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June 2020 Oakville Real Estate Update

June 2020 Oakville Real Estate Market Update
June 2020 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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The June 2020 Oakville Real Estate statistics are indicating that regardless of the COVID-19 Pandemic prices and sales have continued to increase.  What has changed dramatically is the way homes are purchased and sold, since buyers are relying on virtual open houses. 

The least expensive detached home on Realtor.ca as of July 7th is $899,900. The home is located in West Oakville it has 3 bedrooms and 1 bathroom. There have been some renovations. Chelster Hall continues to be Oakville’s most expensive listed detached home at $49,995,000.

According to the Toronto Real Estate Board, the number of properties sold in Oakville for June was 322.

Greater Toronto Area REALTORS® reported 8,701 sales through TREB’s MLS® System in June 2020. This result was down by a 1.4 per cent compared to June 2019. The GTA’s average home price increased to $930,869  or 11.9 per cent increase from June 2019.

June 2020 Oakville Real Estate Statistics

Year to date statistics

  • Units Sold: 1,328
  • Medium Sales Price: $997,000
  • Sold vs list price: 98%
  • Days to sell: 31

 

The number of new listings was 627 with a total number of 633 active listings. There was 2.5 months of inventory which is a decrease from February. Properties sold for 97% of the last listed price, and typically sold in 32 days.

 

Unit Sales per type:

  • Detached: 193
  • Semi-Detached: 7
  • Attached/Row/Townhouse (freehold): 56
  • Condo-Townhouses: 27
  • Condo-Apartments: 34
  • Link: 5

 

Median sales price according to type:

  • Detached: $1,365,000
  • Semi-Detached: $910,000
  • Attached/Row/Townhouse (freehold): $888,750
  • Condo Townhouse: $666,000
  • Condo Apartment: $511,000
  • Link: $938,000

 

Average days to sell a home

TREB is using a new calculation method. If the property was listed before, those days are now included.

  • Detached home: 28
  • Semi-detached: 10
  • Attached/Row/Townhouse (freehold): 16
  • Condo-townhouse: 13
  • Condo-apartment: 21
  • Link: 26

 

Detached homes sold for 96% of the list price, semi-detached: 100%, freehold townhouse: 99%, condo-townhouse: 99%, apartment: 98%, and link: 96%.

Oakville year-over-year statistics

  • Detached home price increased by 8.75%
  • Semi-detached prices increased by 8.92%
  • Townhouse prices increased by 10.25%
  • Apartment increased by 9.75%

 

Oakville’s residential real estate market is strong. Houses selling above list appear to be over for the time being, but there are no bargains to be had.

February 2020 Oakville Real Estate Update

Source:
Toronto Real Estate Board (TREB)

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