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10968 Madrona Dr

$2,699,000

Deep Cove

Detached2 bd · 3 ba · 2,232 sqftBuilt 1959$1,209/sqft26 days on market

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About this home

Perched at the water’s edge on a private waterfront lot in Deep Cove, this retreat-like property offers a rare connection to the ocean. With the shoreline just steps away, you’ll feel as though you’re living aboard a boat while enjoying all the comfort and luxury of home. A setting this close to the water simply couldn’t be replicated today, making it an exceptionally rare offering. Meticulously restored from the foundation up with no expense spared, the interior retains the charm of a true Pan Abode while the exterior has been completely rebuilt. Accordion doors on both levels open fully to the deck, seamlessly extending your living space outdoors and inviting the surrounding natural beauty inside to complement the home’s warm, earthy finishings. Thoughtfully designed for year-round enjoyment, the home features an observatory-style study with a retractable roof, in-floor radiant heating, and a heat pump for efficient comfort in every season. (id:65179)

Property details

From the listing's public record.

Lot size

11,326 square feet

Year built

1959

Taxes

$6,315/yr

Zoning

Residential

View

Mountain viewOcean view

Waterfront

Waterfront on ocean

Appliances

WasherRefrigeratorHot TubDishwasherDryer

Heating

Heat PumpHot Water

Cooling

Air Conditioned

Lot

Private settingIrregular lot sizeMarine OrientedMoorage

Price history

4 records

Every recorded listing event for this property — sales, relists, expired or withdrawn listings.

Jun 24, 2026
Listed $2,699,000
Active26 days on marketMLS 1041351
Mar 31, 2021
$1,770,000
Sold81 days on marketMLS 858504
Sep 16, 2013
$475,000
Sold377 days on marketMLS 617464
May 7, 2012
Listed $595,000
Cancelled153 days on marketMLS 605407

How this listing compares

Based on 42 sales in Deep Cove

Median sold

$2,187,500

Avg days on market

46 days

Avg sale-to-list

95.7%

Avg $/sqft

$653

Price per square foot

This home: $1,209/sqft·Area average: $653/sqft

Above area average

Current market in Deep Cove

Active (same type)

Pending

All active listings

Months of supply

3.1

Seller's market — 3.1 months of supply at the current sales pace.

Assessment

From publicly available property records.

Assessed value

$1,844,000

Homes in North Saanich sell at 110.4% of assessed value on average.

Based on 163 recent sales.

Local price trend

How Deep Cove has moved over the last decade.

Local price index (normalized) · 116 months

Recent nearby sales

12 sales

845 Downey Rd
$3,600,000
7 bd · 10 ba · 29,179 sqft · $123/sqft · 54 days on market
Sold Jul 17, 2026 · 96% of list
598 Meldram Dr
$2,300,000
3 bd · 2 ba · 2,681 sqft · $858/sqft · 10 days on market
Sold Jul 17, 2026 · 93.9% of list
10965 Madrona Dr
$1,480,000
3 bd · 3 ba · 2,103 sqft · $704/sqft · 39 days on market
Sold Jul 15, 2026 · 99% of list
10851 Deep Cove Rd
$1,190,000
3 bd · 2 ba · 1,806 sqft · $659/sqft · 22 days on market
Sold Jul 10, 2026 · 95.3% of list
10720 Derrick Rd
$1,450,000
5 bd · 3 ba · 4,685 sqft · $309/sqft · 33 days on market
Sold Jul 6, 2026 · 90.9% of list
10807 Madrona Dr
$1,750,000
3 bd · 3 ba · 4,158 sqft · $421/sqft · 53 days on market
Sold Jun 29, 2026 · 97.3% of list
11321 Chalet Rd
$2,300,000
5 bd · 3 ba · 4,450 sqft · $517/sqft · 26 days on market
Sold Jun 29, 2026 · 95.9% of list
1021 Tatlow Rd
$1,260,000
5 bd · 4 ba · 3,881 sqft · $325/sqft · 3 days on market
Sold Jun 25, 2026 · 98.8% of list
812 Woodcreek Dr
$1,345,000
3 bd · 3 ba · 3,225 sqft · $417/sqft · 8 days on market
Sold Jun 15, 2026 · 99.6% of list
564 Towner Rd
$2,225,000
5 bd · 5 ba · 7,676 sqft · $290/sqft · 11 days on market
Sold May 29, 2026 · 89.9% of list
605 Towner Park Rd
$6,000,000
5 bd · 5 ba · 7,193 sqft · $834/sqft · 230 days on market
Sold May 5, 2026 · 95.3% of list
10630 Derrick Rd
$2,998,000
3 bd · 3 ba · 2,828 sqft · $1,060/sqft · 22 days on market
Sold May 1, 2026 · 100% of list

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Purchase price

Down payment

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Amortization (years)

Newly built / new constructionAdds 5% GST. Eligible for the Newly Built PTT exemption (≤ $1.1M full, partial to $1.15M).First-time home buyerEligible for the First-Time PTT exemption (≤ $835K full, partial to $860K). Only one exemption can apply per purchase.

Estimate

Monthly mortgage

—

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Loan amount

$2,699,000 − $539,800

$2,159,200

Down payment

20.0%

$539,800

Property Transfer Tax

$58,970

Legal / closing (est.)

$1,500

Cash to close

$600,270

Down payment + PTT + GST + legal estimate.

Estimates only, based on current BC rates and thresholds. Not tax, legal, or financial advice. Property transfer tax exemptions have eligibility requirements — confirm with a lawyer or notary. GST rebates on new construction are not modelled here. Mortgage payment uses Canadian semi-annual compounding and excludes property tax, home insurance, and CMHC mortgage insurance.

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10968 Madrona Dr

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About this home

Property details

Price history

How this listing compares

Current market in Deep Cove

Assessment

Local price trend

Recent nearby sales

What would this home cost?

Want a real rate?

More on this listing

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