SUMMER & FALL 2020 REAL ESTATE MARKET TRENDS IN OAKVILLE

SUMMER & FALL 2020 REAL ESTATE MARKET TRENDS IN OAKVILLE

The real estate market this summer was crazy busy – the busiest I have seen in a long time!

Foreign buyer interest has slowed down significantly. Most buyers these days are local. They already live in or nearby communities they are interested in and are simply looking to find that perfect home that checks off all their needs and wants. These buyers are working with local real estate agents who are trusted advisors and have knowledge and understanding of local neighbourhoods.

With many people still working from home and homeschooling their kids, there is a big move towards renovating living spaces to suit these new work-from-home lifestyles. Home improvement businesses across the board are overwhelmed with jobs. Outdoor furniture, kids’ playsets, and recreational equipment is in high demand. Garden centres have never been busier. People are investing in things that will make their lives more comfortable at home. Even finding a pet has become difficult – the waitlists for getting a puppy are shockingly long, I hear! Money that would have been spent on vacations and social outings is undoubtedly being spent on the home.

With home prices and the number of sales reaching record highs this summer, there is a definite urgency in the market to sell, buy, and get settled in as soon as possible – especially with the uncertainty of what will happen this fall/winter with Covid-19. Those who were planning on making a move in the next couple of years are doing it now.

As a result, I anticipate a continued steady and strong fall real estate market. If you have been thinking about making a move, there is no better time than now while the market is hot. Timing is an important ingredient to a successful sale or purchase.

Always happy to help answer your real estate questions!

– Rina
Email: rina@rina.ca
Cell: 416-807-4347

“There is a definite urgency in the market to sell, buy, and get settled in as soon as possible. Those who were planning on making a move in the next couple of years are doing it now.”

JULY 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

JULY 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

Snapshot of July 2020 market activity in comparison to July 2019 market activity in Oakville – check it out! The market has recovered faster than anyone could have predicted. Right now, the real estate market is HOT in Oakville. We anticipate continued positive trends for the rest of the year, but as always, we’re keeping a close watch. We’re dedicated to keeping you informed on current market conditions.

Feel free to reach out if you have any questions or would like a personalized, complimentary analysis of your own home’s value. Always happy to help and keep you up to date!

The market is HOT right now. We’re seeing multiple offer situations on many houses, especially those listed below $1,000,000.

WHAT BUYERS WANT

WHAT BUYERS WANT

Many of my clients are re-thinking their living arrangements and I’m seeing trends surface as to what buyers want in their next home. Everyone seems to be seeking that perfect view, a bigger backyard, pools, finished outdoor living spaces, homes with office spaces and homework niches for the kids. People are focusing on finding the perfect neighbourhood with nearby walking trails and great amenities – a place where they can really enjoy their lives at home. And, of course, the cottage country real estate market is off the charts! In my day-to-day experience talking to clients, potential buyers, and other agents, this is the trend across the board. There seems to be a definite shift in priorities for buyers and sellers.

A shift in priorities for buyers is making some homes and locations in high demand in today’s market.

JUNE 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

JUNE 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

There has been a significant increase in market activity in the month of June compared to April and May. The desire to buy and sell is certainly back up. We are getting steady showings on our listings, although some price points are certainly seeing more action than others. On average, Oakville homes are selling for higher prices this year compared to last year’s average home sale prices.

This increase in market activity comes after a significantly lower-than-average number of homes sold in the months of April and May due to effects of COVID-19.

We always keep a close watch of the local market. Feel free to reach out if you have any questions or would like a personalized, complimentary analysis of your own home’s value. Always happy to help and keep you up to date!

Real estate market activity is up in Oakville! According to statistics gathered from the Oakville, Milton & District Real Estate Board, the number of homes sold in Oakville in the month of June 2020 is back up and comparable to the number of homes sold in June of 2019. This increase in market activity comes after a significantly lower-than-average number of homes sold in the months of April and May due to the effects of COVID-19. The average sale price of an Oakville home has also increased year-over-year — it has gone up by 16.48% in June 2020 from June 2019.

ECONOMIC IMPACT OF COVID-19 ON HOME VALUES IN OAKVILLE

ECONOMIC IMPACT OF COVID-19 ON HOME VALUES IN OAKVILLE

Are homes selling? Have prices dropped? These are the questions we are getting asked the most. Everyone wants to know how their home’s value has been impacted by current economic trends.

