Oak Bay, British Columbia, Canada
As of August 12, 2026, the median asking price in Oak Bay is $1,799,000, across 123 active MLS® listings.
Those listings have been on the market an average of 67 days.
45 new listings came to market in Oak Bay in the last 30 days.
Asking prices work out to about $871 per square foot, based on the 115 listings that report floor area.
Detached homes in Oak Bay are listed at an average of $3,523,354 across 70 active listings.
Townhouses in Oak Bay are listed at an average of $1,354,374 across 23 active listings.
Condos in Oak Bay are listed at an average of $989,310 across 20 active listings.
Heritage streets, salt air calm
Oak Bay sits just east of downtown Victoria, but it feels like a different tempo altogether—quieter, leafier, and deliberately unhurried. Grand early-20th-century homes, tucked behind hedges and mature Garry oaks, line streets that seem designed for evening strolls. The shoreline is never far: from the sailboats at Oak Bay Marina to the wide sands at Willows Beach, the neighbourhood’s daily rhythm is shaped by tides, dog walkers, and the soft clink of halyards.
There’s a distinctly village-like core along Oak Bay Avenue, where independent cafés, bakeries, and long-running local shops keep the sidewalk lively without tipping into bustle. Residents skew older and established, with many long-time owner-occupiers who care deeply about streetscapes, gardens, and the area’s heritage character—one reason change here tends to be incremental. The result is a place that feels polished but not flashy, with a strong sense of continuity from one block to the next.
Real estate in Oak Bay is defined by scarcity and stability: low-density zoning, limited turnover, and a premium placed on location—especially near the waterfront, schools, and the Avenue. Buyers typically weigh classic character homes, renovated family properties, and occasional luxury builds, while condos and townhomes are more limited and often tightly held. With a Walk Score around 66, errands are convenient near the village core, while many households still rely on a car for cross-town trips—yet the everyday experience remains distinctly walkable-by-choice and anchored in calm coastal living.
Oak Bay’s market is showing steady supply and activity, with 387 active listings and 120 new listings added in the past 30 days. The median asking price is $1,199,900 at an average of $735/sqft, and homes are taking about 65 days on market, suggesting buyers have some room to be selective while well-priced properties can still compete. For investors, the combination of consistent new inventory and moderate selling pace points to a market where disciplined pricing and property quality will matter more than rapid appreciation.
Walk Score 66 · Bike Score 80
The median asking price in Oak Bay is $1,799,000, across 123 active MLS® listings as of August 12, 2026. The average asking price is $2,951,379. These are list prices on homes currently for sale, not sale prices.
There are 123 active MLS® listings in Oak Bay as of August 12, 2026. 45 of them came to market in the last 30 days.
Homes currently listed in Oak Bay have been on the market an average of 67 days as of August 12, 2026. This measures how long active listings have been available so far, not how long they take to sell.
Of the 123 homes currently listed in Oak Bay, 57% detached houses, 19% townhouses, 16% condos, 3% vacant land.
Oak Bay has a Walk Score of 66 out of 100, which Walk Score classifies as Somewhat Walkable — some errands can be accomplished on foot. Bike Score is 80.