January 2019 Oakville Real Estate Update

January 2019 Oakville Real Estate Update
January 2019 Oakville Real Estate Update
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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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January 2019 Oakville Real Estate Update marks the very start of the spring market. Properties that were taken off the market for Christmas re-listed, and new properties come onto the market.

Comparing the number of properties sold from January 2019 of 153 to December 2018 of 121 exhibits a bump according to the Toronto Real Estate Board (TREB).  On the other side, the Oakville Milton District Real Estate Board (OMDREB) reported a downward trend of 9% from January 2018.

A number of Toronto and Oakville realtors are not listing Oakville Properties on the OMDREB system, but rather with the Toronto Real Estate Board.

The number of new listings was 420 with a total number of 604 active listings. There was 3.5 months of inventory. Properties sold for 96% of list, and typically sold in 43 day

Unit Sales per type:

  1. Detached: 80
  2. Semi-Detached: 4
  3. Condo-Townhouses: 13
  4. Condo-Apartments: 26
  5. Attached/Row/Townhouse: 29

December 2018 Oakville Real Estate Update

January 2019 Oakville Real Estate Update shows the GTA’s average home price increased from $735,874 (November 17) to $748,328, an increase of 1.5% . According to the Oakville Milton District Real Estate Board (OMDREB) the cost of an average home’s increased to $1,115,569. It increased from last January’s $1,065,727. Average price in Oakville increased 4.7%.

“It is encouraging to see the slight increase in January transactions on a year-over- year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura, TREB President.

Median sales price according to type:

  1. Detached: $1,200,000
  2. Semi-Detached: $686,250
  3. Condo Townhouse: $510,000
  4. Condo Apartment: $421,000
  5. Attached/Row/Townhouse: $800,700

Average days to sell in December:

  1. Detached home: 51
  2. Semi-detached: 13
  3. Condo-townhouse: 30
  4. Condo-apartment: 36
  5. Attached/Row/Townhouse: 34

The list price vs sold price is tight. Detached homes sold for 96% of the list price, semi-detached: 99%, condo-townhouse: 97%, apartment: 97%, and townhouse: 97%.

Sources:

Toronto Real Estate Board (TREB)
Oakville Milton District Real Estate Board (OMDREB)

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