Falaise, Saanich - August 2026 Real Estate Report

Falaise, Saanich: Your Home Is Worth More Than the City Thinks - But the Market Is Taking a Breather

If you've been watching the "For Sale" signs in Falaise lately, here's what's actually happening. Values are holding up better than the headlines suggest, but the momentum has slowed. This is not a panic moment - it's a recalibration. And knowing exactly where you stand right now is the difference between a smart move and a costly one.

The Vibe: Houses vs. Condos in Falaise

Let's break it down for us locals, because houses and condos are telling two slightly different stories right now.

Houses

The average sale price for a house in Falaise is sitting at $1,320,000, with active listings averaging $1,349,900 this month. Buyers are paying about 97.79% of list price - meaning they're negotiating, and they're winning small concessions. That's a stable buyers' market, not a crash, but sellers need to price sharp from day one.

• Average sale price: $1,320,000
• Average list price this month: $1,349,900
• Price per square foot: $739
• Sale-to-list ratio: 97.79% - buyers are paying below list
• Average days on market: 34 days
• Predicted market value (HonestDoor): $1,532,106
• 3-month moving average: $1,542,062 - values are drifting slightly lower
• Estimated monthly rent: $5,603 with a rental yield of 4.03%
• Recent value change: -1.55%
• Neighbourhood growth rank: 12 out of 17 in Saanich - below average on the leaderboard
• Days-on-market rank: 11 out of 16 - homes are moving slower than most of Saanich
• Price rank: 9 out of 17 - sitting in the middle of the pack

One property sold in the most recent period, and homes are sitting for about 34 days before finding a buyer. That's not alarming, but it tells us buyers have options and they know it. If your house is priced even slightly over market, expect it to sit.

Condos

Condos in Falaise are a different conversation. The average HonestDoor Price is $1,065,227 - and that number has dropped 2.38% from the previous period. The predicted market value comes in at $1,091,247, which is just barely above the 3-month moving average of $1,093,031. The trend is pointing downward, slowly but clearly.

• Average HonestDoor Price: $1,065,227 - down 2.38%
• Predicted market value: $1,091,247
• 3-month moving average: $1,093,031 - values are easing
• Estimated monthly rent: $4,387 average, $4,462 predicted
• Rental yield: 2.76% - moderate returns
• Recent value change: -2.96%
• Growth rank: 11 out of 17 in Saanich - below average on the leaderboard
• Airbnb rank in Saanich: 5 - a genuine bright spot for short-term income potential

The one number that stands out for condo owners is the Airbnb rank. Falaise condos rank 5th in Saanich for short-term rental potential, with an estimated $218 per night. If you own a condo here and you're not thinking about that income angle, it's worth a closer look. Nearby Viewmont condos average $984,277 - so Falaise is still commanding a premium over the neighbours.

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 months ago, built on data that's already old by the time it lands in your mailbox. The average assessed value for a house in Falaise is $1,479,946. That sounds solid. But the average HonestDoor Price is $1,508,091 - that's 1.90% higher than what the city says your home is worth.

That gap is real money. On a home in this price range, 1.90% is roughly $28,000 sitting on the table that your tax assessment is not capturing. The HonestDoor Price updates in real time, pulling from actual transaction data and current market signals - not a government formula that gets refreshed once a year.

With values shifting right now - down 1.62% for houses from the previous period - waiting for your next assessment to understand your home's value is like checking last year's weather forecast before you head out the door. The HonestDoor Price is the real-world check you need today, not next spring.

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

If you're a Falaise homeowner weighing a summer sale, here's the straight talk.

• The market is not collapsing - but it is cooling. Values are off slightly, days on market are creeping up, and buyers are negotiating.
• Falaise houses rank 12 out of 17 neighbourhoods in Saanich for growth right now. That means 11 other neighbourhoods are outpacing us. Waiting for a big run-up may not be the right play.
• Pricing at or just below your HonestDoor Price - not your assessed value - gives you the best shot at a clean, fast sale. The 97.79% sale-to-list ratio tells us overpriced homes are getting cut down anyway.
• With 554 properties assessed in Falaise and only 5 transactions recorded in 2026 so far, inventory relative to sales is something to watch. Low transaction volume means your home needs to stand out.
• Rental demand is real. If the sale timeline stretches, a house renting at $5,544 per month or a condo at $4,387 gives you a solid backup plan while you wait for the right buyer.

Bottom line - Falaise is still one of the pricier addresses in Saanich, ranking 7th for average assessed value across the district. That's a strong foundation. But this summer rewards sellers who are realistic, well-priced, and move with current data - not last year's numbers.

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.