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 3.3 months of inventory (MOI). There are 46 active listings and approximately 15 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 0.4% compared to the same period last year. This is based on 262 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 97.8% of their list price, with an average of 42 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 69% 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 42 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 South Oak Bay?

Accepted Answer

The median price per square foot in South Oak Bay is $771. 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 101.0% of their BC Assessment value (based on 29 recent sales). Homes are selling close to their BC Assessment values, suggesting assessments are reasonably aligned with market conditions.

Question 7

How many homes are selling in South Oak Bay?

Accepted Answer

In the last 30 days, 15 homes sold in South Oak Bay. Over the past 12 months, 262 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 decreasing over the last 3 months: Jun 2026 (16 sales), Jul 2026 (11 sales), Aug 2026 (15 sales). Over the full 12-month period, there were 262 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 31 single family homes, 12 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 $1.89M (+3.8% year-over-year). The single family market is currently a seller's market with 3.6 months of inventory. Houses take an average of 40 days to sell. The median price per square foot is $818. Browse all 31 houses currently for sale in South Oak Bay to see what is on the market.

Question 11

What is the condo market like in South Oak Bay?

Accepted Answer

The median condo price in South Oak Bay is $683K (+26.9% year-over-year). The condo market is currently a seller's market with 3 months of inventory. Condos take an average of 47 days to sell. The median price per square foot for condos is $644. There were 72 condo sales in the past 12 months. There are 12 condos for sale in South Oak Bay right now.

Question 12

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

Accepted Answer

There have been 262 homes sold in South Oak Bay over the past 12 months, with 15 selling in the last 30 days. The median sold price is $1.57M. Recent median sold prices: Jun 2026: $1.44M, Jul 2026: $1.36M, Aug 2026: $1.55M. Every sale is listed in the recently sold section on this page, with photos, sold prices, and days on market.

Question 13

What houses have recently sold in South Oak Bay?

Accepted Answer

181 houses have sold in South Oak Bay over the past 12 months, with 8 selling in the last 30 days. The median sold price for houses is $1.89M (+3.8% year-over-year). Recent median prices: Jun 2026: $2.24M, Jul 2026: $1.93M, Aug 2026: $2.05M. Individual house sales are listed in the recently sold section on this page.

Question 14

What condos have recently sold in South Oak Bay?

Accepted Answer

72 condos have sold in South Oak Bay over the past 12 months, with 6 selling in the last 30 days. The median sold price for condos is $683K (+26.9% year-over-year). Recent median prices: Jun 2026: $818K, Jul 2026: $698K, Aug 2026: $618K. Individual condo sales are listed in the recently sold section on this page.

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