Saanichton real estate market — prices, sold data & trends

Is Saanichton a buyer's or seller's market?

As of the latest data, Saanichton is a seller's market. There are about 2.8 months of inventory — under 4 months typically favours sellers. Around 2.4% of homes sold above asking, and the typical sale closed at 97.5% of list price.

How much does a home cost in Saanichton?

The median sold price for a home in the Saanichton neighbourhood is $1.09M, up 13.9% from a year ago. The average sold price is $1.29M. That works out to roughly $539 per square foot.

Are homes in Saanichton selling over asking?

2.4% of homes that sold in the Saanichton neighbourhood closed above their list price. The typical home sold at 97.5% of asking — just under list. Among the homes that sold over asking, the median premium was +$2.5k over asking.

How long do homes take to sell in Saanichton?

Half of the homes that sold in the Saanichton neighbourhood went under contract within about 33 days — the median days on market. A longer time on market gives buyers more negotiating room.

Are home prices going up or down in Saanichton?

Median sold prices in the Saanichton neighbourhood are up 13.9% year over year, at $1.09M. Currently 21.8% of active listings have cut their asking price at least once, a sign of steady pricing pressure.

Is now a good time to buy or sell in Saanichton?

It depends which side you are on. With about 2.8 months of inventory, the Saanichton neighbourhood favours sellers. Sellers have leverage, with homes moving in around 33 days and 2.4% selling over asking — buyers should be ready to act quickly and expect competition.

What is the best time of year to sell a home in Saanichton?

Across the past two years, sales activity in the Saanichton neighbourhood has been strongest in June and quietest in December. In Greater Victoria the spring market — roughly March through June — is typically the busiest selling season, when buyer demand and prices tend to peak, with activity easing over the winter.

How many homes are for sale in Saanichton?

As of the latest data there are 24 active home listings in the Saanichton neighbourhood. Over the period, 150 new listings came to market and 81 sold, which is about 2.8 months of inventory at the current sales pace.

Do homes in Saanichton sell for more than their assessed value?

The typical home in the Saanichton neighbourhood sold at 103.9% of its BC-assessed value — about 4% above its BC Assessment. Assessments are set once a year and lag the market, so a ratio above 100% is common when prices are rising.

Directional market benchmarks from Repliers MLS, BC Assessment & VREB — not an appraisal or personalized advice.