Seawalk, Campbell River - July 2026 Real Estate Report

Seawalk, Campbell River: Your Home Is Worth Less Than the City Thinks

If you own in Seawalk and you have been quietly assuming your assessed value is what your home is worth, it is time for a reality check. The city has your house pegged at an average of $1,329,628. The actual market? Closer to $1,202,980. That is a $126,648 gap - and it matters more than you might think.

The Vibe: What Is Actually Happening in Seawalk Right Now

Seawalk is one of Campbell River's priciest addresses, and that is not changing anytime soon. But the market is clearly taking a breather. Here is how houses and condos are stacking up for us right now.

Houses

The honest picture on houses is a mixed bag. Values are nudging up slightly on the HonestDoor Price - a 1.03% gain from last period - but the 3-month trend tells a different story. The predicted value of $1,196,724 is sliding below the 3-month moving average of $1,221,656, and recent price change sits at -2.66%. That is not a crash, but it is a signal worth watching.

• Average HonestDoor Price: $1,202,980
• Predicted Market Value: $1,196,724
• 3-Month Moving Average: $1,221,656
• Recent Price Change: -2.66%
• Average Assessed Value: $1,329,628 (9.53% higher than the HonestDoor Price)
• Estimated Monthly Rent: $4,437 - $4,460
• Rental Yield: 4.74%
• Airbnb Estimate: $220 - $221 per night
• Airbnb Rank in Campbell River: 1st (top of the city)
• Neighbourhood Growth Rank: 9 out of 9 in Campbell River

That last number deserves a plain-English translation. On the neighbourhood leaderboard for house price growth, Seawalk sits dead last - 9th out of 9 comparable neighbourhoods. The short-term rental game is strong here (best Airbnb rank in the city), but pure appreciation is not where Seawalk is winning right now.

Condos

The condo side of Seawalk is a different animal. We are seeing a buyers' market in action. One condo sold recently at 96.17% of list price, meaning the buyer negotiated the seller down. Properties are sitting on the market for an average of 109 days - that is not a fast-moving segment.

• Average HonestDoor Price: $515,432 (down 1.57% from last period)
• Predicted Market Value: $523,662
• 3-Month Moving Average: $521,348 (values are creeping up slightly)
• Average Sale Price: $500,000
• Average List Price: $519,900
• Price Per Square Foot: $423
• Sale-to-List Ratio: 96.17%
• Average Days on Market: 109
• Estimated Monthly Rent: $2,532 - $2,567
• Rental Yield: 3.81%
• Airbnb Estimate: $126 - $127 per night
• Airbnb Rank in Campbell River: 6th
• Growth Rank: 6 out of 9 in Campbell River

Condos here are priced well below what you would find in Downtown ($2,313,931 HonestDoor Price) or Campbelton ($1,477,873), which makes Seawalk condos look like relative value on paper. But slower sales and below-list selling prices tell us buyers have the upper hand right now.

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

Here is the thing about your BC Assessment. It is a snapshot taken months ago, based on data that is even older than that. It does not know what happened to prices last quarter. It does not adjust for the current slowdown. It is essentially a photograph of a market that has already moved on.

For Seawalk house owners, that gap is enormous. The city's assessment says $1,329,628. The HonestDoor Price - updated in real time using current sales data - says $1,202,980. If you are pricing a home based on your assessment, you are starting the conversation $126,000 too high. Buyers know this. Their agents know this. You should too.

The HonestDoor Price is your real-world check. It reflects what a buyer would actually pay today, not what the city guessed your home was worth last July.

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

If you are a Seawalk house owner eyeing a summer sale, here is the straight talk. The market is not in your corner the way it was a couple of years ago. Growth is ranked last in the city, values are drifting below the 3-month average, and the assessed value is inflated compared to what buyers are willing to pay. That does not mean you cannot sell well - it means you need to price smart from day one.

Overpricing based on your assessment is the fastest way to sit on the market and eventually take a lower offer anyway. Start with your HonestDoor Price as the anchor, not the assessment.

On the upside, if your house has strong short-term rental potential, Seawalk is the top Airbnb neighbourhood in all of Campbell River. That is a real selling point worth putting front and centre for the right buyer.

For condo owners, the math is tougher. With 109 average days on market and buyers consistently paying below list, patience and realistic pricing are the only strategies that work right now. The good news is that predicted values are ticking slightly upward month over month, so the floor looks stable.

Bottom line - check your HonestDoor Price before you do anything else. It is the most current read on what your Seawalk property is actually worth in today's market, not last year's.

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.