Fairfield, Victoria - September 2026 Real Estate Report

Fairfield, Victoria: Your Neighbour Just Got a Reality Check on Their Home Value

If you own property in Fairfield and you're still looking at your city assessment to know what your place is worth, you're working with old news. Here's what's actually happening on the ground right now.

The Vibe: Houses vs. Condos in Fairfield

These two markets are telling very different stories right now, and if you own here, it pays to know which one you're in.

Houses - Fast Sales, But Prices Are Taking a Breather

If you've been watching the "For Sale" signs in Fairfield, here's what's actually happening with houses. The average sale price sits at $1,275,000 this month - down 23.9% from last month. That's a big swing, but with only 1 sale recorded this month, one transaction can move that number dramatically. Don't panic yet.

The more telling stat? Homes are flying off the market in an average of 6 days. That earns Fairfield houses a days-on-market rank of 1 out of 12 neighbourhoods in Victoria. Dead last in wait time. That means when a well-priced house hits the market here, buyers are ready to move fast.

• Average sale price this month: $1,275,000
• Average list price this month: $1,243,500
• Sold vs. list price: 102.53% - buyers paid above asking
• Price per square foot: $827
• Average days on market: 6
• Predicted market value: $1,507,148
• 3-month moving average: $1,520,482 (values are easing slightly)
• Estimated monthly rent: $5,543
• Rental yield: 4.08%
• Growth rank: 5 out of 14 neighbourhoods - solidly above average on the Victoria leaderboard

We're in a market where buyers are still paying over list, but the predicted value is dipping slightly below the 3-month average. That's the market taking a breather, not falling apart.

Condos - Rising Prices, But Buyers Are Holding the Cards

The condo story in Fairfield is a bit of a head-scratcher at first glance, but stick with us. The average sale price jumped 12.2% from last month to $564,750. Good news, right? Except buyers are paying only 95.80% of list price, meaning sellers are having to negotiate. Properties are sitting for an average of 42 days - longer than nearby Rockland at 41 days.

This is what a buyers' market with rising prices looks like. Demand is there, but buyers know they have options and they're using that leverage.

• Average sale price this month: $564,750
• Average list price this month: $589,500
• Sold vs. list price: 95.80% - buyers negotiated below asking
• Price per square foot: $590
• Average days on market: 42
• Predicted market value: $1,737,827
• 3-month moving average: $1,735,371 (values are edging up slightly)
• Estimated monthly rent: $5,326
• Rental yield: 2.99%
• Growth rank: 8 out of 14 neighbourhoods - below average on the Victoria leaderboard
• Total transaction rank in Victoria: 2 out of all neighbourhoods - we're one of the busiest condo markets in the city

Fairfield condos are above average in price (ranked 5 out of 14 in Victoria), and the predicted value is slightly ahead of nearby Rockland. But with growth ranking in the bottom half, this market needs watching.

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

Here's the thing about your city assessment - it's a snapshot from the past. It doesn't know what sold on your street last Tuesday. The HonestDoor Price is updated in real time using actual market activity, and right now, it's telling a very different story than the government's numbers.

For houses in Fairfield, the average assessed value is $1,477,279. The average HonestDoor Price is $1,524,789 - that's $47,510 higher, and 3.22% above the assessed value. If you're pricing a sale based on your assessment alone, you could be leaving real money on the table.

For condos, the gap is even more striking. The average assessed value is $615,858. The average HonestDoor Price is $1,681,185. That's a 172.98% difference. The assessment and the real-world market are not even in the same conversation. If you're a condo owner in Fairfield and you haven't checked your HonestDoor Price recently, now is the time.

Think of the HonestDoor Price as your real-world check - the number that reflects what a buyer would actually put on paper today, not what a government office calculated months ago.

The 'So What?': Thinking About Selling This Summer?

If you own a house in Fairfield and you're thinking about listing this summer, the fundamentals are working in your favour. Buyers are paying above list price. Homes are selling in less than a week. You're sitting in a neighbourhood ranked 3 out of 13 in Victoria for price - that's a strong position. The market is taking a breather on price growth (up just 0.02% year over year), but the speed of sales tells you demand hasn't gone anywhere.

For condo owners, the picture calls for a sharper strategy. Buyers are negotiating, and homes are sitting for over 40 days. Pricing right from day one matters more here than in the house market. The good news is Fairfield condos are still among the priciest in Victoria and transaction volume is high - ranked 2nd in the city. There are buyers here. They just need the right number to say yes.

Either way, the smartest first move before you call an agent is to check your HonestDoor Price. It's the most current read on what your property is actually worth in today's market - not last year's market, not the city's best guess. Today's market.

• Fairfield house HonestDoor Price: $1,524,789 (up 1.17% from last period)
• Fairfield condo HonestDoor Price: $1,681,185 (down 3.26% from last period - worth watching)
• Nearby comparison - Gonzales houses at $1,599,112 and Rockland houses at $1,890,940 show where the ceiling is in this part of Victoria
• Average rental income for a house: $5,589 per month
• Airbnb potential: $278 per night - ranked 5th in Victoria

Fairfield is one of the stronger addresses in Victoria. The data backs that up. Just make sure the number you're working with is the real one.

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.