Oakville Real Estate Market Update

By
Real Estate Agent with RE/MAX Aboutowne Realty Corp

Number of Homes sold in Oakville each month in 2011

Selling Price   Aug Jul Jun May Apr Mar Feb Jan
                   
Less than $300,000   26 32 36 33 27 28 17  14
$300,000-$500,000   85 111 122 143 116 136 102  69
$500,000-$700,000   67 78 114 109 95 99 50  59
$700,000-$1,000,000   41 42 65 68 42 41 49  16
$1,000,000-$2,000,000   14 20 25 38 23 23 21  11
More than $2,000,000   4 5 3 4 7 2 4  7
                   
Total Sales   237 288 365 395 310 329 243  176

Total Inventory: 659 homes currently listed for sale in Oakville (as of Sept 7).

There were 237 sales in Oakville in August, down significantly from the previous 3 months but much stronger than last August  when we had 220 sales. For the most part the weather cooperated with much more moderate temperatures than in July, making house hunting much more comfortable.

Currently there are 659 homes listed for sale in Oakville, up from 619 to start off the month of August. Of those 659 homes, only 174 are priced below $500,000. 264 homes are priced between $500,000 and $1,000,000. There are 221 homes priced above $1,000,000, which represents about 1/3 of the market.

As with the previous few months, we continue to see a real shortage of homes on the market, especially in the lower price ranges. With 111 homes selling for less than $500,000 last month and only 174 home listed in this range, this represents about 1.5 month's supply.

Please feel free to contact me directly if you have any questions about the statistics or would like information specific to your area.

 

Posted by

David Archibald

Real Estate Sales Representative

RE/MAX Aboutowne Realty Corp.

david@westendproperties.ca

416-938-9951 (direct/mobile)

905-842-7000 (office)

905-842-7010 (fax)

 

www.westendproperties.ca

 

Residential Sales - Leasing - Investment Properties

 

Your best interest is my top priority!

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