Fairfield, Victoria - October 2026 Real Estate Report
Fairfield, Victoria: Your Neighbour Just Got a Better Number Than the City Gave Them
If you own a home in Fairfield and the last number you checked was your BC Assessment, you might be leaving real money on the table. Here is what is actually happening on our streets right now.
The Vibe: Houses vs. Condos in Fairfield
The two markets in Fairfield are telling very different stories right now, and it is worth knowing which one you are in.
Houses - Taking a Breather
Let us be straight about it. The house market is cooling. Only 1 house sold this month, down 50% from last month, and the average sale price came in at $1,280,000 - down 8.6%. Buyers are paying about 93 cents on the dollar of list price, which means sellers who price too high are getting cut down at the table.
- Average sale price: $1,280,000 (down 8.6% from last month)
- Average list price this month: $1,374,000
- Sale-to-list ratio: 93.16% - buyers are negotiating
- Average days on market: 29 days
- Price per square foot: $1,084
- Predicted market value: $1,524,789
- Estimated monthly rent: $5,589 with a rental yield of 4.06%
- Growth rank: 8 out of 14 neighbourhoods in Victoria - below average
One bright spot: our houses are still selling faster than Rockland, where homes sit for 41 days compared to our 29. And the predicted value of $1,524,789 is trending up slightly from the 3-month average of $1,518,804. So the floor is not falling out - the market is just recalibrating.
Condos - Steady and Surprisingly Strong
Condos are a different story. Five sold this month, essentially flat from last month, and sellers are getting 99.59% of their list price. That is about as close to asking as you can get. The market is stable, demand is real, and Fairfield condos are moving faster than Rockland (29 days vs. 41 days).
- Average sale price: $576,900 - essentially unchanged
- Average list price: $575,400
- Sale-to-list ratio: 99.59% - almost no negotiation happening
- Average days on market: 29 days
- Price per square foot: $574
- Predicted market value: $1,681,185
- Estimated monthly rent: $5,261 with a rental yield of 3.00%
- Growth rank: 5 out of 14 neighbourhoods in Victoria - above average
- Price rank: 6 out of 14 - above average in Victoria
Worth noting: the predicted condo value of $1,681,185 is pulling back from the 3-month average of $1,723,035, so there is a slight softening in the forecast. But with 42 transactions already in 2026 and 2,179 properties assessed, this is one of the more active condo markets in the city.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here is the thing about BC Assessment. It is a snapshot taken months ago, using data that is even older than that. It does not know what sold on your block last Tuesday. The HonestDoor Price does.
For Fairfield houses, the average HonestDoor Price is $1,481,581 - that is 0.31% above the average assessed value of $1,477,056. Not a massive gap, but it is real money, and it is current. For condos, the gap is enormous. The average assessed value sits at $615,858, while the average HonestDoor Price is $1,726,146. That is 180% higher than what the city has on the books. If a condo owner in Fairfield is making any financial decision based on their assessment alone, they are working with a number that does not reflect reality at all.
The HonestDoor Price is updated in real time using actual transaction data. It is the real-world check against a static government number that gets refreshed once a year - if you are lucky.
The So What - What This Means If You Are Thinking About Selling This Summer
If you own a house in Fairfield and you are thinking about listing this summer, the data is giving you a clear signal: price it right from day one. With buyers paying 93% of list price and only 1 house selling last month, overpricing is the fastest way to sit on the market. The good news is that at 29 days on market, well-priced homes are still moving - faster than Rockland, which is a more expensive neighbour at a predicted $1,703,733.
If you own a condo, your timing is actually pretty solid. Buyers are paying nearly full list price, sales are consistent, and Fairfield condos rank above average in both price and speed across Victoria. You are not in a bidding war market, but you are in a stable one - and stable is not a bad place to sell.
For both property types, check your HonestDoor Price before you do anything else. It is the number that reflects what a buyer would actually pay today - not what the city guessed your home was worth last July.
- Fairfield house HonestDoor Price: $1,481,581 (down 2.83% from last period)
- Fairfield condo HonestDoor Price: $1,726,146 (up 2.67% from last period)
- Airbnb rank in Victoria: 5th for houses, 6th for condos - strong short-term rental potential
- Nearby comparison: Gonzales houses are growing slightly faster at 0.03% vs. our 0.02% - one to watch
- 1,762 house properties and 2,179 condo properties assessed this year - Fairfield is a big, active market
Bottom line: Fairfield is not a market that is running hot right now, but it is not broken either. Know your real number, price with purpose, and you will be in a much better position than the neighbour who is still trusting a year-old assessment.
fairfield | victoria | 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.