HAS SPRING SPRUNG EARLY FOR OAKVILLE? –
February has arrived and although it’s still winter, Oakville’s real estate market is looking far from chilly! If the thought of putting your home up for sale has crossed your mind, now may be the time to do it. Home sales and listings in the local area are currently making a comeback, which is great news for homeowners who are looking to go to market with their property and if you’re wondering whether or not now is a good time to buy, the answer is also yes – especially if you’re looking to get a head start on the annual springtime spike. One of the main reasons many families choose to buy in the spring is to schedule their move for the summer to prevent relocating their children halfway through the school year. Not only are kids home during that period but a possible reason for the move is that a parent may also be transitioning to a new job so it makes sense why this would be an ideal time to start the home purchasing process.
Looking at January 2022’s numbers, Average Sales Prices continue to rise due to the ongoing lack of available inventory which has been a huge bonus for sellers so far this year. The average cost jumped to $1.86 Million – an increase of 17% over January 2021 while the Average Days On The Market dropped from 11 days last year to only 7 this year! In regards to listings and sales, there were fewer made this January than last but there has been a significant increase since December 2021 that indicates a market revving up for another sizzling Spring. There were 80 active listings and 101 sales last month – up from 45 and 94 in December, respectively, so if you’re considering a change of address, why wait? Contact the experts at Team RINA today.
Wishing you and your loved ones a fabulous February!
– Rina DiRisio
A LOOK AT THE NUMBERS IN OAKVILLE:
Here is a snapshot of the Oakville real estate market for the month of January 2022 in comparison to January 2021, taking into account all property types:
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