at this level.
• Uplands at $3,663,819 is the ceiling above us. Buyers shopping at the Estevan price point are comparing. Make sure your home wins that comparison.

Bottom line - Estevan is still one of the most desirable addresses in Victoria. The market is not broken, it is just more balanced than it was. Sellers who respect that will move their homes. Those who do not will be updating their listing price in 30 days.

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.