Elk Lake residential real estate market — Jun 2026

Is Elk Lake a buyer's or seller's market?

As of the latest data, Elk Lake is a seller's market. There are about 0.0 months of inventory — under 4 months typically favours sellers. Around 50.0% of homes sold above asking, and the typical sale closed at 99.4% of list price.

How much does a home cost in Elk Lake?

The median sold price for a home in the Elk Lake neighbourhood is $1.63M. The average sold price is $1.63M. That works out to roughly $669 per square foot.

Are homes in Elk Lake selling over asking?

50.0% of homes that sold in the Elk Lake neighbourhood closed above their list price. The typical home sold at 99.4% of asking — just under list. Among the homes that sold over asking, the median premium was +$10k over asking.

How long do homes take to sell in Elk Lake?

Half of the homes that sold in the Elk Lake neighbourhood went under contract within about 15 days — the median days on market. That is a moderate pace.

Is now a good time to buy or sell in Elk Lake?

It depends which side you are on. With about 0.0 months of inventory, the Elk Lake neighbourhood favours sellers. Sellers have leverage, with homes moving in around 15 days and 50.0% 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 Elk Lake?

Across the past two years, sales activity in the Elk Lake 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 Elk Lake?

As of the latest data there are 1 active home listings in the Elk Lake neighbourhood. Over the period, 1 new listings came to market and 5 sold, which is about 0.0 months of inventory at the current sales pace.

Do homes in Elk Lake sell for more than their assessed value?

The typical home in the Elk Lake neighbourhood sold at 124.9% of its BC-assessed value — about 25% 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.