Question 1

Is Oak Bay a buyer's or seller's market right now?

Accepted Answer

Oak Bay is currently a balanced market with 4.1 months of inventory (MOI). There are 111 active listings and approximately 24 sales in the last 30 days, indicating stable conditions with moderate inventory. A MOI below 4 indicates a seller's market, 4–6 is balanced, and above 6 is a buyer's market.

Question 2

What is the median home price in Oak Bay?

Accepted Answer

The current median home price in Oak Bay is $1.57M. This is down 3.0% compared to the same period last year. This is based on 295 sales over the past 12 months.

Question 3

How should I price my home in Oak Bay?

Accepted Answer

Homes in Oak Bay are currently selling at 95.8% of their list price, with an average of 48 days on market. Homes are selling below asking price, typical of a buyer's market. Pricing competitively from the start is important to avoid extended time on market. Of recent sales, 16% sold above list price and 75% sold below.

Question 4

How long do homes take to sell in Oak Bay?

Accepted Answer

Homes in Oak Bay currently take an average of 48 days to sell, which is at a slower pace, giving buyers more time to negotiate. Pricing, condition, and location all affect individual sale timelines.

Question 5

What is the price per square foot in Oak Bay?

Accepted Answer

The median price per square foot in Oak Bay is $749. This metric is useful for comparing value across different property sizes and types.

Question 6

Are homes in Oak Bay selling above or below assessed value?

Accepted Answer

Homes in Oak Bay are selling at an average of 106.0% of their BC Assessment value (based on 52 recent sales). Homes are selling above their BC Assessment values, indicating the assessed values have not kept pace with market demand.

Question 7

How many homes are selling in Oak Bay?

Accepted Answer

In the last 30 days, 24 homes sold in Oak Bay. Over the past 12 months, 295 properties have sold. There are currently 111 active listings on the market.

Question 8

Are real estate sales increasing or decreasing in Oak Bay?

Accepted Answer

Sales volume in Oak Bay has been decreasing over the last 3 months: Jun 2026 (30 sales), Jul 2026 (24 sales), Aug 2026 (3 sales). Over the full 12-month period, there were 295 total sales.

Question 9

How many homes, condos, and townhomes are for sale in Oak Bay?

Accepted Answer

There are currently 111 properties for sale in Oak Bay, including 71 single family homes, 18 condos, 22 townhomes. Listings are updated daily from the MLS® system.

Question 10

What is the single family home market like in Oak Bay?

Accepted Answer

The median single family home price in Oak Bay is $1.74M (-5.8% year-over-year). The single family market is currently a seller's market with 3.5 months of inventory. Houses take an average of 37 days to sell. The median price per square foot is $729. Browse all 71 houses currently for sale in Oak Bay to see what is on the market.

Question 11

What is the condo market like in Oak Bay?

Accepted Answer

The median condo price in Oak Bay is $775K (+20.4% year-over-year). The condo market is currently a balanced market with 4.5 months of inventory. Condos take an average of 92 days to sell. The median price per square foot for condos is $811. There were 39 condo sales in the past 12 months. There are 18 condos for sale in Oak Bay right now.

Question 12

What is the townhome market like in Oak Bay?

Accepted Answer

The median townhome price in Oak Bay is $1.27M. The townhome market is currently a buyer's market with 7.3 months of inventory. Townhomes take an average of 59 days to sell. The median price per square foot is $798. There were 14 townhome sales in the past 12 months. See the 22 townhomes for sale in Oak Bay on the market today.

Question 13

What homes have recently sold in Oak Bay and for how much?

Accepted Answer

There have been 295 homes sold in Oak Bay over the past 12 months, with 24 selling in the last 30 days. The median sold price is $1.57M. Recent median sold prices: Jun 2026: $1.49M, Jul 2026: $1.38M, Aug 2026: $1.40M. Every sale is listed in the recently sold section on this page, with photos, sold prices, and days on market.

Question 14

What houses have recently sold in Oak Bay?

Accepted Answer

240 houses have sold in Oak Bay over the past 12 months, with 18 selling in the last 30 days. The median sold price for houses is $1.74M (-5.8% year-over-year). Recent median prices: Jun 2026: $1.57M, Jul 2026: $1.71M, Aug 2026: $1.49M. Individual house sales are listed in the recently sold section on this page.

Question 15

What condos have recently sold in Oak Bay?

Accepted Answer

39 condos have sold in Oak Bay over the past 12 months, with 4 selling in the last 30 days. The median sold price for condos is $775K (+20.4% year-over-year). Recent median prices: May 2026: $915K, Jun 2026: $655K, Jul 2026: $698K. Individual condo sales are listed in the recently sold section on this page.

Question 16

What townhomes have recently sold in Oak Bay?

Accepted Answer

14 townhomes have sold in Oak Bay over the past 12 months, with 2 selling in the last 30 days. The median sold price for townhomes is $1.27M. Recent median prices: Jun 2026: $1.32M, Jul 2026: $1.27M, Aug 2026: $1.40M. Individual townhome sales are listed in the recently sold section on this page.

Oak Bay Real Estate

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