Saanich Core, Saanich - August 2026 Real Estate Report

Saanich Core Real Talk: Your Home Is Worth Way More Than the City Thinks

If you have been glancing at your property tax assessment and wondering if that number is actually what your home is worth - it is not. Not even close. Here is what is really going on in Saanich Core right now.

The Vibe: Houses vs. Condos

Houses - Holding Strong at the Top

We are sitting in a stable but competitive spot for houses. The average sale price is coming in at $638,500, and homes are moving in about 26 days - faster than nearby Burnside where properties are sitting for 32 days. That is a real signal that buyers are still showing up for Saanich Core houses.

• Average sale price: $638,500
• Current average list price: $649,999
• Price per square foot: $537
• Homes selling at 98.23% of list price - buyers are close to full ask
• Average days on market: 26
• Predicted market value: $1,208,483
• Estimated monthly rent: $4,709
• Rental yield: 4.66%

The predicted value is ticking up - $1,208,483 now versus a 3-month moving average of $1,207,312. Small move, but it is moving in the right direction. On the neighbourhood leaderboard, Saanich Core houses rank 2 out of 17 neighbourhoods in Saanich for growth. That is a top-tier finish. Price rank sits at 17 out of 17, meaning we are among the most affordable in Saanich by sale price - which for buyers is actually a green light, not a red flag.

Condos - Taking a Breather

The condo side is a different story right now. Two units sold this period, and they are sitting on the market for an average of 84 days. Buyers paid 95.98% of list price, which tells us there is room to negotiate. Values have dipped 0.84% recently, and the predicted value of $546,479 is slightly below the 3-month moving average of $548,785. The market is taking a breather here.

• Average sale price: $401,000
• Current average list price: $417,450
• Price per square foot: $597
• Condos selling at 95.98% of list price
• Average days on market: 84
• Predicted market value: $546,479
• Estimated monthly rent: $2,706
• Rental yield: 3.77%

That said, on the neighbourhood leaderboard, Saanich Core condos still rank 3 out of 17 in Saanich for growth. So even in a slower stretch, we are outperforming most of the city. The rental story also holds up - $2,706 a month in estimated rent is nothing to ignore if you are holding a condo as an investment.

The Secret Sauce: Ignore Your Assessment, Check Your HonestDoor Price

Here is the thing about your BC Assessment number - it is a snapshot from last year. It does not know what happened on your street last month. It does not factor in what buyers are actually paying right now. It is a government estimate built for tax purposes, not for real-world decisions.

The HonestDoor Price is the real-world check. And right now, the gap in Saanich Core is significant.

• Houses - Average assessed value: $921,850. Average HonestDoor Price: $1,225,941. That is a difference of nearly $304,000, or 32.99% higher than what the city thinks your home is worth.
• Condos - Average assessed value: $508,966. Average HonestDoor Price: $554,092. That is 8.87% above the assessment.

Both HonestDoor Prices are also trending up - houses increased 1.44% and condos increased 1.39% from the previous period. If you are making any financial decision based on your assessment alone, you are working with an outdated number. The HonestDoor Price updates in real time using actual market data. That is the number that matters.

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

If you own a house in Saanich Core and you are thinking about listing this summer, the timing is worth a serious look. Here is why.

We are ranked 2 out of 17 neighbourhoods in Saanich for house value growth. Homes are selling in 26 days - faster than most nearby areas. Buyers are paying 98 cents on the dollar, which is about as close to full price as a balanced market gets. And your real market value - the HonestDoor Price - is sitting at $1,225,941, not the $921,850 on your tax notice.

For condo owners, the honest answer is that this summer is more of a patience game. Days on market are long, values have softened slightly, and buyers have a bit more leverage. That does not mean do not sell - it means price it right from day one. Sitting at $417,450 on average and taking 84 days to move suggests overpriced listings are getting punished. Come in sharp and you can still get a deal done.

Bottom line - whether you own a house or a condo in Saanich Core, the first thing to do before any conversation with a realtor is check your HonestDoor Price. It is the most current read on what the market actually thinks your home is worth today - not what the city decided last July.

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.