Question 1

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

Accepted Answer

South Oak Bay is currently a seller's market with 3.7 months of inventory (MOI). There are 46 active listings and approximately 16 sales in the last 30 days, indicating low inventory favouring sellers. 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 South Oak Bay?

Accepted Answer

The current median home price in South Oak Bay is $1.57M. This is up 3.3% compared to the same period last year. This is based on 264 sales over the past 12 months.

Question 3

How should I price my home in South Oak Bay?

Accepted Answer

Homes in South Oak Bay are currently selling at 97.7% of their list price, with an average of 40 days on market. Homes are selling close to asking price. Pricing at fair market value is recommended for a timely sale. Of recent sales, 17% sold above list price and 70% sold below.

Question 4

How long do homes take to sell in South Oak Bay?

Accepted Answer

Homes in South Oak Bay currently take an average of 40 days to sell, which is at a moderate pace. Pricing, condition, and location all affect individual sale timelines.

Question 5

What is the price per square foot in South Oak Bay?

Accepted Answer

The median price per square foot in South Oak Bay is $776. This metric is useful for comparing value across different property sizes and types.

Question 6

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

Accepted Answer

Homes in South Oak Bay are selling at an average of 105.0% of their BC Assessment value (based on 40 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 South Oak Bay?

Accepted Answer

In the last 30 days, 16 homes sold in South Oak Bay. Over the past 12 months, 264 properties have sold. There are currently 46 active listings on the market.

Question 8

Are real estate sales increasing or decreasing in South Oak Bay?

Accepted Answer

Sales volume in South Oak Bay has been increasing over the last 3 months: Mar 2026 (9 sales), Apr 2026 (12 sales), May 2026 (16 sales). Over the full 12-month period, there were 264 total sales.

Question 9

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

Accepted Answer

There are currently 46 properties for sale in South Oak Bay, including 29 single family homes, 13 condos, 3 townhomes. Listings are updated daily from the MLS® system.

Question 10

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

Accepted Answer

The median single family home price in South Oak Bay is $1.93M (-4.6% year-over-year). The single family market is currently a seller's market with 3 months of inventory. Houses take an average of 40 days to sell. The median price per square foot is $826.

Question 11

What is the condo market like in South Oak Bay?

Accepted Answer

The median condo price in South Oak Bay is $696K (+19.8% year-over-year). The condo market is currently a balanced market with 5.6 months of inventory. Condos take an average of 40 days to sell. The median price per square foot for condos is $641. There were 74 condo sales in the past 12 months.

Question 12

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

Accepted Answer

There have been 264 homes sold in South Oak Bay over the past 12 months, with 16 selling in the last 30 days. The median sold price is $1.57M. Recent median sold prices: Mar 2026: $1.83M, Apr 2026: $1.60M, May 2026: $1.57M. View all recently sold properties in South Oak Bay with photos, sold prices, and days on market on the 8X Real Estate South Oak Bay page.

Question 13

What houses have recently sold in South Oak Bay?

Accepted Answer

182 houses have sold in South Oak Bay over the past 12 months, with 11 selling in the last 30 days. The median sold price for houses is $1.93M (-4.6% year-over-year). Recent median prices: Mar 2026: $1.93M, Apr 2026: $1.67M, May 2026: $1.80M.

Question 14

What condos have recently sold in South Oak Bay?

Accepted Answer

74 condos have sold in South Oak Bay over the past 12 months, with 5 selling in the last 30 days. The median sold price for condos is $696K (+19.8% year-over-year). Recent median prices: Mar 2026: $875K, Apr 2026: $430K, May 2026: $998K.

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