No doubt this has been an interesting year. The first quarter saw sales volumes plummet 55% for all types of homes year over year. But May and June were terrific months and our second quarter sales volumes improved year over year by 5.5%. That just left us trailing 2008 detached home sales volumes by 8% for the first 6 months of the year. And the positive trend continues.
Looking at July numbers our average sales price for a detached home in Oakville is $660,000 compared to $633,000 for July '08. A 4.20% increase. July 2009 sales volumes increased 25% over the same period last year. The number of days on the market remains the same at approximately 42 days.
Looking at all types of housing we find that for the first 7 months our sales volumes are off only 3.5% with 1263 sales in the first 7 months of 2008 compared to 1221 sales this year.
No surprise that mortgage rates are remaining stable . 5 year money can be had for 4.29% and variable at 2.60%.
The upper end market saw 14 detached home sales this July compared to 10 in 2008. One non lakefront new construction home on a one acre lot sold for $7,000,000.
