April 2019 Market Intelligence

Sales Volume Analysis

While the real estate market is unique in many ways, it’s also a market like any other whene it comes to analyzing the volume of sales, the average sales prices, and the amount of inventory (MOI). Oakville, Burlington, and Milton are in very good shape right now and are poised for strong growth. 

Oakville

As we can see in the chart below the month of April had huge volume increases in Oakville with a moderate price increase which most often indicates a market shift towards rising prices and when we see large volume in this situation it gives us an indication of the strength of this market shift. The Oakville market enjoyed a 20% increase in volume compared to the previous month and a 20% increase compared to April of last year as well. The increase in price was modest at 0.8%, but also important to note here is that the months of inventory has now dropped below 3 months for the first time since May of 2017 so this coming month should be quite interesting to see if this market shift will be confirmed. There was a fair bit of pent up demand from a brutally miserable winter, combined with a general market wide confidence that interest rates have definitely stopped increasing and might even begin to drop this year has spurred more buying activity.