Oakville Real Estate Update: February 2 to 9, 2013

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Home of the Week - 610-40 Old Mill Road - 2 plus den

Home of the Week – 610-40 Old Mill Road – 2 plus den

The perfect home!

Like most weeks in Oakville, this week the market had 9 out of 38 homes that sold at list or above – 23.4%. However, there is no denying the fact that the volume of homes sold is down from 69 homes sold during the same week last year. This number can also be attributed to the Alberta clipper that closed Oakville down on Friday.

So what are the elements that make up the perfect home in Oakville:

  1. detached
  2. 4 plus bedrooms
  3. dark hardwoods on main-floor
  4. professionally finished basement
  5. professionally photographed
  6. staged
  7. between 6 to 15 years old
  8. located in North West Oakville preferably north of Upper Middle Road

The homes are selling just slightly  above the listing price, usually not more then a couple of thousand. So the buyers who are willing to go into a bidding war want perfection. They don’t want to have to figure out the potential. About the only thing they might be willing to over look is the colour on the walls – but it better not be every room. So if you want a bidding war on your home – you need to be willing to allow a stager to re-arrange your furniture, and the realtor to price your home competitively.

Here are the real estate statistics for this week:

Price Range Active Conditional Sold at or above Listed Delisted
Leased 175 1 10 4 38 9
$100K to $500K 128 22 17 2 32 4
$500K to $1M 266 13 19 6 72 11
$1M to $2M 131 2 2 1 21 3
$2M plus 83 0 0 0 9 1
Total 783 38 48 13 172 28
Home of the week: 2 plus den 610-40 Old Mill Road

Home of the week: 2 plus den 610-40 Old Mill Road

If your home is listed this week, please make sure your driveway and walkways have been shovelled, and place a mat by the entrance to catch all the snow and dirt.

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