There were 201 sales in November the same number as October. Down from Nov '2009's 254 sales but way above Nov '2008's 122 sales.
The average 2-storey home sold for $817,000, up from this October's low seven's & Nov '2009's $791,000. This is the first time we have cracked the $800,000 threshold.
The average for all types of housing including apartments was $579,000. That is considerably higher than a year ago when the average was $503,000.
The average days on market was 40.
There were 47 rental transactions. 13 were for condo apts that rented between $1,000 & $1,700. Ten of the 16 detached home rentals went between $2,000 & $4,000 with the lowest going for $1,600 & the highest going for $4,850.
Mortgages rates still remain very attractive and it looks like prices will hold going forward with some modest price fluctuation and overall growth.
Wednesday, December 1, 2010
Tuesday, November 2, 2010
October 2010 Sales Activity
Sales volumes for the month were 201, down almost 50% from a year ago but keeping pace with this September's 206 sales. Prices are still holding for the most part with the average sale price for a detached 2-storey home coming in just over $700,000. Oakville is still one of the most expensive places to live in the GTA.
There were 17 homes sales above $1,000,000. The average time to sell took a respectable 35 days.
There were 14 rental sales 3 of which were condo apts. September '10 had 71 rental sales.
Now that the power plant is no longer a threat to our community we and interest rate hikes are holding we will experience a renewed sense of activity in the market going forward.
There were 17 homes sales above $1,000,000. The average time to sell took a respectable 35 days.
There were 14 rental sales 3 of which were condo apts. September '10 had 71 rental sales.
Now that the power plant is no longer a threat to our community we and interest rate hikes are holding we will experience a renewed sense of activity in the market going forward.
Friday, October 1, 2010
September 2010
There were 206 sales this month down slightly over last month (214) and down dramatically from a year ago when there were 304 sales. However, the average price of a detached 2-storey home was $749,000. Up over last month's $703,000 and September 2009's $736,000. There were 92 2-storey sales and 24 bungalow sales.
The average days on market improved slightly at 37.
19 homes sold above the one million dollar mark.
There were 62 rental sales. 11 were for condo apartments. The average time on the market was 25 days.
Borrowing costs remain attractive and it looks like the Bank of Canada will refrain from further rate hikes to help out with the increased amount of consumer debt on the books.
The average days on market improved slightly at 37.
19 homes sold above the one million dollar mark.
There were 62 rental sales. 11 were for condo apartments. The average time on the market was 25 days.
Borrowing costs remain attractive and it looks like the Bank of Canada will refrain from further rate hikes to help out with the increased amount of consumer debt on the books.
Friday, September 3, 2010
August 2010 Sales Volumes
We saw a slight improvement over last month with 214 sales. Almost up 11%. This pales in comparison to a year ago when we transacted 300 sales.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
Monday, August 2, 2010
Oakville Sales Activity July 2010
The market continues to be very slow and showing activity is soft. Much more so than we normally see.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
Thursday, July 1, 2010
Cooler times are upon us
There were 270 sales in June. Down from this May's 350 sales however, 2-storey homes average sale price reached $794,000.
There were 27 sales above one million dollars compared to 21 a year ago. The average price (all types of housing was $610,000 up $100,000 from a year ago and $17,000 over last month.
The average time to sell continues it's upward trend over the last few months with 33 days for June.
Rentals activity was about the same as last June with 70 transactions.
5 year money can be had for 4.39% which is similar to June '09's 4.35%. 3 year variable is available at Prime less 65 basis points. Prime is 2.50%.
We are definitely in a balanced market. Showing activity has severely dropped off and the market seems much cooler than normal.
There were 27 sales above one million dollars compared to 21 a year ago. The average price (all types of housing was $610,000 up $100,000 from a year ago and $17,000 over last month.
The average time to sell continues it's upward trend over the last few months with 33 days for June.
Rentals activity was about the same as last June with 70 transactions.
5 year money can be had for 4.39% which is similar to June '09's 4.35%. 3 year variable is available at Prime less 65 basis points. Prime is 2.50%.
We are definitely in a balanced market. Showing activity has severely dropped off and the market seems much cooler than normal.
Friday, June 4, 2010
Oakville May 2010
There were 350 sales in May, down 14% from May '09 (398 sales). The average sales price (all types of housing) was $583,000. The average sale price for 2-storey homes was $729,000. It took on average 25 days to sell a home compared to 45 days a year ago. Which is normally pretty good however, that is up slightly from April 2010's 22 days and March's very "hot" 12 days.
We are seeing a cooling from the earlier Spring market excitement. The market is becoming more balanced as more listings come out and we are seeing a large number of price reductions as seller's try to get their homes sold.
The good news is prices are up year over year about 8%.
Mortgage money inched up with 5 year money being offered at 4.35%. The banks raised there longer term rates a 1/2 point. Variable money is still quite attractive and in the low 2% range depending upon the term. Rates are expected to climb another couple of points before yearend so we should see reasonably activity in the third quarter as sellers and downsizing boomers take advantage of these high prices.
We are seeing a cooling from the earlier Spring market excitement. The market is becoming more balanced as more listings come out and we are seeing a large number of price reductions as seller's try to get their homes sold.
The good news is prices are up year over year about 8%.
Mortgage money inched up with 5 year money being offered at 4.35%. The banks raised there longer term rates a 1/2 point. Variable money is still quite attractive and in the low 2% range depending upon the term. Rates are expected to climb another couple of points before yearend so we should see reasonably activity in the third quarter as sellers and downsizing boomers take advantage of these high prices.
