There was a 21.50% decrease in the number of listings on the market in April 2020 (595 active listings) in comparison to April 2019 (758 active listings).There was also a 67.36% decrease in the number of sales in April 2020 (125 sales) in comparison to April 2019 (383 sales).On a positive note, the average sale price in Oakville was 8.25% higher in April 2020 ($1,086,575) compared to April 2019 ($1,003,755).COVID-19 may have delayed sellers and buyers from selling and purchasing real estate in April, as indicated by the lower-than-typical number of active listings and number of sales. However, the 8.25% increase in the average sale price in April 2020 in comparison to April 2019 indicates that overall home prices have not been negatively impacted at this point. Demand for real estate in Oakville is high. We anticipate continued upward pressure on prices in the months to come as demand continues to outpace supply.
