South Jubilee, Oak Bay - June 2026 Real Estate Report

South Jubilee, Oak Bay: Your Neighbour Just Got a Reality Check on Their Home Value

If you own a home in South Jubilee and you're still relying on your BC Assessment notice to know what your place is worth, it's time for an honest conversation. The market has moved, and not entirely in the direction you might hope. Here's what's actually going on right now.

The Vibe: What Houses and Condos Are Doing Right Now

Let's split this up, because houses and condos are telling two pretty different stories in our neighbourhood.

Houses

If you've been watching the "For Sale" signs on the streets around South Jubilee, here's what's actually happening. Houses are sitting at an average sale price of $1,225,000, with current listings averaging $1,279,000. That gap matters. Buyers are negotiating, and they're winning - homes are selling at about 95.78% of list price. That means on a $1,279,000 listing, a buyer is effectively saving around $54,000 at the table.

• Average sale price: $1,225,000
• Average list price this month: $1,279,000
• Price per square foot: $905
• Average days on market: 14
• Sale-to-list ratio: 95.78%
• Predicted market value: $1,262,002
• 3-month moving average: $1,307,951 (values are trending down)
• Recent value change: -2.85%
• Estimated monthly rent: $4,919
• Rental yield: 4.30%

The growth rank is where we need to be straight with each other. South Jubilee houses rank 12 out of 14 neighbourhoods in Victoria for price growth. That puts us near the bottom of the leaderboard right now. The market is taking a breather, and the numbers back that up. The one bright spot - we rank 2 out of 13 for price, meaning South Jubilee is still one of the most expensive and desirable addresses in the city. Fast to sell too, ranking 4 out of 13 for days on market. People want in. They're just paying less to get there.

Condos

Condos are a different story, and honestly a more encouraging one for us. The average sale price is $435,950, with listings sitting at $375,000 - meaning condos are actually selling above list price on average. The sale-to-list ratio of 98.67% shows buyers are competitive in this segment. We rank 3 out of 14 for days on market, so condo inventory moves fast here.

• Average sale price: $435,950
• Average list price this month: $375,000
• Price per square foot: $480
• Average days on market: 14
• Sale-to-list ratio: 98.67%
• Predicted market value: $2,027,559
• 3-month moving average: $2,045,689
• Recent value change: +1.42%
• Estimated monthly rent: $6,147
• Rental yield: 2.84%

On the neighbourhood leaderboard, South Jubilee condos rank 8 out of 14 for growth - below average, but not at the bottom. For price, we rank 12 out of 14, making condos here among the most affordable in Victoria. If you're a buyer, that's actually a good thing. If you're a seller, pricing sharp is the move.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here's the thing about BC Assessment. That number is calculated using data from July 1st of the prior year. By the time it lands in your mailbox, it can be six to eighteen months out of date. In a market where house values have shifted -2.85% recently and the 3-month trend is pointing down from $1,307,951 to $1,262,002, that old number could be giving you a false sense of security - or costing you real money if you're making decisions based on it.

The HonestDoor Price for South Jubilee sits at $992,400, up 0.97% from the previous period. This is a real-time estimate that reflects what's actually happening in the market today - not what was happening last summer. Think of it as the real-world check against a static government snapshot. Before you list, refinance, or even just figure out where you stand, the HonestDoor Price is the number to start with.

For context, our neighbours in Rockland are sitting at an average HonestDoor Price of $1,855,144, and Fernwood comes in at $1,104,036. South Jubilee is priced competitively within this pocket of Victoria, and that positioning matters when buyers are comparison shopping.

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

If you're considering listing this summer, here's the honest take. The house market in South Jubilee is a buyers' market right now. Homes are selling below list price, values have dipped recently, and our growth rank of 12 out of 14 in Victoria means we're not leading the pack. That does not mean you can't sell well - it means you need to price smart from day one.

Overpricing and chasing the market down is the worst strategy in this environment. With an average of 14 days on market, correctly priced homes are still moving. The buyers are out there. They're just doing their homework, and they have options.

For condo owners, the picture is a bit brighter. Values are up 1.42% recently, and buyers are paying close to asking. If you've been sitting on the fence, this summer could be a reasonable window.

• Check your HonestDoor Price first - not your assessment
• Price at or slightly below the predicted market value of $1,262,002 for houses to attract serious buyers
• Expect negotiation - budget for a sale around 95-96% of your list price on the house side
• Condo sellers have a bit more leverage right now - use it
• South Jubilee still ranks near the top for price in Victoria - that reputation is a selling point

Bottom line - South Jubilee is still one of the most expensive addresses in Victoria. That's a real asset. But the market is telling us to be realistic, price sharp, and move with confidence rather than waiting for values to climb back up on their own.

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.