February 2020 Mid-Month Update

Townhouses in Oakville from $600,000 to $900,000 have risen in average sales price from $785,497 in September 2019 to $839,338 as of Feb 14 2020. In these six months the average price has increased by 7%, but 6% of that was in the last 2 months. This part of the market is rife with multiple offers similar to the 2016/2017 market, with what seems to be no end in sight, particularly with interest rates predicted to decrease in the coming months.

Detached homes in Oakville from $800,000 to $1,000,000 have a similar storey as the townhomes in that they have risen in average sales price from $887,377 in September 2019 up to $927,069 as of Feb 14 2020 which is a 6 month increase of 5% and all of that 5% in the last 2 months. 

Detached homes in Oakville from $1,000,000 to $1,500,000 have increased from $1,195,383 in Sept 2019 to $1,262,891 in Feb 2020 which is a 7% price increase over 6 months but all of it coming in the last 2 months.

Detached homes in Oakville priced over $1,500,000 is still a balanced market for now and behaving normally for this time of year, but we expect the rising demand to creep into these price ranges throughout the spring and summer as well, which is the normal progression.