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South Oak Bay Real Estate

Waterfront living and heritage charm near the Oak Bay Marina

South Oak Bay

Oak Bay

Waterfront living and heritage charm near the Oak Bay Marina
$1.47M
Median SOLD price
3 month
41
active now
45
avg. day on market
-6.5%
Yoy median price change
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Oak Bay
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South Oak Bay pairs waterfront living and heritage charm near the Oak Bay Marina, with curving streets that draw locals to the seawall walk along Beach Drive. The Victoria Golf Club, McNeill Bay, and the village shops along Oak Bay Avenue are minutes from any front door. South Oak Bay real estate in Oak Bay leans toward early-1900s character homes, Tudor revivals, and a select inventory of waterfront condos near the marina. There are 23 homes for sale at a median of $1.90M. Houses move in 41 days, with prices +0.7% year-over-year. Browse every South Oak Bay listing below with sold data and live market stats. Explore the live South Oak Bay market dashboard for 24-month price trends, inventory and days-on-market.

South Oak Bay

Market Pulse

Live Data
$795
Avg Price per Sqft
+5.1% YoY · May–Jul 2026
45
Avg. Days on Market
+65.2% YoY · May–Jul 2026
107.0%
Avg. Sale-to-Assessed Ratio
Trailing 3 months
95.6%
Avg. Sale-to-List Ratio
Below list · May–Jul 2026

Months of Inventory (MOI)

The time it would take to sell all current listings at the current sales pace. Responsive to filters.

— MOI
Seller's (< 4) Balanced (4-6) Buyer's (> 6)
Current Status
—
From live data
Sales Volume 12 months
22 Sales · Apr 2025
Monthly Sales Trend
12-month rolling · Updated live
22 Sales · Apr 2025
Median Sale Price 12 months
$1.2M Median · Apr 2025
Median Price Trend
12-month rolling · Updated live
$1.2M Median · Apr 2025
market analysis

How the South Oak Bay market is moving

Median sold prices in South Oak Bay are roughly flat compared with a year ago, and homes trade at a median of $779 per square foot. By property type, South Oak Bay sees single-family homes around $1.90M, condos around $702K, townhomes around $1.38M. Recently, 18% of sales closed above the asking price, with homes averaging 41 days on market. Sale prices have been running near 107% of BC Assessment value. Sales activity tends to peak around May and is quietest around December, a useful signal for timing a purchase or sale.

Questions about

South Oak Bay

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Get the inside scoop on off-market listings and upcoming inventory from our local specialist.

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DUSTIN MILLER
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on the market

Active Listings

Browse current properties for sale in this municipality

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.

transaction history

Recently Sold in

South Oak Bay

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.

by property type

South Oak Bay homes by type

South Oak Bay Houses for Sale

23 for sale
median $1.90M · +0.7% YoY

Browse 23 South Oak Bay houses for sale →South Oak Bay houses sold prices & stats →

South Oak Bay Condos for Sale

14 for sale
median $702K · +27.7% YoY

Browse 14 South Oak Bay condos for sale →South Oak Bay condos sold prices & stats →

South Oak Bay Townhomes for Sale

4 for sale
median $1.38M

Browse 4 South Oak Bay townhomes for sale →South Oak Bay townhomes sold prices & stats →
listings

South Oak Bay homes for sale & sold prices

The 10 most recent home sales in South Oak Bay had a median sold price of $1,925,000. Sold prices appear once registered with BC Assessment; the rest are free with an 8X account.

12 homes for sale in South Oak Bay
10 recent sales in South Oak Bay
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More Oak Bay neighbourhoods

EstevanGonzalesHendersonNorth Oak BayUplands
All Oak Bay homes for sale →
questions & answers

South Oak Bay real estate FAQ

Is South Oak Bay a buyer's or seller's market right now?
South Oak Bay is currently a seller's market with 2.9 months of inventory (MOI). There are 41 active listings and approximately 11 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.
What is the median home price in South Oak Bay?
The current median home price in South Oak Bay is $1.56M. This is up 0.5% compared to the same period last year. This is based on 257 sales over the past 12 months.
How should I price my home in South Oak Bay?
Homes in South Oak Bay are currently selling at 97.8% of their list price, with an average of 41 days on market. Homes are selling close to asking price. Pricing at fair market value is recommended for a timely sale. Of recent sales, 18% sold above list price and 68% sold below.
How long do homes take to sell in South Oak Bay?
Homes in South Oak Bay currently take an average of 41 days to sell, which is at a slower pace, giving buyers more time to negotiate. Pricing, condition, and location all affect individual sale timelines.
What is the price per square foot in South Oak Bay?
The median price per square foot in South Oak Bay is $779. This metric is useful for comparing value across different property sizes and types.
Are homes in South Oak Bay selling above or below assessed value?
Homes in South Oak Bay are selling at an average of 107.0% of their BC Assessment value (based on 26 recent sales). Homes are selling above their BC Assessment values, indicating the assessed values have not kept pace with market demand.
How many homes are selling in South Oak Bay?
In the last 30 days, 11 homes sold in South Oak Bay. Over the past 12 months, 257 properties have sold. There are currently 41 active listings on the market.
Are real estate sales increasing or decreasing in South Oak Bay?
Sales volume in South Oak Bay has been decreasing over the last 3 months: May 2026 (16 sales), Jun 2026 (16 sales), Jul 2026 (11 sales). Over the full 12-month period, there were 257 total sales.
How many homes, condos, and townhomes are for sale in South Oak Bay?
There are currently 41 properties for sale in South Oak Bay, including 23 single family homes, 14 condos, 4 townhomes. Listings are updated daily from the MLS® system.
What is the single family home market like in South Oak Bay?
The median single family home price in South Oak Bay is $1.90M (+0.7% year-over-year). The single family market is currently a seller's market with 2.4 months of inventory. Houses take an average of 41 days to sell. The median price per square foot is $825. Browse all 23 houses currently for sale in South Oak Bay to see what is on the market.
What is the condo market like in South Oak Bay?
The median condo price in South Oak Bay is $702K (+27.7% year-over-year). The condo market is currently a seller's market with 3.8 months of inventory. Condos take an average of 43 days to sell. The median price per square foot for condos is $657. There were 72 condo sales in the past 12 months. There are 14 condos for sale in South Oak Bay right now.
What homes have recently sold in South Oak Bay and for how much?
There have been 257 homes sold in South Oak Bay over the past 12 months, with 11 selling in the last 30 days. The median sold price is $1.56M. Recent median sold prices: May 2026: $1.57M, Jun 2026: $1.44M, Jul 2026: $1.36M. Every sale is listed in the recently sold section on this page, with photos, sold prices, and days on market.
What houses have recently sold in South Oak Bay?
177 houses have sold in South Oak Bay over the past 12 months, with 6 selling in the last 30 days. The median sold price for houses is $1.90M (+0.7% year-over-year). Recent median prices: May 2026: $1.80M, Jun 2026: $2.24M, Jul 2026: $1.93M. Individual house sales are listed in the recently sold section on this page.
What condos have recently sold in South Oak Bay?
72 condos have sold in South Oak Bay over the past 12 months, with 4 selling in the last 30 days. The median sold price for condos is $702K (+27.7% year-over-year). Recent median prices: May 2026: $915K, Jun 2026: $818K, Jul 2026: $698K. Individual condo sales are listed in the recently sold section on this page.
41 active listings · Live market data · Last refresh: · Source: Victoria Real Estate Board MLS® via 8X Real Estate
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