Uplands, Oak Bay - September 2026 Real Estate Report

Uplands, Oak Bay: Your Home Is Worth More Than the City Thinks

If you own a home in Uplands and you have not looked at your HonestDoor Price lately, you are probably sitting on a number that is a lot bigger than what the city has on file. Here is the real picture.

The Vibe: What Is Actually Happening in Our Neighbourhood

Uplands is the most expensive neighbourhood in Oak Bay - full stop. That is not a boast, it is just the data. With 449 properties assessed this year and only 3 transactions recorded in 2026 so far, this is a low-volume, high-value market. Things do not move fast here because they do not need to. When something does sell, it sells at serious money.

The neighbourhood is growing at 0.05% year over year. That is steady, not spectacular. But when your baseline price is this high, even a small move is a big dollar amount.

Houses: Strong Prices, Soft Momentum

Here is what the house numbers are telling us right now.

• Average sale price: $2,575,000
• Average list price this month: $2,675,000
• Price per square foot: $1,186
• Average days on market: 9 days
• Sale-to-list ratio: 96.26% - buyers are paying slightly below asking
• Predicted market value (HonestDoor): $3,618,954
• 3-month moving average: $3,640,064
• Recent value change: -0.87%
• Rental estimate: $10,354 per month
• Rental yield: 3.21%
• Growth rank in Oak Bay: 6 out of 6
• Days-on-market rank in Oak Bay: 2 out of 6
• Price rank in Oak Bay: 1 out of 6

Nine days on market is fast. Faster than nearby Estevan at 11 days. So while buyers are negotiating a small discount off list price, they are not dragging their feet. This is a stable buyers' market - not a crash, just a breather. The predicted value is slightly ahead of Estevan ($3,446,729) and Henderson ($3,342,765), which confirms Uplands holds its premium position in the area.

On the neighbourhood leaderboard, houses here rank dead last for growth (6 out of 6) but sit at the very top for price (1 out of 6). That tells you this market is about holding value at the peak, not chasing fast appreciation.

Condos: The Quiet Outperformer

The condo story in Uplands is actually more interesting right now than the house story.

• Average HonestDoor Price: $1,393,725 - up 2.97% from last period
• Predicted market value: $1,353,500
• 3-month moving average: $1,330,475 - and the trend is climbing
• Recent value change: +4.07%
• Rental estimate: $5,170 per month
• Rental yield: 2.33%
• Growth rank in Oak Bay: 1 out of 6

Condos here rank first for growth out of six comparable neighbourhoods in Oak Bay. That is the top of the leaderboard. The predicted value is rising above the 3-month average, which means momentum is building, not fading. If we own a condo in Uplands right now, that is a genuinely good position to be in.

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

Here is the number that should get your attention. The average assessed value for a house in Uplands is $2,857,967. The average HonestDoor Price is $3,663,819. That is a gap of 28.20% - and $805,852 in real money.

Your BC Assessment is a snapshot taken months in the past. It is not wrong, it is just old. The HonestDoor Price pulls from current sales data, market trends, and real-time comparables to give you what your home is actually worth today - not what a government office calculated last July.

For Uplands homeowners, that gap is not a rounding error. It is the difference between knowing your net worth and guessing at it. The HonestDoor Price is your real-world check on what the market would actually pay right now.

On the short-term rental side, Uplands ranks 2nd in Oak Bay for Airbnb potential at $518 per night for houses and $262 per night for condos. That is a strong income signal for anyone thinking about flexibility in how they use their property.

The So What: Should You Sell This Summer?

If you are thinking about listing this summer, here is the honest read. Uplands houses are selling in 9 days, which is fast for this price range. But buyers are landing deals at about 96 cents on the dollar, so pricing sharp matters. List too high and you give up negotiating ground. Price it right and you move it quickly.

The predicted value for houses has dipped slightly below the 3-month average. That is not a red flag, but it does suggest now is a better time to act than to wait and hope for a rebound. Markets at the top of the price leaderboard do not always get more expensive - they hold, and then they move when conditions shift.

For condo owners, the timing looks even better. Values are trending up, growth ranks first in Oak Bay, and the HonestDoor Price is climbing. If a sale is on your radar, the data is pointing in your direction right now.

Bottom line - Uplands is not a neighbourhood where you guess at your home's value. The spread between assessed and real-world pricing is too wide for that. Pull your HonestDoor Price, know your number, and make a decision based on what the market is actually doing today.

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.