Cadboro Bay Real Estate | Market Report 2026

Cadboro Bay commands premium Saanich pricing with single-family homes averaging $1.72M (2024 data, range $1.25M-$4.85M, 33 days on market), reflecting the neighbourhood's dual appeal as seaside village and established residential enclave between University of Victoria and Oak Bay's Uplands district. The housing stock spans primarily detached homes (40% pre-1960s character, remainder 1960s-1980s construction) situated along ridgelines capturing ocean views, plus recent townhome developments—properties here attract UVic faculty, professionals, and families seeking complete village lifestyle centered on Cadboro Bay Village's grocery stores, pharmacy, restaurants, Smuggler's Cove Pub, and award-winning 1.5km sandy beach with Gyro Park's iconic sea life sculptures. The neighbourhood's 12 parks spanning 25 hectares provide old-growth forest trails and beach access, while 85% homeownership rate and multi-generational residents (many living here decades) sustain values through stable, stewardship-oriented community character.

Number Of Active Listings

Benchmark Single Family home Price (Q4 - 2025)

$2,850,000

Locals Neighbourhood Snapshot

Cadboro Bay delivers rare self-sufficiency—residents genuinely can (and often do) avoid leaving the village for weeks, accomplishing all daily needs within walkable radius yet still feeling connected to nature through morning beach walks where kids climb the concrete octopus and Cadborosaurus (mythical "Caddy" sea monster) sculpture before school. The neighbourhood's signature characteristic is multi-generational continuity: families who've lived here since the 1970s-80s remember when their homes cost $200K, now watch grandchildren play at the same Gyro Park they explored decades ago, creating "familiar faces everywhere" culture surprising in Greater Victoria's transient market. What distinguishes Cadboro Bay from UVic-adjacent Gordon Head is genuine village identity—Royal Victoria Yacht Club anchors waterfront culture (sitting on historic Songhees Nation archaeological site), Cadboro Bay Village's independent shops foster daily neighbour interactions, and the protected bay's calm waters enable year-round kayaking, paddleboarding, swimming that residents prioritize over downtown Victoria amenities 15 minutes away. Properties along the ridge (Arbutus Road, Penrhyn Street) capturing Juan de Fuca Strait and Olympic Peninsula views command premiums, yet even inland homes benefit from neighbourhood's exceptional blend: quiet residential streets beneath mature trees, complete village amenities eliminating car dependency, beach lifestyle accessible without Oak Bay's premium pricing, all within Saanich's top-ranked school catchments serving families who value outdoor living as much as academic achievement.