I'm trying something new - I've joined the world of Bloggers. Even if you're not buying or selling a house right now - knowing a little about what is going on in the market can be useful. So, every week, or more often if there's something that I want to talk about I'll post here about what's going on in the Oakville Real Estate Market and of course talk about some of my listings.
I think if you own or are looking for a home here you're concerned about what's happening with the real estate market here in Oakville. In a nutshell - sales are much softer. Looking at September 08/07 sales volumes were down 21% - which is substantial. The average sale price is up 6% for all of Oakville to $497K - however, taking out one house sale of $5MM from the total - the average is actually flat ($468K).
Oakville is divided into 14 different real estate areas - in 5 of these areas (Central Oakville, College Park, River Oaks, Sherwood Heights and West Oakville) prices have actually dropped about 10%.
Houses are taking longer to sell as well - 40 days this year, vs 35 last September on average. And, in the areas in Morrison, Ford, Oakville, Wedgewood Creek and Southwest Oakville it's taking upwards of 2 months to sell.
All this being said, homes are selling - just slower.
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