Speedy September Sales for Oakville Market –
Big smiles came quickly for Oakville residents selling their home this September. With the Average Sales Price for each property hiking up another 11%, homes that went to market did not stay on very long. In September 2020, the amount of days on average it took for a sale was 27 – this year, homes found happy new owners in only 18!
Aside from houses, according to the Oakville, Milton and District Real Estate Board, townhomes and condos witnessed an even larger increase in property value, now listed at $975,154 – an almost 16% jump from this time last year. Although the amount of listings fell from 161 to 132, the amount of sales rose by close to 8%.
As the autumn season sets in, the supply of homes for sale remain lower than the demand of potential buyers which may present more competition (or keep many out of the market) for those looking in the Oakville area. If you’re interested in buying, acting now would be your best option as October is trending in a similar direction. Some experts are predicting that demand from first time buyers may help cause an increase in the average residential sale price for all home types between now and the end of the year.
We will continue to closely monitor trends in and around Oakville to provide you with the latest insights and real estate advice. Wishing you and yours all the best this Fall!
A Look at the Number in Oakville:
Here is a snapshot of the Oakville real estate market for the month of September 2021 in comparison to September 2020, taking into account all property types:
