Getting to know: Oak Bay

What’s happening with the real estate market in one of our local municipalities

Published May 23, 2026

Kash Burley is a local REALTOR®, a Director of the Victoria Real Estate Board, and has supported many buyers and sellers with their properties in Oak Bay.

When asked about the municipality’s market at the moment, Burley notes, “Oak Bay continues to hold its own as one of the most desirable real estate markets in Greater Victoria. Buyers are drawn to the lifestyle here. The walkability, welcoming shops along ‘The Avenue,’ tree-lined streets, proximity to the ocean, and that gorgeous timeless character you just can’t replicate.”

What does Burley think home buyers and sellers in Oak Bay can expect right now?

“What we’re seeing now is a more balanced pace,” says Burley. “Buyers are being more selective and taking additional time to evaluate their options, and there’s strong interest for homes that show well and meet current market expectations. It’s a healthy market overall, with opportunity on both sides when expectations are aligned.”

What can you expect shopping in the Oak Bay housing market? As of May 21, there are just under 120 residential properties for sale. 78 of these listings are single family homes, with prices starting at around a million dollars up to $28 million. 18 townhomes are listed, all within the one to 1.5 million dollar price range. There are also 18 condos for sale, starting near $400,000 and up to over four million dollars.