Oak Bay Real Estate
Steeped in history, Oak Bay has long been one of Victoria’s most coveted neighbourhoods.
What makes Oak Bay real estate special?
Place a mixture of heritage homes, custom built homes, generational properties, and quiet, tree lined streets on Victoria’s Southeast shoreline and you’ve created Oak Bay. It has long been heralded as one of Victoria’s most attractive areas, and for good reason. Oak Bay is also host to the mildest climate in Greater Victoria.
Charm
The combination of seaside streets, hundred year old houses, and mature trees are unmistakably Oak Bay. Be cautious about staying for too long and being captivated by the storybook charm.
Value
Being one of Victoria’s most coveted neighbourhoods means demand and value retention have always been high. Oak Bay maintains the highest average sale price of any of the core neighbourhoods.
Community
Great neighbourhoods are usually the result of great people. Many families have lived in Oak Bay for generations. Why would they choose to leave the mild climate and welcoming community?
Quintessential Victoria Living
The storybook charm of Oak Bay can be felt in all of its neighbourhoods. It features tight knit communities close to the sea with some of Victoria’s best schools, parks, and amenities.
$1,815,000
Benchmark Price (2024)
Time frame is from Jan 2024 to Dec 2024
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Detached’
Area is ‘Oak Bay’
Results calculated from 186 listings
186
Sales(in 2024)
Time frame is from Jan 2024 to Dec 2024
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Detached’
Area is ‘Oak Bay’
Results calculated from 186 listings
1,226
Sales (Last 5 years)
Time frame is from Jan 2020 to Jul 2025
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Detached’
Area is ‘Oak Bay’
Results calculated from 1,226 listings
421
New listings (in 2022)
Time frame is from Jan 2024 to Dec 2024
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Detached’
Area is ‘Oak Bay’
Results calculated from 421 listings
332
New listings (Year to Date)
Time frame is from Jan 2025 to Aug 2025
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Detached’
Area is ‘Oak Bay’
Results calculated from 332 listings
Recent History
Through the course of the COVID-19 Pandemic, the elevated home prices in Oak Bay also mirrored a pattern felt across Greater Victoria’s neighbourhoods. Healthy demand and dwindling inventory put an immense amount of pressure on prices. From 3 years ago the Benchmark Price of a detached home for sale in Oak Bay is up 55.8%. Even the most expensive of all of Oak Bay’s neighbourhoods in the Uplands has seen the Benchmark price of a detached home rise by 52.2%.
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