Here’s what we have seen in Oakville’s real estate market so far in 2020:

We experienced a strong seller’s market in January through mid-March. Prices increased as demand soared and supply was limited. Towards the end of March and into April, we saw a significant decrease in the volume of sales as the market moved more towards balance. The average sale price, however, continued to increase year-over-year in both April and May.

THE AVERAGE HOME SALE PRICE IN OAKVILLE
WAS +8.25% HIGHER IN APRIL 2020
COMPARED TO APRIL 2019.

 

This trend continued right into May. Sales volume decreased while prices continued to go up year-over-year.

 

THE AVERAGE HOME SALE PRICE IN OAKVILLE
WAS +11.27% HIGHER IN MAY 2020
COMPARED TO MAY 2019.

We are well into June now and I’ve seen a steady increase in buyer and seller activity. Homes are selling and home values are still on the rise in our local Oakville market.

Let me know if you’d like more personalized information or check out our Neighbourhoods Page for monthly segmented statistics for every single neighbourhood in Oakville.

Always here and happy to help!
Feel free to contact us anytime if you’d like more information or a complimentary analysis of your home’s value.

 

Rina DiRisio
Sales, Representative
rina@rina.ca
416-804-4347

WE’RE BACK IN ACTION!

WE’RE BACK IN ACTION!

We’re back! Our Royal LePage Glen Abbey office has re-opened with some restrictions and social distancing rules in place.

Can you tell we missed each other? I’m thankful for this group of creative, fun and dedicated individuals who are amazing at what they do, but also don’t take themselves too seriously!

Watch our little ditty on social distancing at the office below.

– Rina

A little ditty on social distancing at the office.

MAY 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

MAY 2020: OAKVILLE REAL ESTATE MARKET STATISTICS

Snapshot of May 2020 market activity in comparison to May 2019 market activity in Oakville – check it out!

While the number of listings and sales last month has decreased compared to the same time last year, the average home price in Oakville has increased by 11.27% from May 2019 to May 2020. We’re seeing a steady increase in buyer/seller activity over the past few weeks. If you are thinking of moving, now is the time to get the ball rolling.

MARKET UPDATE: A LOT OF POSITIVE SIGNS OUT THERE!

MARKET UPDATE: A LOT OF POSITIVE SIGNS OUT THERE!

We get inundated with stats about home prices being down or up, or volume being down or up, so to give you a true idea of what I’m seeing in the day-to-day real estate market in Oakville, I thought I’d do a quick update.

Here is a quick summary of what I’m seeing (but make sure to watch the video below!):

✨ More showings in the last 2 weeks on many of our listings
✨ In the last 7 days that showing activity has increased
✨ Listing activity is up 40% since 2 weeks ago, according to our brokerage
✨ We’re starting to see more offers coming in on our listings
✨ A lot more conversations with sellers about getting their homes on the market
✨ Buyers are more positive
✨ Sellers are more eager

As the COVID-19 situation became more serious in March and a lot of businesses turned to virtual operations, a lot of my clients decided to put moving on hold. What I am telling a lot of them right now is to start thinking about getting their homes on the market soon. I wouldn’t want them to miss that opportunity to make their moves as there are a lot of positive signs out there. Anything can change from day to day. I will keep continue to keep you updated.

“In the last 7 days that showing activity has increased. Listing activity is up 40% since 2 weeks ago, according to our brokerage. We’re starting to see more offers coming in on our listings and there has been a lot more conversations with sellers about getting their homes on the market.”

ALWAYS HERE FOR YOU

ALWAYS HERE FOR YOU


We want to acknowledge everyone, especially the essential workers, for their continuous strength and resilience.

As a family and as a team our values remain the same during this time. We take pride in providing a first-class real estate experience. We know the value a high-quality marketing package brings to our clients  both in helping them stand out in the competitive real estate marketplace and in helping them achieve top dollar for their homes. Our best-in-class listing services, which include top-quality photography, virtual and professional staging services, professional writing services, high quality videos, lifestyle videos, aerial drone shots and 3D property tours, along with our digital and traditional advertising strategies, provide our clients with a marketing edge that translates into best results.

We have always gone the extra mile for our clients and we will continue to go above and beyond – always here for you!

“Our best-in-class listing services, which include top-quality photography, virtual and professional staging services, professional writing services, high quality videos, lifestyle videos, aerial drone shots and 3D property tours, along with our digital and traditional advertising strategies, provide our clients with a marketing edge that translates into best results.”

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

Rina DiRisio

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