August 2019 Oakville Real Estate Update

August 2019 Oakville Real Estate
August 2019 Oakville Real Estate Update
Find Oakville's Cheapest Gas
Advertisement

About the Author

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.

Latest posts (See all)

August 2019 Oakville Real Estate Update shows a strong and healthy market. Prices are increasing in every category, days on market are tight but reasonable, and properties are priced right.

According to the Toronto Real Estate Board, the number of properties sold in Oakville for July was 248.

Greater Toronto Area REALTORS® reported 7,711 sales through TREB’s MLS® System in August 2019. This result was up by 13.4 per cent compared to August 2018.

August 2019 Oakville Real Estate Update shows the GTA’s average home price increased to $792,611  or 3.6% increase from August 2018.

Year to date Statistics

  1. Homes sold: 2,178
  2. Median price: $894,750
  3. New Listings: 4,450
  4. Sold price vs list price: 97%
  5. Days on Market: 29

The number of new listings was 399 with a total number of 731 active listings. There was 3.2 months of inventory which is an increase from July, but expected as the Fall selling season begins in September. Properties sold for 97% of the last listed price, and typically sold in 31 days.

Unit Sales per type:

  1. Detached: 134
  2. Semi-Detached: 1
  3. Condo-Townhouses: 31
  4. Condo-Apartments: 40
  5. Link: 2
  6. Attached/Row/Townhouse: 40

Advertisement

July’s median sales price according to type:

  1. Detached: $1,189,500
  2. Semi-Detached: $684,000
  3. Condo Townhouse: $526,000
  4. Condo Apartment: $450,000
  5. Link: $805,000
  6. Attached/Row/Townhouse: $770,000

Average days to sell in July:

  1. Detached home: 35
  2. Semi-detached: 19
  3. Condo-townhouse: 28
  4. Condo-apartment: 28
  5. Link: 21
  6. Attached/Row/Townhouse: 22

Detached homes sold for 97% of the list price, semi-detached: 98%, condo-townhouse: 98%, apartment: 98%, link: 99% and townhouse: 99%.

Year over year the price of a detached home increased by 5.15%, semi-detached by 2.17%, townhouse by 8.98% and an apartment 7.97%. This is the first month in 2019 were every segment bounced up. Detached homes and townhouses have been increased steadily during the year, but in August the increase percentage doubled.

Oakville’s resident real estate market remains extremely healthy. The prices are on point. Buyers have time to consider their purchases. There was a great deal of discussion that the new home stress test was going to curtail the market. It hasn’t.

August 2018 Oakville Real Estate Update

Source:
Toronto Real Estate Board (TREB)

Tags:

, , , , , , ,


Readers Comments (0)


You must be logged in to post a comment.