November 2019 Market Intelligence

Oakville’s real estate market continues to show strength in sales volume at 291 deals in October 2019 compared to 256 deals in October 2018 for a 14% increase in sales volume year over year. Oakville’s average sales price is always heavily affected by how many properties are sold in the $3,000,000 plus category and in September there were quite a few which brought the average price up substantially. In October there weren’t as many of those deals so compared to September there was of course a huge decrease in the average price by 7%, but that doesn’t mean that a $1,000,000 property is all of a sudden worth $930,000. In order to determine the actual market value of any property we always examine the particular part of the market that compares the closest to the subject property. Looking at the trend line of these blue graphs you can see that the sales volume is rising steadily, and the amount of inventory is declining which we measure by month’s of inventory (how long it would take to sell every single property on the market), and the trend line for the average sales price has been rising steadily all year. Keep in mind every subsegment of the Oakville market is so very unique and requires expert knowledge to navigate successfully, please call me any time to discuss – 905-399-4269.

Burlington just continues to steam roll with solid volume, declining inventory levels and rising sales prices overall. It’s challenging to be a buyer in Burlington at the moment with multiple offers being quite normal in the lower price ranges (Under $1,000,000). 

Milton, much like Burlington is on fire and has been for a long time. Looking back to December of 2017, Milton has really been on an extremely solid run of price appreciation, and sales volume increases, and oddly enough even with so many new homes being built in Milton right now, the inventory levels continue to drop. Milton as well as Burlington are truly selller’s markets.