It’s Beginning To Look A Lot Like… Normal! –
As 2021 wraps up, life may be returning to a post-pandemic normal and although Oakville’s housing market still shows signs of its impact, there’s a lot to be excited for. With Average Prices up 22% from this time last year and a recent steadiness of listings and sales, the volatility of the market seems to have settled so homeowners looking to sell this holiday season are understandably full of cheer.
The main reason for the success in sales is the unexpected low supply of inventory which has properties getting snapped up faster than ever. The total number of new listings saw a decrease of 36% for Single Family homes and 34% for Townhouses and Condos compared to last year. For those hoping to buy – whether it’s moving the family to a new house or finding an office space, there are still options available but acting quickly is in your best interest. Due to the competition on bids and spike in prices, a major trend we’re seeing are first-time home buyers reaching out to their families to help them complete down-payments and co-sign for purchases. Stay tuned for more market insights with Oakville’s hardest working team!
– Rina DiRisio
A Look in the Numbers in Oakville:
Here is a snapshot of the Oakville real estate market for the month of November 2021 in comparison to November 2020, taking into account all property types: