Bungalows: What’s Driving Demand

Oakville bungalows have surged in popularity over this past years as baby-boomers have started downsizing to homes

Old Oakville estate listed by Christopher Invidiata - Re/Max

Old Oakville estate listed by Christopher Invidiata – Re/Max

that will suit them for most of their retirement. They don’t want stairs, and they want just enough bedrooms for the occasional sleep-over with distant relatives, friends and grandchildren. They want all the same creature comforts that they enjoyed in their original home: large dining room and living room, gourmet kitchen, master suite that includes walk-in closet and spa-like bathroom. The other types of bungalow buyers are young couples looking to get out of their cramped downtown Toronto condos, wanting a little home with a garden.

As of today, there are 65 bungalows available in Oakville ranging in price from $439,000 for a basic bungalow in Kerr Village listed by Linda Sadler of Royal LePage, to a 9,000 sq ft palatial estate in Old Oakville listed at $13,998,000.00 listed by Christopher Invidiata of Re/Max.

 This year 351 bungalows sold in Oakville. It took an average of 30 days on market to sell, and the average price was $660,000. This represents 18% of all detached homes that sold in Oakville over the past year.  Prices are up significantly over last year.

Kerr Village bungalow listed by Linda Sadler - Royal LePage

Kerr Village bungalow listed by Linda Sadler – Royal LePage

The least expensive Oakville bungalow sold for $320,000 which is $25,000 more than last year. The property located is in Central Oakville, walking distance to Kerr Village, it featured three bedrooms, and one washroom. The most expensive Oakville bungalow sold in Morrisson for $3,300,000. Finished to perfection this home features 3 bedrooms plus 5 bathrooms with soaring ceilings and situated on manicured grounds. Oakville has something for every budget in every area. However, if you are searching for a bungalow – they make up on a small amount of the total inventory available – so working with a good realtor is a must.

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