Quadra, Saanich - August 2026 Real Estate Report

Quadra, Saanich: Your Neighbour Just Got a Reality Check on Their Home Value

If you own a home in Quadra and you haven't looked at your numbers lately, now is the time. The market here is shifting, and the gap between what the city thinks your place is worth and what buyers will actually pay is getting real. Here is the straight story.

The Vibe: Houses vs. Condos in Quadra Right Now

We are seeing two very different stories playing out on our streets depending on what you own.

Houses - Taking a Breather

If you've been watching the "For Sale" signs in Quadra, here's what's actually happening with houses right now. The average sale price sits at $882,500, and that's down 18.6% from last month. Only 1 house sold this month, and it sat on the market for 85 days before finding a buyer. That's longer than nearby Saanich Core at 84 days - a small gap, but it points in the same direction.

• Average sale price: $882,500 (down 18.6% from last month)
• Average list price: $949,000
• Sale-to-list ratio: 92.99% - buyers are paying below asking
• Price per square foot: $853
• Average days on market: 85 days
• HonestDoor predicted value: $1,139,586
• Estimated monthly rent: $4,572
• Rental yield: 4.48%
• Recent value change: -0.81%
• Growth rank in Saanich: 10 out of 17 - below average on the neighbourhood leaderboard
• Price rank in Saanich: 15 out of 17 - among the most affordable in the city
• Days-on-market rank: 14 out of 16 - one of the slower-selling pockets in Saanich

The predicted value of $1,139,586 is actually sitting slightly above nearby Shelbourne at $1,127,361, which is a small win for us. But the 3-month moving average of $1,141,982 is trending down, so this is not the moment to sit back and assume prices will climb on their own.

Condos - Steadier, But Not Immune

Our condo market is a different animal. Sales are holding at $480,000 on average, essentially flat from last month, and condos are moving faster - just 22 days on market. That's a meaningful difference from houses. Two units sold this month, and buyers paid 96.62% of list price, which is closer to full ask than what we're seeing on the house side.

• Average sale price: $480,000
• Average list price: $402,933
• Sale-to-list ratio: 96.62%
• Price per square foot: $855
• Average days on market: 22 days
• HonestDoor predicted value: $894,561
• Estimated monthly rent: $3,323
• Rental yield: 3.63%
• Recent value change: -3.93%
• Growth rank in Saanich: 13 out of 17 - below average on the neighbourhood leaderboard
• Days-on-market rank: 4 out of 11 - one of the faster-moving condo markets in Saanich
• Price rank in Saanich: 8 out of 12 - below average in price

Condo values have dropped 4% from the previous period and the 3-month moving average of $922,509 is sliding. The speed of sales is a bright spot, but the direction of prices is something every condo owner here should be watching closely.

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 old sales data, and it doesn't care what the market did last week. For houses in Quadra, the average assessed value is $1,120,990. The HonestDoor Price right now is $1,112,247 - already 0.78% below that assessment and down 1.99% from the previous period.

For condos, the gap is even more striking. The average assessed value is $455,547, but the HonestDoor Price is $927,060 - that's 103.50% higher than the assessment. If you're a condo owner making any financial decision based on your tax assessment, you are working with a number that is wildly out of step with reality.

The HonestDoor Price is updated in real time using actual transaction data. It's the real-world check against a static government number. With values moving the way they are in Quadra right now - down 1.99% on houses and down 4% on condos - waiting for your next annual assessment to understand your equity position is not a strategy. It's a gamble.

The So What: Thinking About Selling This Summer?

Let's be honest about what this data is telling us. If you own a house in Quadra and you're thinking about listing this summer, the window for easy money has narrowed. Buyers are negotiating hard - paying about 7% below list price on average. Homes are sitting for 85 days. That's nearly three months of carrying costs, open houses, and uncertainty before a deal closes.

That doesn't mean you shouldn't sell. It means you need to price it right from day one. Overpricing a house in a market ranked 15 out of 17 on price and 14 out of 16 on days-on-market is the fastest way to watch your listing go stale.

If you own a condo, the picture is a bit more encouraging. Faster sales and a more stable price point mean you have more leverage than your house-owning neighbours right now. But the -3.93% value change is a signal - if selling is on your radar, sooner beats later.

For both property types, check your HonestDoor Price before you do anything else. It's the most current read on what your place is actually worth in this market - not what it was worth when the city last ran its numbers. With 3,379 houses and 399 condos assessed in Quadra this year, and 29 house transactions and 12 condo transactions recorded in 2026, the real data is there. Use it.

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.