Queenswood, Saanich - October 2026 Real Estate Report
Queenswood, Saanich: Your Home Is Worth More Than the City Thinks
If you own property in Queenswood and you're still looking at your BC Assessment notice to figure out what your home is worth, it's time for a reality check. The numbers have moved - and they've moved in your favour.
The Vibe: What's Actually Happening on Our Streets
Queenswood is one of the priciest pockets in all of Saanich, and the data backs that up. We're sitting at a price rank of 2 out of 17 neighbourhoods - meaning almost nowhere else in Saanich commands what our homes do. Here's how houses and condos are each telling their own story right now.
Houses: Steady, Premium, and Still Moving
If you've been watching the "For Sale" signs in Queenswood, here's what's actually happening. The market for houses is calm but not cold. Buyers are active, sellers are realistic, and prices are holding at a level most of Saanich can't touch.
- Average sale price: $1,706,667
- Average list price this month: $1,803,667
- Price per square foot: $632
- Homes are selling at 94.58% of list price - buyers are negotiating, but not by much
- Average days on market: 56
- 3 properties sold recently - a quiet but consistent pace
- Predicted market value: $2,388,515 - up from the 3-month average of $2,361,714
- Estimated monthly rent: $7,605 with a rental yield of 3.62%
- Growth rate ranks 2 out of 17 neighbourhoods in Saanich - near the top of the leaderboard
The 56-day average time on market is worth noting. Days-on-market ranks 11 out of 14 in Saanich, which means our homes take a bit longer to sell than other areas. That's not a red flag - it's the reality of a high-price segment where the right buyer takes a little longer to find. When they do find it, they pay close to full price.
Property values have moved 1.87% recently, and the predicted value of $2,388,515 is trending upward. For context, nearby The Village Centre clocks a predicted value of $2,469,583 - so there's still room for Queenswood houses to close that gap.
Condos: A Smaller Slice, But Gaining Ground
Condos in Queenswood are a different story - smaller price points, but the momentum is real. The predicted market value sits at $570,867, which is up from the 3-month moving average of $550,233. That's a 4.16% recent change in property values, ranking 6 out of 17 comparable neighbourhoods in Saanich. That's above average growth, and it matters if you're holding one of these units.
- Average HonestDoor Price: $557,867 (down 2.28% from last period - worth watching)
- Predicted market value: $570,867
- 3-month moving average: $550,233 - values are climbing
- Estimated monthly rent: $2,823 with a rental yield of 3.70%
- Airbnb potential: $138 per night - ranked 14 in Saanich for short-term rental income
- Growth rank: 6 out of 17 in Saanich - above average
The HonestDoor Price dipping 2.28% period-over-period is the one number condo owners should keep an eye on. It's not a crisis - the predicted value is still climbing - but it's a signal that the condo segment is taking a small breather. If you're thinking about timing a sale, sooner beats later while the predicted value is still trending up.
The Secret Sauce: Your HonestDoor Price vs. That Government Assessment
Here's the number that should make every Queenswood homeowner sit up straight. The average BC Assessment for a home here is $2,075,973. The average HonestDoor Price is $2,395,702. That's a gap of $319,729 - or 15.40% more than what the government says your home is worth.
Why does that gap exist? BC Assessment values are calculated once a year using data that's already months old by the time it lands in your mailbox. The HonestDoor Price pulls from real-time sales activity, current listing trends, and live market signals. It's updated continuously - not annually. In a neighbourhood like Queenswood, where 334 properties were assessed this year and values are actively moving, that gap between the two numbers is money left on the table if you're using the wrong figure to make decisions.
The HonestDoor Price has also increased 0.36% from the previous period. Small move, but it's moving in the right direction. And with a neighbourhood growth rank of 2 out of 17 in Saanich, Queenswood is near the top of the leaderboard - not coasting in the middle.
One more number worth knowing: Queenswood ranks 1st in all of Saanich for Airbnb income potential on houses. If you own here and you're not thinking about short-term rental income at $379 per night, that's a conversation worth having.
The So What: Should You Sell This Summer?
If you're a Queenswood homeowner thinking about listing this summer, here's the straight talk.
- Your home is almost certainly worth more than your assessment says - by a significant margin
- Buyers are paying 94.58% of list price, which means pricing it right matters more than ever
- 56 days on market is the average - plan for a patient process, not a weekend bidding war
- Every nearby neighbourhood - The Village at $1,576,213, The Village Centre at $1,904,301 - is cheaper than Queenswood. You're at the top of the local market
- Growth is holding near the top of the Saanich leaderboard, but neighbourhood growth year-over-year is flat at 0.00% - the market isn't accelerating, it's holding
Holding steady at the top of the market is a strong position. But "holding steady" also means this isn't a moment where waiting six months will dramatically change your outcome. If your life is calling for a move, the conditions are reasonable. Price it based on the HonestDoor Price - not the assessment - and you'll start the conversation in the right place.
Check your HonestDoor Price at HonestDoor.com. It takes about 30 seconds and it's the most current number you'll find for your specific property in Queenswood.
queenswood | saanich | october 2026This 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.