September 2019 Oakville Real Estate Update

September 2019 Oakville Real Estate
September 2019 Oakville Real Estate Update
Find Oakville's Cheapest Gas
Advertisement

About the Author

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.

Latest posts (See all)

September 2019 Oakville Real Estate Update shows a strong and robust market. Prices are increasing in every category, days on market are tight but reasonable, and properties are priced right.

According to the Toronto Real Estate Board, the number of properties sold in Oakville for September was 224.

Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in August 2019. This result was up by a staggering 21.9 per cent compared to August 2018. The GTA’s average home price increased to $843,115  or 5.82% increase from September 2018.

September 2019 Oakville Real Estate Statistics

Year to date

  1. Homes sold: 2,401
  2. Median price: $895,000
  3. New Listings: 5,043
  4. Sold price vs list price: 97%
  5. Days on Market: 29

The number of new listings was 593 with a total number of 836 active listings. There was 3.2 months of inventory which is an increase from August, but expected as September is traditionally the beginning of the Fall selling season. Properties sold for 96% of the last listed price, and typically sold in 32 days.

Unit Sales per type:

  1. Detached: 115
  2. Semi-Detached: 10
  3. Condo-Townhouses: 31
  4. Condo-Apartments: 29
  5. Link: 1
  6. Attached/Row/Townhouse: 47

Median sales price according to type:

  1. Detached: $1,225,000
  2. Semi-Detached: $858,000
  3. Condo Townhouse: $515,000
  4. Condo Apartment: $490,000
  5. Link: $825,000
  6. Attached/Row/Townhouse: $817,900

Average days to sell

  1. Detached home: 38
  2. Semi-detached: 26
  3. Condo-townhouse: 27
  4. Condo-apartment: 28
  5. Link: 4
  6. Attached/Row/Townhouse: 24

Detached homes sold for 96% of the list price, semi-detached: 99%, condo-townhouse: 99%, apartment: 97%, link: 98% and townhouse: 97%.

Year over year the price of a detached home increased by 6.31%, semi-detached by 2.41%, townhouse by 7.94% and an apartment 3.78%.

Oakville’s resident real estate market remains extremely healthy. The prices are on point. Buyers have time to consider their purchases. There was a great deal of discussion that the new home stress test was going to curtail the market. It hasn’t.

September 2018 Oakville Real Estate Update

Source:
Toronto Real Estate Board (TREB)

Tags:

, , , , , ,


Readers Comments (0)


You must be logged in to post a comment.