Oakville Real Estate Update: February 15 to 22, 2013

Though mainstream media is still crying the sky is falling – it doesn’t appear to be falling in Oakville. Volume is down by 7% from January 1 to February 2 of this year, over the same period as last year. If conditional sales were included we would be above by 1.5%. So it appears the sky isn’t falling, and your real estate holdings are in good shape. This week for the first time this year, volume is just over 1% of total available inventory. Inventory levels are always expected to rise during the next month as spring is the busiest selling season of the year. Realtors traditionally do about 40% of their sales during the spring real estate market.

Here are the Oakville real estate stats for this past week:

Price Range Active Sold at or above Conditional Listed De-Listed
Leases 170 10 4 0 19 7
$100K to $500K 150 15 4 15 32 7
$500K to $1M 286 28 7 21 70 14
$1M to $2M 144 2 0 6 26 6
$2M plus 86 1 0 3 11 2
Totals 836 56 15 45 158 36

207 ReynoldsA healthy number of properties are still selling at or above list, but the criteria is the same: 4 bedrooms detached home in north-west Oakville with parking for two cars, staged and fully finished modern basement. If you’ve got one of these on a premium lot: you should see a great deal of activity: but don’t over-price it, because today’s buyers are not willing to come in substantially lower than asking. Speak to your realtor – they will help you to sell your home for top dollar. Though selling your property yourself initially is an interesting option, research indicates that sellers that sell their own homes sell at 10% below market. When real estate fees of  5% are taken into account, these sellers are losing about 5%. I don’t know about you, but I would prefer that extra 5% to be in my back pocket.

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