Rich in history and a quiet, close-knit community, Oak Bay is one of the oldest and most established communities in Western Canada. Executive estate homes blend stately, turn-of-the-century construction with West Coast modern remodels and rebuilds—all of which stand alongside wide, tree-lined streets.
Shopping villages feature high-end shops, exemplary cuisine, and incredible art, all while maintaining the quaint feel of British high street. These stunning homes and businesses are nestled on the eastern coastline of the southern tip of Vancouver Island, and despite being mere kilometres away from Victoria, are even closer in proximity to some of the best shorelines and white sand beaches in the region.
Oceanfront views grandly extend up the Juan de Fuca Strait, and residents enjoy the slower, luxurious pace of life the community affords.
Retired professionals, artists, and individuals with a preference for a quieter life surrounded by incredible beauty: of the homes, the neighbourhoods, and of course, the backdrop. They enjoy walks on the sandy beaches, tending to their meticulous gardens, and visiting the stores in the little shopping districts.
Driving under tree canopies and past historic and modern homes, as you revel in the choice between visiting a white sandy beach or a cozy café for a cup of tea.
When your close-knit community and the historic neighbourhood has everything you could possibly want, do you really need to leave?
Beautifully curated, historic lots are highlighted by turn-of-the-century houses in Arts & Crafts and Faux Tudor styles. Additionally, many of the older homes have been renovated or remodeled to reflect the West Coast modern style.
Western Canada's most established luxury municipality. Oak Bay combines old-world estate living with pristine beaches and village charm. Here's what the market data reveals.
Turn-of-the-century Arts & Crafts and Faux Tudor homes on expansive lots. Tree-lined streets, mature gardens, and architectural preservation create a timeless, established aesthetic.
White sand beaches, oceanfront trails, and proximity to sailing clubs. Gonzales Bay, Cattle Point, and Beach Drive offer daily coastal access unmatched in Greater Victoria.
Oak Bay Village and Estevan Village offer boutique shopping, cafés, and restaurants. Walkable, close-knit neighbourhoods with independent businesses create a distinct local community feel.
Oak Bay High, Glenlyon Norfolk private school, and highly-ranked elementary schools. Families prioritise Oak Bay for education quality, resulting in strong demand and stable property values.
Victoria Golf Club (est. 1893), Oak Bay Recreation Centre, parks, and tennis clubs. Active lifestyle with upscale amenities and community programming integrated into neighbourhood life.
Heritage conservation and large lot zoning restrict new development. Oak Bay maintains neighbourhood character through planning policies, supporting long-term value appreciation in established areas.
Median square footage for single-family homes sold between $950,000 - $1,050,000
Source: Victoria Real Estate Board MLS®, Last 12 months (2025)
For $1 million in Oak Bay, you're buying land value, not livable house—expect teardowns or major renovations (1,389 sq ft, 1 bath). Compare to Langford's 2,133 sq ft move-in ready at the same price. But Oak Bay buyers prioritise 6,000 sq ft lots in Canada's most prestigious address, proximity to Willows Beach, top schools, and heritage neighbourhood character. You're paying for location and future build potential, not existing structure.
Our buyer agency service includes heritage home evaluation, renovation assessment, school catchment analysis, and negotiation strategy for Oak Bay's competitive market.
Learn about buyer representationOak Bay's prestige market requires sophisticated positioning. Professional MLS marketing with heritage home expertise, premium photography, and strategic pricing captures qualified buyers.
Learn about our marketingOak Bay represents Western Canada's most established luxury municipality. From Uplands estates to Estevan Village character homes, Oak Bay is Greater Victoria's premier address for a reason.
Browse Oak Bay Listings →Based on 275 recent transactions, here's what different budgets get you in Oak Bay. The data shows that Oak Bay commands a premium—but buyers receive heritage character, estate living, and Canada's most prestigious address.
Data based on 36 condo, 8 townhouse, and 231 single-family sales | January 2025 - January 2026
| PRICE RANGE | VOLUME | MEDIAN SIZE | $/SQ FT | TYPICAL CONFIGURATION |
|---|---|---|---|---|
| Under $1.2M | 24 sales (10.4%) |
1,496 sq ft | $691/sq ft | 3 bed / 2 bath Entry-level, teardown potential |
| $1.2M - $1.5M | 44 sales (19.0%) |
2,208 sq ft | $619/sq ft | 3 bed / 2 bath Character homes, Henderson |
| $1.5M - $2M | 75 sales (32.5%) |
2,380 sq ft | $723/sq ft | 4 bed / 3 bath Updated heritage, South Oak Bay |
| $2M - $2.5M | 31 sales (13.4%) |
2,868 sq ft | $785/sq ft | 4 bed / 4 bath Premium renovations, Estevan |
| Over $2.5M | 57 sales (24.7%) |
3,665 sq ft | $866/sq ft | 4 bed / 4 bath Uplands estates, waterfront |
| PRICE RANGE | VOLUME | MEDIAN SIZE | $/SQ FT | TYPICAL CONFIGURATION |
|---|---|---|---|---|
| Under $500K | 6 sales (16.7%) |
746 sq ft | $583/sq ft | 1 bed / 1 bath Entry-level, Oak Bay Ave |
| $500K - $700K | 12 sales (33.3%) |
1,059 sq ft | $614/sq ft | 2 bed / 2 bath Modern buildings, good layouts |
| $700K - $900K | 10 sales (27.8%) |
1,262 sq ft | $602/sq ft | 2 bed / 2 bath Larger units, near village |
| $900K - $1.2M | 4 sales (11.1%) |
1,216 sq ft | $781/sq ft | 2 bed / 2 bath Premium buildings, views |
| Over $1.2M | 4 sales (11.1%) |
1,586 sq ft | $930/sq ft | 2 bed / 2 bath Waterfront, Beach Drive |
Single-family homes represent 84% of Oak Bay sales. This reflects estate character and large-lot zoning. Heritage conservation and neighbourhood preservation maintain this low-density, prestige residential character.
Over $2.5M+ represents 24.7% of sales. Uplands drives the ultra-luxury segment with estates averaging 3,665 sq ft at $866/sq ft. Golf course proximity and ocean views create Western Canada's premier residential address.
Single-family homes sell in 26 days median, condos in 20 days. Well-priced heritage homes in Estevan and South Oak Bay often receive multiple offers. Oak Bay's limited inventory creates competitive demand.
Oak Bay commands $687/sq ft for homes built in the 1950s median. Buyers pay premium for Arts & Crafts architecture, mature gardens, tree-lined streets, and established neighbourhood character over modern construction.
Only 36 condo sales (13% of market) reflect Oak Bay's low-density zoning. Condos offer entry point at $697,500 median, primarily in South Oak Bay and near Oak Bay Village. Limited new development maintains exclusivity.
Oak Bay High and Glenlyon Norfolk drive family buyer demand. Henderson and South Oak Bay neighbourhoods offer school proximity with heritage character. Educational reputation supports long-term property value stability.
