Silverhill, Mission - August 2026 Real Estate Report

Silverhill, Mission: Your Assessment Is Lying To You

If you own a home in Silverhill and you've been feeling good about that government assessment sitting in your mailbox, we need to talk. The gap between what the city thinks your place is worth and what a buyer will actually pay is one of the biggest in Mission right now - and it matters more than most people realize.

The Vibe: What's Actually Happening on Our Streets

Houses

The honest picture for Silverhill houses right now is a market that's taking a breather. The HonestDoor Price for a house here sits at $1,067,946 - and it's slipping slightly from the 3-month moving average of $1,082,114. Values have dipped 1.22% recently, and on the neighbourhood leaderboard, Silverhill houses rank 12 out of 12 for growth in Mission. Dead last. That's not a reason to panic, but it is a reason to pay attention.

• Average HonestDoor Price (Houses): $1,070,140
• Recent price change: -1.22%
• Year-over-year neighbourhood growth: -0.07%
• Estimated monthly rent: $3,859
• Rental yield: 4.91%
• Airbnb potential: $192 per night
• Airbnb rank in Mission: 10 out of comparable neighbourhoods
• Growth rank in Mission: 12 out of 12

One bright spot - if you're thinking short-term rental, Silverhill holds its own. At $192 a night, the Airbnb potential is real, even if long-term appreciation is slow right now.

Condos

Condos tell a slightly different story. The HonestDoor Price for a Silverhill condo is $385,567, down from a 3-month moving average of $395,711, with a recent dip of 2.83%. But here's the flip side - on the condo leaderboard, Silverhill ranks 4 out of 9 neighbourhoods in Mission. That puts us in above-average territory for condos, which is a better position than our houses are sitting in right now.

• Average HonestDoor Price (Condos): $390,067
• Recent price change: -2.83%
• HonestDoor Price change from previous period: +1.17%
• Estimated monthly rent: $2,043
• Rental yield: 4.05%
• Airbnb potential: $102 per night
• Airbnb rank in Mission: 7
• Growth rank in Mission: 4 out of 9

The Secret Sauce: Why Your Tax Assessment Is Not Your Friend Right Now

Here's the number that should make every Silverhill homeowner stop scrolling. The average assessed value for a house here is $1,718,995. The average HonestDoor Price is $1,070,140. That's a gap of 37.75%. The city's assessment is running nearly $650,000 higher than what the real-world market is pricing your home at right now.

Government assessments are a snapshot from the past - they don't update in real time, and they don't care that the market has shifted. The HonestDoor Price is recalculated continuously using actual sales data and current market signals. It's the number a buyer's agent is going to use when they sit across the table from you. Knowing it now - before you list, before you refinance, before you make any big financial move - is just smart.

Silverhill also holds the rank of 1 in Mission for average assessed value. That sounds impressive until you realize it means the gap between perception and reality is bigger here than almost anywhere else in the city. Your neighbours in Keystone, Ruskin, and Silverdale are all sitting on HonestDoor Prices well above $1.4 million. We're at $1.07 million. That context matters when you're deciding your next move.

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

If you're a Silverhill homeowner eyeing a summer sale, here's the straight talk. Pricing off your assessment will get you laughed out of the market. Buyers are informed, their agents are running comps, and a $1.7 million ask on a home the market values at $1.07 million is going to sit. And sitting costs you money.

The growth numbers are not in your favour right now - ranking last in Mission for house price growth means you're not in a position to wait for the market to bail you out. If you need to sell, price it right from day one. A well-priced Silverhill home can still move. An overpriced one will just help your neighbours sell theirs faster.

The rental yield of 4.91% on houses is actually a reasonable argument for holding if you're not in a rush. Renting at $3,859 a month while you wait for conditions to improve is a legitimate strategy - just go in with clear eyes about where growth is sitting right now.

Bottom line - check your HonestDoor Price before you do anything. It's the real-world number, not the feel-good one on your assessment notice.

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.