North Oak Bay residential real estate market — Jun 2026

How much does a home cost in North Oak Bay?

The median sold price for a home in the North Oak Bay neighbourhood is $1.5M, up 9.0% from a year ago. The average sold price is $1.56M. That works out to roughly $618 per square foot.

Are homes in North Oak Bay selling over asking?

20.8% of homes that sold in the North Oak Bay neighbourhood closed above their list price. The typical home sold at 96.9% 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 North Oak Bay?

Half of the homes that sold in the North Oak Bay neighbourhood went under contract within about 24 days — the median days on market. That is a moderate pace.

Are home prices going up or down in North Oak Bay?

Median sold prices in the North Oak Bay neighbourhood are up 9.0% year over year, at $1.5M. Currently 19.5% of active listings have cut their asking price at least once, a sign of steady pricing pressure.

What is the best time of year to sell a home in North Oak Bay?

Across the past two years, sales activity in the North Oak Bay neighbourhood has been strongest in April and quietest in May. 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.

Do homes in North Oak Bay sell for more than their assessed value?

The typical home in the North Oak Bay neighbourhood sold at 104.1% 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.