Oakville Real Estate Update: October 20-27, 2013

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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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A solid week of sales for Oakville residential real estate. Currently, there are more homes that have come off the market then went on by a number of four properties. It isn’t a large number but as we approach November 15, 2013 the market becomes increasing quieter – sales in general tend to slow down.

Here are the Oakville real estates statistics for the week of October 20st to 27th:

Price Range Sold Listed at or Above De-Listed Available
Lease 12 23 5 8 165
100-500K 9 17 2 6 100
500K-1M 27 28 8 6 216
1-2M 7 16 0 11 150
2M plus 0 3 0 3 85
Total 55 87 15 34 716

The average price of a lease was $1,964 and was on the market for 22 days. Rents are either going at list or below. There are no bidding wars in leasing. The average price of a sold property was $708,000 and was on the market for 29 days.

The hot area of the market are for properties listed between $500,000 to $1,000,000, and is seeing over 25% of the sales happening at or above list.  If you have the perfect house at the right price point or slightly below, you’ll likely be in a bidding war. So if you are purchasing in the sweet spot of 500 to 1M, you’ll need to be careful with your offer. It isn’t always about the money, sometimes it can have more to do with timing. Get as much information as you can before making your offer. Remember there are virtually no bargains in Oakville real estate – so if you know they have listed $10,000 below the market – you’ll need to be above the asking price with your offer to stand a chance in a bidding war.

As we approach this week, and All Hallow’s Eve or Halloween – don’t forget to keep decorating tasteful and current. If you have a family home, buyers do appreciate seeing how your home will function. However, they do not want to trip over halloween stuff. You’re realtor will be able to provide you with a little guidance with this –  a jack-o-lantern is great, but you might want to skip the cobwebs. Just saying.

Also as the days are getting short, please remember to leave your front light on as well as the entry hall light. Walking into a dark house is never pleasant, and definitively isn’t inviting.



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