OCTOBER 2020: OAKVILLE REAL ESTATE MARKET STATISTICS
Curious about the last month in Oakville real estate? Here is our overview of October market activity.
There was a 41.42% increase in the number of sales in October 2020 vs. October 2019.
The average days on market decreased by 28.13%. This means that properties sold in less time in October 2020 vs. October 2019.
The number of active listings in October 2020 dropped by 36.25% in comparison to the number of listings on the market in October 2019.
The median sale price of an Oakville property jumped to $1,386,817 in October 2020 in comparison to $1,127,454 in October 2019. This is a 23% year-over-year increase in the median sale price (taking into account all property types).
To summarize, September market activity trends have spilled over into October. Homes sold more quickly and for more money in October 2020 in comparison to October 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’s real estate market in October 2020 in comparison to the same time last year.
Inventory is low, and with prices still on the rise, it’s a good time to sell!