Queenswood, Saanich - August 2026 Real Estate Report

Queenswood, Saanich: Your Home Is Worth More Than the City Thinks

If you own a home in Queenswood and you have not looked at your actual market value lately, here is the short version: the city's assessment is running almost $270,000 behind reality. That gap matters, and we will get into exactly why below.

The Vibe - What Is Actually Happening in Queenswood Right Now

Queenswood is one of the priciest addresses in all of Saanich - ranked number one for price out of 17 comparable neighbourhoods. But the market is taking a breather. Here is the honest breakdown for houses and condos.

Houses

• Average HonestDoor Price: $2,343,997
• Average assessed value: $2,075,973 - that is $268,024 lower than what the market says your home is worth
• Average sale price: $2,545,000
• Average list price this month: $2,747,000
• Price per square foot: $1,043
• Homes are selling at 92.56% of list price - buyers are negotiating, and winning
• Average days on market: 140 days - ranked 16 out of 16 in Saanich for speed of sale
• Predicted market value: $2,352,058, slightly down from the 3-month average of $2,363,907
• Estimated monthly rent: $7,511, with a rental yield of 3.63%
• Growth rank: 5 out of 17 in Saanich - solidly above average on the neighbourhood leaderboard
• Only 2 properties sold recently, with 3 total transactions recorded in 2026

The honest read here: Queenswood houses are not flying off the shelf. At 140 days on market, this is the slowest-selling segment in Saanich. Buyers have options and they know it. Homes are going for about 7.5% under asking, which tells us sellers who price aggressively are getting a reality check at the negotiating table. Values are nudging down slightly - off 0.13% recently and the HonestDoor Price has dipped 0.37% from the previous period. Nothing dramatic, but the direction is worth watching.

Condos

• Average HonestDoor Price: $548,067 - up 3.07% from the previous period
• Predicted market value: $531,767, down from the 3-month average of $542,844
• Estimated monthly rent: $2,667, with a rental yield of 3.78%
• Airbnb rank in Saanich: 14 out of the pack
• Growth rank: 10 out of 17 in Saanich - below average on the neighbourhood leaderboard
• Recent value change: -2.95%

Condos in Queenswood are a different story. The HonestDoor Price is up 3.07% - a bright spot - but the predicted value is sliding and the 3-month trend is pointing down. At -2.95% recently, condo owners here are sitting below the Saanich midpoint for growth. Nearby Gordon Head and The Village are both priced slightly higher, which puts Queenswood condos in a competitive spot if you are thinking about listing.

The Secret Sauce - Why Your HonestDoor Price Is the Number That Actually Matters

Here is the thing about your BC Assessment notice: it is a snapshot from July 1st of the previous year. By the time it lands in your mailbox, it is already stale. For Queenswood house owners, that stale number is sitting at $2,075,973 on average. The HonestDoor Price - which updates in real time using actual sales data - puts the average at $2,343,997. That is a 12.91% gap, or roughly $268,000 in home equity that your assessment is not capturing.

If you are making any financial decision based on your assessed value - whether that is a refinance, a home equity line, estate planning, or just figuring out if now is the right time to sell - you are working with the wrong number. The HonestDoor Price is the real-world check that reflects what a buyer would actually pay today, not what a government formula calculated over a year ago.

The "So What?" - Should You Sell in Queenswood This Summer?

If you own a house in Queenswood and you are thinking about selling this summer, here is the straight talk.

The good news: you are sitting on one of the most expensive addresses in Saanich, ranked number one for price out of 17 neighbourhoods. Your home is worth significantly more than your assessment says. Rental demand is strong at $7,511 per month estimated, and Queenswood holds a top Airbnb rank of 1 in Saanich - so if you are not selling, holding and renting is a real option.

The harder truth: buyers are taking their time - 140 days on market is the slowest in Saanich right now. They are also negotiating hard, landing deals at about 92.56% of list price. If you price based on hope rather than data, expect a long wait and a price cut. The market is not collapsing, but it is not a seller's sprint either. Price it right from day one, and you have a real shot. Overprice it, and you will be watching that listing age.

For condo owners, the calculus is tighter. Values have slipped 2.95% recently and growth ranks below the Saanich midpoint. If selling is on your radar, sooner rather than later is worth a serious conversation.

Bottom line: Queenswood is still one of the most desirable spots on the Saanich map. But this is a market that rewards smart pricing, not wishful thinking. Check your HonestDoor Price, know what your home is actually worth today, and make your move with real numbers in hand.

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.