The September 2020 Oakville Real Estate statistics are almost a mirror of the August numbers. Prices continue to increase. A detached house now cost 13% more than it did last year as inventory continues to tighten and borrow costs remain low.
On October 8, 2020 the least expensive residential properties in Oakville, Ontario on Realtor.ca are:
- Condo - 20 Speers - 1 Bed - $319.9K
- Townhouse - 530 Falgarwood - 3 Bed - $519K
- Semi-detached- 1370 Langdale - 3 Bed - $700K
- Detached - 144 Stewart - 3+1 Bed - $849.9K
According to the Toronto Real Estate Board, the number of properties sold in Oakville for September was 402.
Greater Toronto Area REALTORS® reported 11,083 sales through TREB’s MLS® System in September 2020. This result was up by a 42.3 per cent compared to September 2019. The GTA's average home price increased to $960,772 or 14 per cent increase from September 2019.
“On a GTA-wide basis, market conditions tightened in September relative to last year, with sales increasing at a faster pace than new listings. With competition between buyers increasing noticeably, double-digit year-over-year price growth was commonplace throughout the region in September, resulting in the overall average selling price reaching a new record,” said Jason Mercer, TRREB’s Chief Market Analyst.
September 2020 Oakville Real Estate Statistics
Year to date statistics
- Units Sold: 2,522
- Medium Sales Price: $1,055,000
- Sold vs list price: 98%
- Days to sell: 32
The number of new listings was 663 with a total number of 648 active listings. There was 2.1 months of inventory which is a decrease from August. Properties sold for 99% of the last listed price, and typically sold in 32 days.
Unit Sales per type:
- Detached: 256
- Semi-Detached: 9
- Attached/Row/Townhouse (freehold): 65
- Condo-Townhouses: 28
- Condo-Apartments: 38
- Link: 6
Median sales price according to type:
- Detached: $1,450,000
- Semi-Detached: $920,00
- Attached/Row/Townhouse (freehold): $881,000
- Condo Townhouse: $645,000
- Condo Apartment: $516,250
- Link: $920,500
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: 25
- Semi-detached: 7
- Attached/Row/Townhouse (freehold): 13
- Condo-townhouse: 16
- Condo-apartment: 29
- Link: 20
Detached homes sold for 98% of the list price, semi-detached: 100%, freehold townhouse: 101%, condo-townhouse: 99%, apartment: 98%, and link: 101%.
Oakville year-over-year statistics
- Detached home price increased by 13.03%
- Semi-detached prices increased by 15.15%
- Townhouse prices increased by 16.78%
- Apartment increased by 9.96%
The residential real estate market in Oakville, Ontario is a sellers' market, as inventory remains tight and demand is 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.
August 2020 Oakville Real Estate Update
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