How did OAKVILLE’s 2018 real estate market perform?
The above infographic compares to the same month for this and previous years. It’s a snap shot but doesn’t tell the whole story! For a better understanding, look at data plotted below.
- The top plots are for fully detached homes, with average sale price on the left plot and the number of units sold on the right.
- The plots on the bottom show the performance of all other residential or “non-detached” properties.
Fully Detached Homes
- Average Price… Not only did we see it trend up this summer it’s continuing in to the fall! The pricing correction for detached properties in Oakville seems to be over, and we’re rising again. A few months I ago I said “NOW is the time to buy a detached home in Oakville…” and it’s certainly proving to be the case. Oakville’s correction has been a bit difficult for some home owners hoping to “get rich” off last years prices, as the number of over priced, expired and cancelled listings has been high. But we’re slowly making our way back to a balanced market.
- Number of Sales started well, but has flattened out and even dropped off, compared to previous years, much of it from a few sellers still being overly optimistic about value. Watch for this to pick up next year and we’re already seeing improvement there. It’s still an excellent time to buy in Oakville and the prices are coming back so not a bad time to sell either.
Non-Detached Homes (Semi, Towns, Condo Apartments)
- Average Price is doing well, and on it’s way to recovering! There is some fluctuation, but in general we’re seeing improvement and a healthy market.
- Number of Sales started slow, but business is growing, and we’re doing better than this time last year!!!
The Market in Oakville is picking up, detached prices are slowly rising and favourable compared to years previous to 2017. Great time to buy a detached home in Oakville! For Non-Detached, we’re still seeing a good balanced market, not quite the deals of Detached homes, but appropriate for Oakville as it continues it’s growth.
As always, this varies between specific areas and types of property, so if you really want to know what’s going on in your area, please contact me!
UNDERSTAND YOUR HOME’S VALUE
Knowing the actual value of your home in a quick moving market is not always easy…
- What were the factual sale prices of properties similar to yours?
- How do various differences impact the value?
- What is the market doing to your neighbourhood’s value?
It’s what we do, use our resources and experience to get detailed answers related to your home specifically. Please fill in the questions below to receive a detailed evaluation of your property. I do this personally for you using my knowledge and experience combined with factual data from your neighbourhood.
Or if you prefer, call me directly at 905-827-6606! I’d be delighted to hear from you….
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