Home sales in Oakville, Ontario in the third quarter of 2009 continued to accelerate.  Both the number of sales and the average sale price have surpassed those recorded for the same time period in 2008.

The increase in the number of sales month over month compared to 2008 began in May of this year and  continued through September. Limited inventory in Oakville has resulted in the demand for housing outstripping the supply.

This originally led to a balanced market but has tipped somewhat to a seller's market with many homes selling over list price in record time with multiple offers. Low interest rates continue to spur the buyers plus somewhat more confidence in the economy and job stability.

Home Sales - July 1, 2009 - September 30, 2009 - Oakville, Ontario = 964
Home Sales - July 1, 2008 - September 30, 2008 - Oakville, Ontario = 712

Sales Range - July 1, 2009 - September 30, 2009 - Oakville, Ontario = $150,000 - $7,000,000
Sales Range - July 1, 2008 - September 30, 2008 - Oakville, Ontario = $139,500 - $5,500,000

Average Days on Market - July 1, 2009 - September 30, 2009 = 38 
Average Days on Market - July 1, 2008 - September 30, 2008 = 40

Average Sale Price - July 1, 2009 - September 30, 2009 = $531,446.
Average Sale Price - July 1, 2008 - September 30, 2008 = $500,584

Sales over $1,000,000 - July 1, 2009 - September 30, 2009 = 52
Sales over $1,000,000 - July 1, 2008 - September 30, 2008 = 29

Sales Breakdown July 1, 2009 - September 30, 2009
Detached = 564
Semi-Detached = 37
Freehold Townhomes = 164
Condo Townhomes = 72
Condo Apartments = 107
Other = 20

Sales Breakdown July 1, 2008 - September 30, 2008
Detached = 405
Semi-Detached = 37
Freehold Townhomes = 129
Condo Townhomes = 52
Condo Apartments = 81
Other = 8

Statistics indicate that the number of home sales in Oakville, Ontario increased in the third quarter over the same period in 2008 by 35.4% and the average sale price increased by 6.17%.

The Oakville market is extremely stable with positive signs for the remainder of 2009.

For more information on the Oakville real estate market please contact Jenny Kotulak Broker, RE/MAX Aboutowne Realty Corp. Brokerage, Oakville, Ontario
905-842-7000

Follow Jenny on Twitter - @oakvilleontario

www.oakvilleontariorealestate.ca

Stats Source - OMDREB Tarasoft Matrix