Tillicum, Saanich - September 2026 Real Estate Report

Tillicum, Saanich Real Talk: Your Home Is Worth More Than the City Thinks

If you own a home in Tillicum and you're still looking at your BC Assessment notice to figure out what your place is worth, stop. That number is already stale. The real story is a bit more interesting - and for most of us here, it's actually good news.

The Vibe: Houses vs. Condos in Tillicum

Houses

If you've been watching the "For Sale" signs in Tillicum, here's what's actually happening. We're in a stable buyers' market right now. Houses are selling at about 97.56% of list price, which means buyers have a little room to negotiate - but not a lot. The average sale price is sitting at $843,196, and homes are taking around 32 days to sell. That's not lightning fast, but it's not a fire sale either.

• Average sale price: $843,196
• Average list price this month: $865,950
• Price per square foot: $694
• Sale-to-list ratio: 97.56%
• Average days on market: 32
• Properties sold in 2026: 4

The predicted market value for houses sits at $1,027,895, though that number has dipped slightly - down 0.51% recently and tracking below the 3-month average of $1,038,078. Think of it as the market taking a breather. On the neighbourhood leaderboard, Tillicum houses rank 8 out of 17 for growth in Saanich - solidly middle of the pack. For price, we rank 16 out of 17, which means we're one of the more affordable options in the district. That's a real draw for buyers who've been priced out elsewhere.

Rental income potential is strong here too. Estimated rent comes in at $4,278 per month, with a rental yield of 4.67%. For anyone thinking about holding the property as an investment, that's a decent return.

Condos

The condo picture in Tillicum is a different story - and honestly, a bit of a head-scratcher worth paying attention to. Only 1 condo sold in Tillicum so far in 2026, and it moved at $472,500, which is essentially in line with the average list price of $475,000. Buyers paid 99.47% of list - so almost full price. Condos are sitting on the market for about 39 days on average.

• Average sale price: $472,500
• Average list price this month: $475,000
• Price per square foot: $530
• Sale-to-list ratio: 99.47%
• Average days on market: 39
• Properties sold in 2026: 1

On the neighbourhood leaderboard, Tillicum condos rank 17 out of 17 for growth in Saanich right now - that's the bottom spot. Values have shifted down 5.71% recently, and the predicted value of $1,522,780 is below the 3-month average of $1,620,299. The market is cooling in this category. That said, rental income potential is strong at $4,645 per month, and the Airbnb rank is 4 out of all Saanich neighbourhoods - meaning short-term rental demand here is genuinely high.

The Secret Sauce: Why Your HonestDoor Price Matters Right Now

Here's the thing about BC Assessment. It values your property as of July 1 of the previous year. By the time that notice lands in your mailbox, the number is already months out of date. Markets move. Tillicum has moved.

For houses, the average assessed value in Tillicum is $1,004,016. The average HonestDoor Price is $1,064,773 - that's 6.05% higher than what the city says your home is worth, and it's gone up 1.24% from the previous period. That gap represents real money. We're talking roughly $60,000 sitting between what the government thinks your house is worth and what the market actually reflects today.

For condos, the gap is even more dramatic. The average assessed value is $423,336. The HonestDoor Price is $1,608,303. That's a 279.91% difference. Now, some of that reflects the complexity of how condos are assessed versus how the market prices them - but the point stands. If you're making any financial decision based on your assessment alone, you're working with incomplete information.

The HonestDoor Price is updated in real time. It's the real-world check against a static government number. Check yours before you do anything else.

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

For house sellers, the window is open but it requires smart pricing. Buyers are active - 2,257 properties were assessed this year, and Tillicum ranks 2nd in Saanich for total transactions. That means eyes are on this neighbourhood. Price your home close to market value and you'll likely see offers. Push too high and you'll sit. The 97.56% sale-to-list ratio tells you buyers are informed and not overpaying.

Your HonestDoor Price of $1,064,773 for houses gives you a credible starting point for that conversation with your agent. It's not the assessed value. It's not a guess. It's a live estimate based on what's actually happening in the market right now.

For condo owners, be honest with yourself. Values have slipped recently and the growth rank is at the bottom of the Saanich leaderboard right now. That doesn't mean you can't sell - it means you need to price with precision. The rental yield of 3.29% and strong Airbnb demand (ranked 4th in Saanich) could make your unit attractive to investors if you position it right.

Bottom line - Tillicum is affordable relative to most of Saanich, rental demand is real, and your home is almost certainly worth more than your last assessment says. Pull your HonestDoor Price, have an honest conversation about timing, and go from there.

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.