In a metropolitan region where single-family homes sell for an average of $1.27 million and condominiums are typically priced in the $600,000s, Greater Victoria’s coastal suburb of Sooke continues to offer home buyers tangible value in a city known for its sky-high housing prices.

 

Regarded as a picturesque town west of Victoria along Highway 14, Sooke is the gateway to the Capital’s west coast oceanfront, popular with outdoor enthusiasts, Youtubers and RVers chasing wilderness getaways and the remoteness of Vancouver Island’s rugged Pacific shoreline.

 

“Sooke is a jewel of Greater Victoria among locals and visitors alike, and despite the acclaim the town receives for its ambiance and setting, its real-estate has long been significantly under-valued compared to other seaside communities on the Island, and especially compared to nearby south Island municipalities that are home to some of the highest housing prices in all of Canada,” says Ryan Cook (see website), a realtor on southern Vancouver Island with RE/MAX Camosun.

 

“I am so often taken aback by the difference in price for Sooke properties that are in every way comparable to listings in any of the Capital Region’s other municipalities. Fundamentally, I believe the primary drivers behind this discrepancy are local perceptions based chiefly on proximity to downtown Victoria, but that may be an outdated metric for appraising real-estate.”

 

Cook, who spent much of his career in Metro Vancouver working in the real-estate development industry, now focuses on Greater Victoria real-estate services for clients transitioning from renting to homeownership, homeowners moving up the housing ladder, and downsizers looking to either establish residency in Greater Victoria or to slim down their housing overhead.

 

Ryan Cook, a Victoria-based real-estate agent, says Sooke represents significant value in an expensive housing market on southern Vancouver Island.  Ryan Cook RE/MAX Camosun

 

On the Lower Mainland and across Canadian markets, a suburb like Sooke is considered par for the course or even a below average commute distance to a central business district, at roughly 30 to 45 kilometers to downtown Victoria (depending on location within Sooke’s 57 square kilometers, not including adjacent communities like Otter Point, Shirley or East Sooke). Outside of peak commute times, downtown Victoria is a 30 to 40 minute drive from Sooke. Langford’s big-box shopping, restaurants and services are just 20 to 25 minutes away.

 

With employment now more accepting of work-from-home and government positions encouraging workers to choose a mode that suits their preference, the notion of commutes driving real-estate choices is being challenged across the nation, and that shift is redefining how Canadians weigh aspects of real-estate decisions that were once top-of-mind, but are now increasingly of less importance. This gives communities like Sooke the upper hand, where the potential for a market repositioning can have a profound upwards impact on prices as seen in multiple Victoria communities in recent years.

 

“Having spent so much time in the Metro Vancouver real-estate market, I can see Sooke as on the precipice of a real-estate renaissance as local attitudes towards sub-markets do not necessarily jive with how newcomers perceive real-estate in Victoria. Take for example the popularity of Esquimalt. It is one of the most sought out real-estate markets on the south Island today, but even 10 years ago, it was viewed by locals as less desirable. It took newcomers to the region to do away with that mindset, and set a new tone for a community that saw suppressed housing prices for several decades because of local attitudes. And before that, there were neighbourhoods even within the City of Victoria like Fernwood, James Bay, Burnside Gorge and Vic West, that had a considerable value gap that has since been bridged,” Cook notes, continuing:

 

“Today, we have a similar scenario with Sooke, where local perceptions differ from those of a newcomer. And I emphasize to all of my first-time homebuyer clients to focus on value when determining their criteria. If a longer commute, or if working from home perhaps with no commute at all but some distance to the city centre, can save you hundreds of thousands of dollars, that may be a smart tradeoff if it means you can buy a house and land compared to only being able to afford a condo in the city.”

 

Cook adds that of particular importance to first-time buyers are money-saving considerations like avoiding property transfer tax. This tax, equal to 1% of the fair market value of a home up to and including $200,000, plus 2% of the fair market value greater than $200,000, can be fully avoided by first-time buyers if a purchase is priced at $830,000 or below, and partially avoided for a purchase price of up to $859,999.

 

“When you’ve worked so hard to secure a down payment, and when every dollar really counts as you near a first-time home purchase, avoiding property transfer tax is a meaningful savings, and what gives Sooke such an edge with this one factor alone, is you can still buy a lot of house and a lot of land for around that price point, whereas only condominiums and a limited supply of townhomes fit that price criteria elsewhere in Greater Victoria. Buyers can also purchase newer homes in Sooke, on average, whereas in the city centre, single-family homes in the sub-$1 million price bracket often require substantial renovations and can date to the early 1900s, making upgrades a logistical and financial challenge.”

 

First-time buyers can also leverage a new opportunity as of mid-December of 2024, that allows for the option of a 30-year mortgage amortization on a new-build. This option was introduced by the federal government to allow first-time buyers more financial maneuverability, and nowhere in the Capital Region does a dollar for new-build single-family homes stretch as far as it does in Sooke. Plenty of new-build options are also available for buyers searching for a duplex or a townhome.

