Home values in Saanich, British Columbia
Modeled estimates · market notes as of October 19, 2026
On our model, a typical two-storey detached home of 2,000 sq ft in Saanich is worth about $1,170,000, which puts the city 17th of the 60 largest Canadian cities on this site by that measure.
A 900 sq ft condo comes to about $542,000 (16th of 54).
Size matters less than people expect: the price per square foot falls from about $718 for a 1,200 sq ft detached home to about $497 for a 3,000 sq ft one, because each extra square foot adds less value than the one before.
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Detached homes in Saanich: one storey vs two
| Floor area | One storey | Two storeys |
|---|---|---|
| 1,200 sq ft | $921,000 | $861,000 |
| 1,600 sq ft | $1,095,000 | $1,023,000 |
| 2,000 sq ft | $1,252,000 | $1,170,000 |
| 2,500 sq ft | $1,431,000 | $1,338,000 |
| 3,000 sq ft | $1,597,000 | $1,492,000 |
Bungalows and other one-storey homes are modeled at about 7% above two-storey homes of the same floor area. Our data has no storey field, so this is an adjustment based on how the market usually prices them, not an observed price in Saanich.
We show no semi-detached prices for Saanich: the data holds too few comparable semi-detached homes there for a reliable figure.
Condo apartments in Saanich
| Floor area | Estimate | Range |
|---|---|---|
| 500 sq ft | $319,000 | $303,000 – $335,000 |
| 700 sq ft | $432,000 | $411,000 – $454,000 |
| 900 sq ft | $542,000 | $515,000 – $569,000 |
| 1,100 sq ft | $649,000 | $617,000 – $682,000 |
| 1,400 sq ft | $806,000 | $766,000 – $847,000 |
How these numbers are built
The starting point is Statistics Canada’s 2024 property assessment data for Saanich, which covers about 21,065 comparable detached homes. Assessed values trail market prices, so each one is raised to a market value using the CREA MLS® Home Price Index for the same region and property type (latest reading: July 2026). Size is applied with the same curve as our calculator, so a bigger home costs more in total but less per square foot.
These are modeled estimates for an average home of its type, not appraisals, sale prices or listings. The range on each line is 5% either side. Storeys are an adjustment, as explained above. Real homes differ with the street, lot, condition and renovations.
Market trends: Greater Victoria (Victoria Real Estate Board), August 2026
- Activity in August 2026: 591 sales (up 12.6% from a year earlier); 3,662 active listings (up 1.7% from a year earlier).[1]
- MLS® HPI benchmark prices by type (change from a year earlier): single-family $1,301,800 (−0.6%); condo apartment $553,600 (+0.9%).[1]
- Single-family sales rose 15.3% and condominium sales 15.1% year over year. The benchmarks are for the Victoria Core area.[1]
- National backdrop: in September 2026 Canadian home sales were down 7.7% year over year, the average price was $666,538 (−1.6%), and the CREA price index was down 3.4% from a year earlier. CREA cut its 2026 sales forecast for the third time this year (−5.2%).[2]
Board figures describe the whole board area, which can be larger than the city, and each source reports a different month. Averages and benchmarks across all homes in a board area, including smaller and older ones, will not match the model figures above for a home of a specific size. Read these notes for the direction of the market, not as the price any one home will sell for.
Sources
- CREA board statistics: Victoria Real Estate Board
- CREA national statistics for September 2026 (Canadian Press, Oct 16, 2026)
Planning a move in Saanich?
- Mortgage calculator: payments and what you can afford
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- Land transfer tax in British Columbia
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For information only. Not an appraisal and not financial or legal advice. Prices are modeled estimates and may differ from what a home actually sells for.