Tight inventory pushes Oakville real estate prices sky high in June 2016

House made of Canadian Dollar $20
Tight inventory pushes Oakville real estate prices sky high in June 2016

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Nolan A Machan

Nolan A Machan

Nolan Machan is the Publisher of OakvilleNews.Org and has over 41 years of local Oakville knowledge. He is committed to providing Oakville residents with the most up-to-date information about our great town.

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The Oakville Milton Real Estate Board have released the real estate statistics for June 2016. The total number of residential properties that sold in Oakville have dropped significantly from last year to 359 from 374 in 2015. However, the price per property has risen as dramatically from $800,000 to $1,075,000.

Properties sales by type as a percentage:

Detached Home – 64.6%
Semi-Link-Town – 22.3%
Condo Apt/Town – 23.5%
Other – 2.2%

Detached Homes sales in Oakville in number of units:

$400K to $600K: 1
$600K to $800K: 24
$800K to $1M: 61
$1M plus: 146

86 percent of Semi/Link/Townhouse sales in Oakville were in the $400,000 to $800,00 range. 77 percent of Condo Apartments and Townhomes sales in Oakville ranged in price from $300,000 to $800,000. The lowest price range in Oakville for residential real estate are from $150,000 to $200,000.

An interesting Oakville property that made national headlines in June 2016 was a $17,900,000 estate on Lakeshore Road East, that was listed by Nancy Robertson of Sotheby. The estate is situated on an acre plus of property. The house is comprised of five bedrooms, and eight bathrooms over 15,000 square feet.

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