SEPTEMBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS
Here is our overview of September 2020 in Oakville real estate:
There was a 47.53% increase in the number of sales in September 2020 vs. September 2019.
The average days on market decreased by 30.56%. This means that properties sold in less time in September 2020 vs. September 2019.
The number of active listings in September 2020 dropped by 33.09% in comparison to the number of listings on the market in September 2019.
The median sale price of an Oakville property jumped to $1,339,500 in September 2020 in comparison to $1,047,500 in September 2019. This is a 27.87% year-over-year increase in the median sale price (taking into account all property types) – WOW!
To summarize, homes sold more quickly and for more money in September 2020 in comparison to September 2019. There were fewer listings on the market in comparison to last year – which undoubtedly contributed to the increase in median sale price. The number of properties sold was also significantly higher, indicating a lot more activity in Oakville real estate market in September 2020 in comparison to the same time last year.
As demand continues to be strong with supply relatively limited heading into the fourth quarter, we expect to remain in a Seller’s market throughout the final months of the year and into 2021 as well.