 

Downsizers looking to retire in Victoria, Cook says, are motivated by the prospect of banking cash if the opportunity presents itself, but that’s easier said than done when relocating to the Capital.

 

“If you’re selling a regionally high valued home in most Canadian markets, that may allow you to transition mortgage-free into a modest home or a condominium in Greater Victoria, but chances are you may need to adjust your expectations. I remind my clients that homes in Sooke can translate to a lateral move from many Canadian cities, or even a cost savings with money in their pocket. And when you think about it, it’s still the same mild climate as anywhere else in Victoria, it’s still the same region, and you’re still close to all that Victoria has to offer.”

 

Victoria’s central core is saturated with $1.1 million to $1.2 million single-family homes, albeit even in that price range, many homes still date to the fist half of the 20th century or older, and can require substantial improvements much like their less costlier counterparts in the sub-$1 million range.

 

Cook sees comparable properties to homes in the range of $1.1 to $1.2 million priced from $750,000 to $900,000 in Sooke with an average build year of 1999, according to last year's annualized MLS data, which also showed the average single-family home in Sooke sold for 25% below the regional average. The pricing is a steep discount even for newer product, on average, making a tangible difference to affordability. Some homes, especially newer builds, also offer finished secondary suites that can act as mortgage helpers to lower mortgage costs. Duplexes and townhomes are even more affordable, with prices in the $600,000 to $700,000 range regularly on MLS.

 

Wadams Farm, a subdivision comprised of single-family homes and townhomes, is under construction in Sooke's town centre on Wadams Way at Church Road.  Aragon Properties

 

The old adage of ‘drive a little, save a lot’ remains an incentive among listings in Sooke. However, where Sooke outshines its suburban competition when compared to lower priced areas like the Cowichan Valley just north of Greater Victoria and across ‘The Malahat,’ daily all-day BC Transit connectivity via Victoria’s Regional Transit System means residents can depend on public transit from the early AM to late-night to get to work or school. The Cowichan Valley, while recently benefiting from improved transit services to Victoria, requires a higher transit fare for travel to Victoria, and schedule options remain heavily limited as are bus access points. Sooke, though, is already in-store for a transit system expansion within its borders to help bolster in-town transport choice, according to BC Transit, with a significant investment also planned for additional commuter service investments to Langford and Victoria.

 

Although the issue of traffic congestion to and from Sooke has been a headline maker in recent years due to road construction and population growth, the reality of the situation is more nuanced and no longer as dramatic as during the 2024 road work investment.

 

As is the case with any community during AM and PM rush hour periods, Sooke’s highway connection to Victoria’s West Shore and the downtown can get busy, but only at specific times. In the afternoon rush, the highest volume of traffic coincides with school pick-up times. By 5PM, traffic flows much smoother westbound into Sooke, meaning many commuters departing downtown Victoria by 4:30PM are not impacted by the earlier congestion. In the morning, traffic flows smoothly eastbound until it meets typical West Shore traffic in Langford or Colwood, as encountered by residents of all western suburbs commuting to the city centre.

 

As Sooke grows and develops its commercial offerings, the District is committed to building a bypass route along a municipal artery to help support growth and spur investment. Residents are expected to cast a vote in a borrowing referendum in 2026 for a project known as the Throup Road Connector, bridging Phillips Road and Church Road parallel to Highway 14. The project will expand on work undertaken in 2024 along Charters Road between Highway 14 and Throup Road that opened an interim bypass.

 

And the Province has announced multiple upcoming phases of Highway 14 improvements to streamline flows and improve highway safety by adding turn lanes, roundabouts and new controlled intersections in several areas of Sooke, including the town centre and a neighbourhood east of the town centre known as Saseenos. The work will build on a recent $86 million highway expansion and safety investment that added a four-lane passing opportunity for motorists between Connie and Glinz Lake roads, a new park-and-ride at Gillespie Road, and safer separated access to East Sooke via Gillespie Road.

 

“Given the high cost of real-estate in our region, and the demand for affordable housing options especially among first-time buyers and retirees moving to Greater Victoria, I feel Sooke deserves far more attention from buyers than it receives, and there is a good reason for this," Cook said.

 

“One of the key themes to making smart real-estate buying decisions is to balance the needs of today, with the opportunities of tomorrow. If Sooke can make your home buying journey possible, and help save you money in the meantime plus banking equity in lieu of renting, or spending less on a mortgage compared to buying in Saanich or Langford, it’s an option worth exploring. You just never know what looking a little further afield can deliver within your budget and your expectations.”

 

Likened to living on one of the Gulf Islands yet with the luxury of an easy transit connection into Victoria, Sooke’s future as a thriving suburb in one of the most desirable places to live in North America is not only bright, but currently a real opportunity for home buyers who do not mind some distance between their home and the Capital’s urban areas. Sooke’s slower pace of life, its oceanside recreational opportunities and its distinct west coast flavour makes it an amazing place to live, and well worth a buyer’s consideration when planning a home purchase in Greater Victoria. C

 

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