The October 2020 Oakville Real Estate statistics shows that people continue to want access to private outdoor space which has driven up our resident home prices by over 10%, over the past year.
On November 27, 2020 the least expensive residential properties in Oakville, Ontario on Realtor.ca are:
- Condo - 1050 Falgarwood - 3 Bed, 1 Bath - $399.9K
- Townhouse - 2300 Brays Lane - 3 Bed, 2 Bath - $609.9K
- Semi-detached- 1550 Grosvenor Street - 3 Bed, 3 Bath - $798K
- Detached - 2169 Sunnyvale Drive - 3 Bed, 2 Bath - $875K
According to the Toronto Real Estate Board, the number of properties sold in Oakville for October was 390.
Greater Toronto Area REALTORS® reported 10,563 sales through TREB’s MLS® System in October 2020. This result was up by a 25 per cent compared to October 2019. The GTA's average home price increased to $968,318 or 13.6 per cent increase from October 2019.
"Despite industry warnings that the market would cool off in the last half of the year, we continue to notice a rise in all data points and figures," stated OMDREB President Richard Weima.
He continued, “We are seeing some softness in the condo numbers as lower interest rates and fewer tenancies has provided great opportunity for Buyers seeking more spaciousness in property and home lifestyle, driving them out from higher density neighbourhoods to wide open suburban spaces."
October 2020 Oakville Real Estate Statistics
Year to date statistics
- Units Sold: 2,908
- Medium Sales Price: $1,070,000
- Sold vs list price: 98%
- Days to sell: 32
For the month of October, the number of new listings was 563 with a total number of 563 active listings. There was 2 months of inventory which is a decrease from September. Properties sold for 98% of the last listed price, and typically sold in 32 days.
Unit Sales per type:
- Detached: 231
- Semi-Detached: 9
- Attached/Row/Townhouse (freehold): 65
- Condo-Townhouses: 26
- Condo-Apartments: 54
- Link: 5
Median sales price according to type:
- Detached: $1,410,068
- Semi-Detached: $838,000
- Attached/Row/Townhouse (freehold): $912,500
- Condo Townhouse: $628,250
- Condo Apartment: $510,000
- Link: $899,000
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: 21
- Semi-detached: 15
- Attached/Row/Townhouse (freehold): 20
- Condo-townhouse: 17
- Condo-apartment: 23
- Link: 12
Detached homes sold for 98% of the list price, semi-detached: 101%, freehold townhouse: 100%, condo-townhouse: 100%, apartment: 98%, and link: 101%.
Oakville year-over-year statistics
- Detached home price increased by 10.93%
- Semi-detached prices increased by 14.13%
- Townhouse prices increased by 14.94%
- Apartment increased by 9.48%
The residential real estate market in Oakville, Ontario is a sellers' market, as inventory tightened over the past month and demand remains strong. With low borrowing costs not likely to change in the near future, and the pandemic causing us the hunker down, owning a home appears to be a high priority.
September 2020 Oakville Real Estate Update
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