Question 1

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

Accepted Answer

Oak Bay is currently a balanced market with 4.7 months of inventory (MOI). There are 126 active listings and approximately 28 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 $1.62M. This is down 1.0% compared to the same period last year. This is based on 312 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 97.3% of their list price, with an average of 38 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 73% 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 38 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 Oak Bay?

Accepted Answer

The median price per square foot in Oak Bay is $760. 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 107.0% of their BC Assessment value (based on 70 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, 28 homes sold in Oak Bay. Over the past 12 months, 312 properties have sold. There are currently 126 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: Apr 2026 (28 sales), May 2026 (28 sales), Jun 2026 (20 sales). Over the full 12-month period, there were 312 total sales.

Question 9

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

Accepted Answer

There are currently 126 properties for sale in Oak Bay, including 83 single family homes, 19 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 $1.75M (-5.8% year-over-year). The single family market is currently a seller's market with 3.7 months of inventory. Houses take an average of 41 days to sell. The median price per square foot is $725.

Question 11

What is the condo market like in Oak Bay?

Accepted Answer

The median condo price in Oak Bay is $737K (+13.1% year-over-year). The condo market is currently a buyer's market with 8.1 months of inventory. Condos take an average of 36 days to sell. The median price per square foot for condos is $778. There were 43 condo sales in the past 12 months.

Question 12

What is the townhome market like in Oak Bay?

Accepted Answer

The median townhome price in Oak Bay is $1.28M (+16.0% year-over-year). The townhome market is currently a buyer's market with 16.5 months of inventory. Townhomes take an average of 10 days to sell. The median price per square foot is $959. There were 13 townhome sales in the past 12 months.

Question 13

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

Accepted Answer

There have been 312 homes sold in Oak Bay over the past 12 months, with 28 selling in the last 30 days. The median sold price is $1.62M. Recent median sold prices: Apr 2026: $1.71M, May 2026: $1.70M, Jun 2026: $1.55M. View all recently sold properties in Oak Bay with photos, sold prices, and days on market on the 8X Real Estate Oak Bay page.

Question 14

What houses have recently sold in Oak Bay?

Accepted Answer

254 houses have sold in Oak Bay over the past 12 months, with 20 selling in the last 30 days. The median sold price for houses is $1.75M (-5.8% year-over-year). Recent median prices: Apr 2026: $1.73M, May 2026: $1.80M, Jun 2026: $2.25M.

Question 15

What condos have recently sold in Oak Bay?

Accepted Answer

43 condos have sold in Oak Bay over the past 12 months, with 5 selling in the last 30 days. The median sold price for condos is $737K (+13.1% year-over-year). Recent median prices: Apr 2026: $430K, May 2026: $998K, Jun 2026: $818K.

Question 16

What townhomes have recently sold in Oak Bay?

Accepted Answer

13 townhomes have sold in Oak Bay over the past 12 months, with 3 selling in the last 30 days. The median sold price for townhomes is $1.28M (+16.0% year-over-year). Recent median prices: May 2026: $1.67M, Jun 2026: $1.32M.

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