SEPTEMBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

SEPTEMBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

Here is our overview of September 2020 in Oakville real estate:

There was a 47.53% increase in the number of sales in September 2020 vs. September 2019.

The average days on market decreased by 30.56%. This means that properties sold in less time in September 2020 vs. September 2019.

The number of active listings in September 2020 dropped by 33.09% in comparison to the number of listings on the market in September 2019.

The median sale price of an Oakville property jumped to $1,339,500 in September 2020 in comparison to $1,047,500 in September 2019. This is a 27.87% year-over-year increase in the median sale price (taking into account all property types) – WOW!

To summarize, homes sold more quickly and for more money in September 2020 in comparison to September 2019. There were fewer listings on the market in comparison to last year – which undoubtedly contributed to the increase in median sale price. The number of properties sold was also significantly higher, indicating a lot more activity in Oakville’s real estate market in September 2020 in comparison to the same time last year.

As demand continues to be strong with supply relatively limited heading into the fourth quarter, we expect to remain in a Seller’s market throughout the final months of the year and into 2021 as well. If you have any questions or want to chat about the possibility of selling or buying a home this year, call or email anytime!

 

THIS CALLS FOR A CELEBRATION! CONGRATULATIONS, NANCY!

THIS CALLS FOR A CELEBRATION! CONGRATULATIONS, NANCY!

Way to go, Nancy!

A BIG congratulations to Nancy, our property valuations/market forecasting pro, for getting her Broker’s license! Such an amazing accomplishment! If you know Nancy, you know that an ice cream cake lunch is the only acceptable way to celebrate the occasion – so that’s just what we did! 😋

OCTOBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

OCTOBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

Curious about the last month in Oakville real estate? Here is our overview of October market activity.

There was a 41.42% increase in the number of sales in October 2020 vs. October 2019.

The average days on market decreased by 28.13%. This means that properties sold in less time in October 2020 vs. October 2019.

The number of active listings in October 2020 dropped by 36.25% in comparison to the number of listings on the market in October 2019.

The median sale price of an Oakville property jumped to $1,386,817 in October 2020 in comparison to $1,127,454 in October 2019. This is a 23% year-over-year increase in the median sale price (taking into account all property types).

To summarize, September market activity trends have spilled over into October. Homes sold more quickly and for more money in October 2020 in comparison to October 2019. There were fewer listings on the market in comparison to last year – which undoubtedly contributed to the increase in median sale price. The number of properties sold was also significantly higher, indicating a lot more activity in Oakville’s real estate market in October 2020 in comparison to the same time last year.

Inventory is low, and with prices still on the rise, it’s a good time to sell!

A LOOK AT WEST OAKVILLE

A LOOK AT WEST OAKVILLE

Mature tree-lined streets and large lots, split level and bungalow style homes of the 1940s, 50s and 60s, and a budding display of newly-built houses, all within a well-connected and established community that is just a short distance away from Lake Ontario, great schools, downtown shops, restaurants and amenities  – this is the appeal of West Oakville. This Oakville neighbourhood is located south of the QEW, north of Rebecca Street, and in between Dorval Drive on the east and Bronte Road on the west.

REAL ESTATE TRENDS

West Oakville is undergoing rapid changes as more and more properties hit the market and young families and investors alike flock to get into this family-friendly community where property values are on the rise. We are well into the fall market and based on what I am seeing, West Oakville is still trending towards a seller’s market as demand outpaces supply. Well-priced properties, whether original or renovated, do not last on the market for too long in this neighbourhood.

PROPERTY VALUES

Based on sales reported on the Oakville, Milton & District Real Estate Board, the median sale price of a home in West Oakville increased by +17.19% in 2020 from the 2019 median sale price. While some volatility in sale price averages is normal to see from year to year in areas experiencing the type of suburban renewal that we see in West Oakville, this is quite a notable increase in property values compared to previous years.

If you’re a homeowner in West Oakville who is thinking of making a move in the next few years, now is the time while the market is hot! If you’re interested in buying in this neighbourhood, rest assured that your purchase will be protected by the attractive location, large lots sizes and the fact that growing demand is bringing home values up.

COMPLIMENTARY MARKET EVALUATION

Want to know what your property is worth? Contact us for a complimentary market evaluation.

RINA DIRISIO, SALES REPRESENTATIVE
CALL/TEXT: 416-721-3680
EMAIL: RINA@RINA.CA

 

“West Oakville is undergoing rapid changes as more and more properties hit the market and young families and investors alike flock to get into this family-friendly community where property values are on the rise.”

AUTUMN IN OAKVILLE

AUTUMN IN OAKVILLE

What’s your favorite spot for an autumn walk in Oakville?

We love this time of year in Oakville. The Sixteen Mile Creek trail system at Lions Valley Park in West Oak Trails is one of our favorite places to enjoy the beauty of the season. There’s just something magical about it all. Get out there this weekend and take it all in while it lasts!

CLICK TO VISIT OAKVILLE.CA FOR A LIST OF LOCAL RECREATIONAL TRAILS TO EXPLORE.

Rina DiRisio
B.A., SALES REPRESENTATIVE
Lifetime resident of Oakville

Rina DiRisio

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