A Glance at Oakville’s Real Estate Market
We continue to see unprecedented price growth in Oakville’s real estate market. According to last month’s statistics released by the Oakville, Milton & District Real Estate board, the median sale price of a home in Oakville was $980,000 in September 2016. To compare, in September 2015, the median sale price of an Oakville home was $720,000 – that’s a 36.11% increase!
We attribute this incredible increase in resale home prices to a high demand for real estate in the GTA, limited inventory, ultra-low interest rates, and excellent consumer confidence.
As outlined in this Financial Post article, experts do not expect a market collapse. Rather, they believe that “Canada’s housing market will slow down without any hard landing”. In other words, while price growth may slow down, home prices are expected to remain stable. Read more about it here.