North Park, Victoria - September 2026 Real Estate Report

North Park, Victoria: Your Home Is Worth More Than The City Thinks

If you've been glancing at your latest property assessment and wondering if that number is actually what your place is worth - it isn't. The city's assessment is a snapshot from the past. The HonestDoor Price is what's happening right now, and for North Park homeowners, the gap is significant.

The Vibe: What's Actually Going On In Our Neighbourhood

Houses - Steady, Affordable, and Selling Fast

We're sitting in an interesting spot for houses right now. The average sale price is $698,000, and listings are coming in at $699,000 - those numbers are basically identical, which tells us the market is honest and stable. Buyers are paying 99.86% of list price, so there's no wild discounting happening. Sellers are getting what they ask for.

• Average sale price: $698,000
• Average list price: $699,000
• Price per square foot: $515
• Average days on market: 14 days
• Sale-to-list ratio: 99.86%
• Predicted market value: $970,982
• Estimated monthly rent: $4,062
• Rental yield: 4.81%

Fourteen days on market is genuinely fast. That ranks us 3rd out of 12 comparable Victoria neighbourhoods for speed of sale. Houses here are not sitting. On price, we rank 13th out of 13 - meaning we are among the most affordable options in the city for houses. That is a buyer magnet, and it explains the quick turnarounds.

One thing to watch: the predicted value of $970,982 is dipping slightly below the 3-month moving average of $982,881, and recent value change sits at -2.18%. The market is taking a breather. Growth ranks 10th out of 14 comparable neighbourhoods - below average on the neighbourhood leaderboard right now. Not alarming, but worth knowing before you price.

Condos - High Potential, Slower Pace

The condo picture in North Park is a bit more nuanced. We had 14 transactions in 2026 across 523 assessed properties, and the average sale price landed at $355,000 - actually beating nearby Downtown condos, which averaged $305,000. That's a solid position to be in.

• Average sale price: $355,000
• Average list price: $374,900
• Price per square foot: $437
• Average days on market: 41 days
• Sale-to-list ratio: 94.69%
• Predicted market value: $2,204,358
• Estimated monthly rent: $6,328
• Rental yield: 2.81%
• Airbnb rank in Victoria: 2nd

Condos are taking 41 days to sell on average, compared to 24 days in Downtown. That gap matters if you're planning to list. Buyers have room to negotiate - the 94.69% sale-to-list ratio confirms that. On the neighbourhood leaderboard, condo growth ranks 7th out of 14 - above average, which is encouraging. And that Airbnb rank of 2nd in all of Victoria? North Park condos are a serious short-term rental play for investors who know what they're doing.

Recent value change is -0.69%, and the predicted value of $2,204,358 is easing down from the 3-month average of $2,216,552. The market is cooling slightly, but the fundamentals - rental income, Airbnb potential, and transaction volume - are still strong.

The Secret Sauce: Your HonestDoor Price vs. The City's Number

Here's the thing most North Park homeowners don't realize. The city's average assessed value for houses here is $938,631. The average HonestDoor Price is $996,628. That's a $57,997 difference - and the HonestDoor Price is 6.18% higher than what the assessment shows.

For condos, the gap is even more dramatic. The average assessed value is $450,627. The average HonestDoor Price is $2,119,289. The assessment is not even in the same conversation as real-world value.

Government assessments are calculated months in advance using broad formulas. They don't account for what buyers are actually paying on your street right now. The HonestDoor Price pulls from real transaction data and updates in real time. It's the number that reflects what a buyer would actually put on the table today - not what a formula decided last year.

If you're making any financial decision - refinancing, selling, or just figuring out your net worth - the HonestDoor Price is the number to use. The assessment is a tax document. The HonestDoor Price is reality.

The So What: Should You Sell in North Park This Summer?

For house sellers, the case is straightforward. Homes are moving in 14 days, buyers are paying near full list price, and you're priced as one of the most accessible options in Victoria. That draws traffic. The slight dip in predicted value (-2.18%) suggests this summer - not fall - is the smarter window to list. Waiting could mean chasing a market that's already moved.

For condo sellers, patience and pricing are everything right now. Buyers are negotiating, and 41 days on market means you need to come in sharp. Price it right from day one - the 94.69% sale-to-list ratio tells us overpriced condos are getting cut down anyway. The upside is that North Park condos are still beating Downtown on sale price, and that Airbnb ranking of 2nd in Victoria gives you a strong story to tell investors.

Bottom line: North Park is not a hot-and-frothy market right now, and that's fine. It's a real market with real buyers. Houses sell fast and fairly. Condos take more work but carry serious income potential. And across both property types, your HonestDoor Price is telling a better story than your assessment ever will.

Check your HonestDoor Price before you do anything else. It takes two minutes and it's free - and it might change the conversation you have with your agent this summer.

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.