2018 Oak Bay Year End Real Estate Market Report

2018 was saw a new record set for average home sales in Oak Bay. Overall the average sale price for all of Oak Bay rose to $1,573,997.00, up approximately 8% over 2017 which was $1,462,200.00. There was a total of approximately 164 total sales which was down from 236 in 2017. These sales cover all VREB areas including Uplands, North Oak Bay, South Oak Bay, Estevan, Henderson and Gonzales. The sales price over assessed value dropped to 13% above assessed value compared to 22% above assessed in 2017. The breakdown of sales of the different map areas follows starting with the Uplands.


Uplands Sales Statistics

Sales in the Uplands in 2018 were:  19 compared to 26 in 2017

Average sales price was up 5% to $2,791,000.00 over $2,658,167.00 in 2017

Sales price was down to 1% below assessed value in 2018 compared to a sales ratio of 27% over assessed in 2017

Average Days on market(DOM): 2018-66, 2017-42

Average Home size was 3997 Square feet and lot size was 24,143 square feet or .55 of an acre.

 

Uplands all Homes-10 year


Uplands Homes average price percentage increase from 2009-2018


South Oak Bay Sales Statistics

Sales in South Oak Bay in 2018 were: 71 compared to 86 in 2017

Average sales price was up 11% to $1,594,043.00 over $1,430,272.00 in 2017

Sales price was up to 20% above assessed value in 2018 compared to a sales price ratio of 24% over assessed in 2017

Average Days on market(DOM): 2018-25, 2017-30

Average Home size was 2482 Square feet and lot size was 8459 square feet or .19 of an acre.


One Storey South Oak Bay-10 year


South Oak Bay Single Storey average percentage increase from 2009-2018


South Oak Bay Multi Storey Homes-10 year


South Oak Bay Multi Storey average percentage increase from 2009-2018


North Oak Bay Sales Statistics

Sales in North Oak Bay in 2018 were: 16 compared to 34 in 2017

Average sales price was up 20% to $1,401,324.00 over $1,170,441.00 in 2017

Sales price was up to 11% above assessed value in 2018 compared to a sales price ratio of 21% over assessed in 2017

Average Days on market(DOM): 2018-46, 2017-23

Average Home size was 2578 Square feet and lot size was 9238 square feet or .21 of an acre.

One Storey Homes North Oak Bay-10 year


North Oak Bay Single Storey average price percentage increase from 2009-2018


North Oak Bay Multi Storey Homes-10 year


North Oak Bay Multi Storey average percentage increase from 2009-2018


Estevan Sales Statistics

Sales in Estevan in 2018 were: 16 compared to 26 in 2017

Average sales price was up 20% to $1,401,324.00 over $1,170,441.00 in 2017

Sales price was up to 11% above assessed value in 2018 compared to a sales price ratio of 21% over assessed in 2017

Average Days on market(DOM): 2018-46, 2017-23

Average Home size was 2578 Square feet and lot size was 9238 square feet or .21 of an acre.

One Storey Homes Estevan-10 year


Estevan Single Story average price percentage increase from 2009-2018


Estevan Multi Storey Homes-10 year


Estevan Single Multi-Level average price percentage increase from 2009-2018



Henderson Sales Statistics

Sales in Henderson in 2018 were: 45 compared to 54 in 2017

Average sales price was up 4% to $1,175,109.00 over $1,131,633.00 in 2017

Sales price was up to 9% above assessed value in 2018 compared to a sales price ratio of 22% over assessed in 2017

Average Days on market(DOM): 2018-36, 2017-17

Average Home size was 2463 Square feet and lot size was 10013 square feet or .23 of an acre.

One Storey Homes Henderson-10 year



Henderson Single Storey average price percentage increase from 2009-2018


Henderson Multi Storey Homes-10 year

Henderson Multi-Level average price percentage increase from 2009-2018


Gonzales Sales Statistics

Sales in Gonzales in 2018 were: 3 compared to 10 in 2017

Average sales price was down 3% to $1,972,333.00 under $2,035,500.00 in 2017

Sales price was up to 12% above assessed value in 2018 compared to a sales price ratio of 29% over assessed in 2017

Average Days on market(DOM): 2018-39, 2017-47

Average Home size was 2871 square feet and lot size was 13970 square feet or .32 of an acre.

One Storey Homes Gonzales-10 year


Gonzales Single Storey average price percentage increase from 2009-2018


Gonzales Multi Storey Homes-10 year

Gonzales Multi-Level average price percentage increase from 2009-2018