These figures are exclusively for the Oakville residential market and although all information provided is deemed accurate it is not guaranteed.
The average sale price is found by adding the value of all sales and divided by the number of homes sold. The median sale price is the midpoint sales price of all sales. The variance between the median and the average is primarily accredited to the high price point of the multiple luxury sales in Oakville for the month. A few $5 million plus sales can skew the calculation upward.
These stats do not include sold properties not reported through the Oakville, Milton and District Real Estate Board. For example, a home listed and sold by a Toronto Real Estate Board member who did not list the property on the Oakville board. I know sounds crazy right...who would ever do that and forego the massive exposure to Oakville realtors? Shockingly, it happens.
See further down for our more in depth "Under the Hood" look at the numbers.
Although February saw a noticeable drop in the number of sales compared to the same month last year, much of this can be accredited to the unseasonably cold winter and we have already noticed a pick up in March. Prices were marginally down but over a small sample size, nothing to be too concerned about. The condo market continued to perform well and represented a larger percentage of activity than in previous years. We are entering the traditionally busy time of year after March break and the arrival of Spring. Usually buyers are motivated by the nice weather and a desire to get into a new home for the summer. More inventory also comes on though as sellers feel their homes show better and are also motivated to make a change by the summer.
It appears as if interest rate increases have been put on hold by the Bank of Canada so the real estate market should continue to perform well. As an election is coming up, it is thought that the government may include some good news for home buyers such as increasing RRSP contribution allowance for first time buyers, permitting 30-year amortizations on insured mortgages and maybe reducing the stress test gap between the qualifying and contract rates. With downward pressure on many markets in Canada, they should be forward thinking enough to make some fiscal adjustments.
As always, we are here to answer any of your real estate and housing questions you may have, no matter how big or small the need might be. Look forward to chatting,
Blair & Peter
$ 893,750 (-2.32%)
Feb 2019 YTD
Feb 2018 YTD
Feb 2019 YTD
Feb 2018 YTD
Feb 2019 YTD
Feb 2018 YTD
Average Sale Price
Number of Sales
Days on Market
Another one of Oakville's geographic advantages, is its relative proximity to great recreational areas of Ontario. Whether it's getting away for the weekend with the family, looking to retire in a quieter spot out of the hustle and bustle of the GTA or just growing your real estate portfolio, there are some great spots within a comfortable driving distance and varying price points. Clients ask us all the time for thoughts or recommendations so we have decided to take a look at a different option in each of the next few monthly editions (perfect spring timing)! If you can't wait for each instalment and want to discuss them all at once, please don't hesitate to contact us.
Today we are going to look at a collection of 23 contemporary townhomes located in the heart of the coveted community of Thornbury, located on the shores of Georgian Bay. Enjoy the incredible, four-season lifestyle this community has to offer including skiing, cycling, boating, golf, and world class dining. Three and four bedroom units starting from $599k within steps of downtown Thornbury and the marina. We have a full sales package available for your review and can connect you directly with our trusted colleague responsible for the sales project if interested. Sales launch begins Friday, March 22, 2019.
➡️ Roof Top Terraces Available
➡️ Interior Elevator Options
➡️ 9' Ceilings Through Out
➡️ Approx 2000 Square Feet
➡️ Private Driveway
If you have any questions about the content of our newsletter, require information on a particular property or are interested in having a free no obligation price evaluation of you home, please email us directly or click below
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