Sunday, May 2, 2010
April 2010 Stats
There were 372 sales in April with 22 properties going above one million and 154 selling between $500,000 & one million. The average days on market was up from March at 22 days. In April 2009 there were 310 sales and in 2008 there were 360 sales.
There were 68 rentals transactions. 24 were condo apts and 21 were detached homes. The highest rental was $8,500 a month for an apartment at 111 Forsythe.
The ultra high end market is still quite slow as are properties which are being offered as land value for new build situations.
Long term rates have edged up. 5 year money can be had for 4.29% with variable money offered at 1.75%. Prime is still 2.25%.
There were 68 rentals transactions. 24 were condo apts and 21 were detached homes. The highest rental was $8,500 a month for an apartment at 111 Forsythe.
The ultra high end market is still quite slow as are properties which are being offered as land value for new build situations.
Long term rates have edged up. 5 year money can be had for 4.29% with variable money offered at 1.75%. Prime is still 2.25%.
Sunday, April 11, 2010
12 Days on Market
March proved to be another successful month with 351 sales and the average days on market was just under 12.
Comparing to March 2008 there were 17 sales over $1,000,000. The same as in 2008. March '08 had 286 sales taking 27 days to sell on average.
This March 141 homes sold between $500,000 and one million compared to 123 in March '08.
There were 150 2 storey sales and 53 bungalows sales with average sale prices of $698,000 and $550,000, respectively. March 2008 saw 123 2 storey sales averaging $ 639,000 and 28 bungalow sales with an aveage price of $552,000.
There were 76 rentals this March compared to 43 in 2008.
Mortgage money is up slightly for longer term loans. 5 year money costs 4.18% however, variable rate loans are still very attractive at 1.75%.
April has seemed to be somewhat slower so far but we will soon see how the numbers fair.
Comparing to March 2008 there were 17 sales over $1,000,000. The same as in 2008. March '08 had 286 sales taking 27 days to sell on average.
This March 141 homes sold between $500,000 and one million compared to 123 in March '08.
There were 150 2 storey sales and 53 bungalows sales with average sale prices of $698,000 and $550,000, respectively. March 2008 saw 123 2 storey sales averaging $ 639,000 and 28 bungalow sales with an aveage price of $552,000.
There were 76 rentals this March compared to 43 in 2008.
Mortgage money is up slightly for longer term loans. 5 year money costs 4.18% however, variable rate loans are still very attractive at 1.75%.
April has seemed to be somewhat slower so far but we will soon see how the numbers fair.
Monday, March 1, 2010
No sign of let up!
This February had almost 100 more sales than in January with 281 sales and during a shorter month. The average sale price was $580,000 (all types of housing) with 2 storey homes averaging $757,000. 21 homes sold above a million dollars and 120 properties sold between $500,000 and a million. The average time on market was very quick at 21 days.
Best not to compare to last February's results but even if you go back to 2008 you will find sales volumes were up 18%.
Financing remains very favourable. The banks of course have tighten up their lending policies.
Best not to compare to last February's results but even if you go back to 2008 you will find sales volumes were up 18%.
Financing remains very favourable. The banks of course have tighten up their lending policies.
Friday, February 5, 2010
Sales still strong
January 2010 had 189 sales at an average sales price of $577,000 for all types of housing. The average time on th market was 33 days. This is in line with January 2008 when we had 196 sales. Last January during the recession we only had 86 sales.
Most of these sales were for properties valued below $700,000 (150) although we had one sale go through at $4,200,000. There were 18 sales above one million dollars.
Detached 2 storey homes are staying above the $700,000 mark with January's 2010 average at $731,000.
There were 52 rental sales during the month, similar to December 2009 volumes.
Interest rates have trended slightly lower with 5 year money available as low as 3.69% and variable rate lending at 2%. Hard to beat. We should see continued record sales volumes in the months ahead.
Most of these sales were for properties valued below $700,000 (150) although we had one sale go through at $4,200,000. There were 18 sales above one million dollars.
Detached 2 storey homes are staying above the $700,000 mark with January's 2010 average at $731,000.
There were 52 rental sales during the month, similar to December 2009 volumes.
Interest rates have trended slightly lower with 5 year money available as low as 3.69% and variable rate lending at 2%. Hard to beat. We should see continued record sales volumes in the months ahead.
Sunday, January 3, 2010
Record December sales volumes
Sales volumes finish off the year strong. December 2009 had 162 sales compared to 79 and 137 for December 2008 and 2007, respectively. That's double 2008 levels and almost 20% more than the previous record in 2007. Properties took 32 days to sell on average compared to 57 & 41 days for December 2008 and 2007.
There were 51 rental sales during the month. 12 were for condo apartments of which the 2 highest were $5,000 & $2,700 a month.
Interest rates trended slightly lower from recent months with 5 year money at 3.79%, variable at 2.10% and 10 year mortgage money at 5.30%.
The average price for a 2-storey homes was $702,000 down from November 2009's $791,000, October's $767,000 and September's 736,000. But still the same as December 2007's $703,000 and above December 2008's $639,000.
There were 20 bungalow sales in December '09 compared to 9 in 2008 and 14 in 2007. All in all an excellent month.
There were 51 rental sales during the month. 12 were for condo apartments of which the 2 highest were $5,000 & $2,700 a month.
Interest rates trended slightly lower from recent months with 5 year money at 3.79%, variable at 2.10% and 10 year mortgage money at 5.30%.
The average price for a 2-storey homes was $702,000 down from November 2009's $791,000, October's $767,000 and September's 736,000. But still the same as December 2007's $703,000 and above December 2008's $639,000.
There were 20 bungalow sales in December '09 compared to 9 in 2008 and 14 in 2007. All in all an excellent month.
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