The Village Centre, Saanich - August 2026 Real Estate Report

The Village Centre, Saanich: Your Home Is Worth More Than The City Thinks - Here's The Proof

If you've been glancing at your latest tax assessment and wondering if it actually reflects what your home is worth right now, the short answer is: it doesn't. The average assessed value in The Village Centre sits at $1,763,311 - but the average HonestDoor Price is $1,904,301. That's a $140,990 gap. For most homeowners, that difference isn't a rounding error. It's a renovation, a down payment on a cottage, or a very comfortable retirement top-up.

The Vibe: What's Actually Happening in Our Neighbourhood

Houses - Fast Off the Shelf, But Watch the Trend

Here's the honest picture for houses in The Village Centre right now. The good news first: when a house sells here, it moves fast. We're talking an average of just 5 days on market, which ranks us number 1 in all of Saanich for speed. Buyers are not sleeping on this neighbourhood.

• Average sale price: $1,900,000
• Average list price this month: $1,948,000
• Price per square foot: $645
• Sale-to-list ratio: 97.54% - buyers are paying slightly below asking
• HonestDoor Price: $1,904,301 - up 3.04% from last period
• Price rank in Saanich: 3rd out of 17 - we are near the top of the leaderboard on value

The part we need to talk about honestly: the predicted market value for houses is sitting at $1,819,563, and that number is trending down from the 3-month moving average of $1,853,610. Property values have shifted -3.41% recently, and on the neighbourhood growth leaderboard, we rank 17th out of 17 in Saanich. That means every other comparable neighbourhood in Saanich is outpacing us on growth right now. The market here isn't crashing - it's taking a breather - but sellers should be paying attention.

On the rental side, if you're holding a house here as an investment, the estimated rent is $6,308 per month with a rental yield of 3.91%. And if short-term rentals are on your radar, the Airbnb rank for houses in Saanich is 2nd - strong demand for nightly stays in our area.

Condos - Premium Prices, But Momentum Is Slipping

Condos in The Village Centre are in a different league price-wise. The average HonestDoor Price for condos here is $2,267,524 - which makes us the most expensive condo market in Saanich by a wide margin. For context, nearby neighbourhoods like The Village average $552,912 and Queenswood comes in at $548,067. We are not in the same conversation as our neighbours when it comes to condo pricing.

• Average HonestDoor Price (condos): $2,267,524
• Predicted market value: $2,350,164
• 3-month moving average: $2,474,615 - values are declining from that peak
• Recent value change: -6.60%
• Estimated rent: $7,386 per month
• Rental yield: 2.33%
• Airbnb rank in Saanich: 1st - top of the leaderboard for short-term rental demand

The HonestDoor Price for condos has also dipped 3.52% from the previous period. Growth ranks 17th out of 17 in Saanich - same as houses. The condo segment here is premium-priced but losing momentum. If you own a condo in The Village Centre, now is the time to get a clear-eyed read on where your value actually stands.

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

Your city assessment was calculated using data that is already months old by the time it lands in your mailbox. It does not adjust for what sold last week, what buyers are offering today, or how the market has shifted since the snapshot was taken. It is a static number in a moving market.

The HonestDoor Price is updated in real time. For houses in The Village Centre, it is currently $1,904,301 - that is 8% higher than the average assessed value of $1,763,311. That gap is not a glitch. It is the difference between what the government recorded and what the market is actually doing. If you are making any financial decision - refinancing, selling, estate planning, or just benchmarking your net worth - the HonestDoor Price is the number you should be starting with, not the one on your tax notice.

The "So What?" - If You Are Thinking About Selling This Summer

Here is the straight talk for anyone considering listing in The Village Centre this summer.

• Buyers are active - 5 days average on market for houses means serious buyers are watching this neighbourhood closely
• You are in the top 3 most expensive neighbourhoods in Saanich - that is a real selling point
• But values are trending down from recent highs, and we sit last on the growth leaderboard right now
• Buyers are negotiating - the 97.54% sale-to-list ratio means you should price sharp, not optimistic
• With only 1 house sold recently, there is very limited comparable data - pricing strategy matters more here than in a high-volume market

The window to sell at peak pricing may be narrowing. If you have been sitting on the fence, the combination of fast days-on-market and a declining value trend suggests that acting sooner rather than later is the smarter play. Pull your HonestDoor Price, compare it to your assessment, and use that gap as your starting point for a real conversation about what your home is worth today - not what it was worth when the city last looked.

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.