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April Snapshot
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.
Hot New Listings...
Blair & Peter's Market
Update
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Despite the weather not really cooperating, the spring market finally began in April as both average and median sales price showed modest but historically normal improvements of 4.7% and 2.9% respectively over the year before. The actual number of house sales posted a 10% jump in comparison to 2018 signifying a healthy increasing trend of market activity. Equally encouraging was the 17% increase in sales numbers from March 2019 to April 2019 proving spring had indeed arrived. The significant difference in the magnitude of the appreciation rates between sales price and sales volume can likely be accredited to the higher inventory level and a continuing trend of buyers looking for fair value. Economic indicators continue to be favourable for real estate with low unemployment levels, continued immigration and interest rate hikes on pause.
As you may have seen lately in the news, the hot topic is money laundering of international dirty money through Canadian real estate purchases. The BC provincial government is taking steps to curb this activity and other provinces are expected to follow suit, particularly in light of the significant rise in house prices we've experienced. The difficulty in tracking these funds and the argument of housing affordability versus the economic boost via real estate and all the many offshoot sectors may make it a challenge however.
Spring is historically a great time of year to sell your house. As always, we are here to answer any real estate questions you may have, so please don't hesitate to contact us. Look forward to chatting,
Blair & Peter
A Few of Our Recent Solds...
$1,299,000 SOLD!!
Oakville Town Talk
Well it's that time of year again when it seems like construction signs, vehicles and detours are everywhere in Oakville as the town takes advantage of the good weather to repair roads and implement new projects. One such major undertaking that is very exciting is the revitalization of our historic downtown strip on Lakeshore Road East. New watermains under the main street must be replaced so the town is taking the opportunity to redo the streetscape and redevelop the town square. The vision is "To create an attractive, active, animated and vibrant downtown where people come together to live, meet, work, stay, interact and engage. It will be the cultural, social and economic heart of our community where citizens and visitors can celebrate and experience the natural setting, heritage, culture and the arts."
We are lucky to have such a beautiful commercial area, steps to the harbour and lake and offering great restaurants, cafes and stores. This is a two year project with the west end of downtown being completed over the summer of 2019 and the east end being completed over the summer of 2020. Although construction is extensive, the stores are all still open and have pedestrian access. It is very important for the citizens of Oakville to support these businesses during the next 2 years so they survive and continue to thrive after this necessary interruption. There is free parking on the weekends and the first hour during the week so please try and visit and support our local restaurants and stores.
Let us know if you have any questions or need a recommendation downtown!
More information on the project can be found at
Our "Under the Hood" Look at the Numbers
Median Sale Price
Apr 2019
$1,047,500 (+4.75%)
Apr 2018
$1,000,000
Apr 2019 YTD
$957,500 (-0.26%)
Apr 2018 YTD
$960,000
Average Sale Price
Apr 2019
$1,140,965 (+2.89%)
Apr 2018
$1,108,918
Apr 2019 YTD
$1,123,046 (+1.84%)
Apr 2018 YTD
$1,102,754
Number of Sales
Apr 2019
214 (+9.74%)
Apr 2018
195
Apr 2019 YTD
654 (-4.66%)
Apr 2018 YTD
686
Toronto Sales
Average Sale Price
$820,148 (+1.9%)
Number of Sales
9,042 (+16.8%)
Days on Market
19 (-5.0%)
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