March 2019 Oakville Real Estate Update

March 2019 Oakville Real Estate Update
March 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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March 2019 Oakville Real Estate Update, and we’re into the first month of the Spring market. ¬†

According to the Toronto Real Estate Board, the number of properties sold in March 2019 was 278.  Selling prices remained stable, and the multiple offers subsided with a few exceptions.

Year to date Statistics

  1. Homes sold: 595
  2. Median price: 880,000
  3. New Listings: 1,462
  4. Sold price vs list price: 97%
  5. Days on Market: 33

The number of new listings was 614 with a total number of 843 active listings. There was 3.6 months of inventory. Properties sold for 97% of list, and typically sold in 29 days.

Unit Sales per type:

  1. Detached: 140
  2. Semi-Detached: 6
  3. Condo-Townhouses: 25
  4. Condo-Apartments: 49
  5. Attached/Row/Townhouse: 58

January 2018 Oakville Real Estate Update

March 2019 Oakville Real Estate Update shows the GTA’s average home price increased to $788,335, which is an increase of 0.5% from March 2018 . According to the Oakville Milton District Real Estate Board (OMDREB) the cost of an average home’s increased to $1,155,338. The average price of a home in Oakville increased 4.64%. The median sale price was $972,500 which is down from $1,020,000 of March 2018.

 

Median sales price according to type:

  1. Detached: $1,216,500
  2. Semi-Detached: $762,500
  3. Condo Townhouse: $524,000
  4. Condo Apartment: $425,000
  5. Attached/Row/Townhouse: $819,500

Average days to sell in March:

  1. Detached home: 30
  2. Semi-detached: 12
  3. Condo-townhouse: 30
  4. Condo-apartment: 32
  5. Attached/Row/Townhouse: 25

Detached homes sold for 96% of the list price, semi-detached: 97%, condo-townhouse: 98%, apartment: 98%, and townhouse: 98%.

According to the statistics from Oakville Real Estate Board the number of units sold this year as compared to last year is down to 183; however, TREB’s number for March 2019 is 278. OMDREB’s sales for March 2018 was 221.

A number of Toronto and Oakville realtors are not listing Oakville Properties on the OMDREB system, but rather with the Toronto Real Estate Board. Also the Toronto Real Estate Board uploads properties to TREBHome.com. This is a change.

Sources:

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

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