There were a respectable 222 sales during November and 59 rental sales. The average time to sell & rent was 35 & 23 days, respectively. The 35 days on market is better than a year when it took 5 days longer but about a week slower than this October's 27 days.
The average price for a detached 2-storey home was $775,000. That is down $20,000 from this October and almost $40,000 or, about 5.50% from a year ago. 16 homes sold above one million dollars w/14 of those selling below $1.6 million with only one sale above $2,000,000 which went for $2,300,000. The ultra luxury market segment, those homes selling above 1.8 million dollars has been extremely quiet.
The 222 sales during the month were up about 10% from Nov '2010's 201 sales but lower than this October's 263 sales. Volumes do trend lower as we approach the holiday season. Considering Europe's financial distress and gloomy news prices are holding up well and volumes, save for the ultra luxury segment, are very good.
Five year mortgage money can be had at 3.39% almost 2 points below the bank posted rates while comparable variable term mortgage money costs about 2.90%. The Canadian bank prime rate remains at a low 3% and as you may know expected to remain low as per the economic short to mid term forecast.
Thursday, December 1, 2011
Tuesday, November 1, 2011
October 2011 Sales Activity
All in all an excellent month with 263 sales. 28 homes sold above $1,000,000. 17 of those went below $1.5 million and one sold above $2 million. There were also 66 rental properties leased which is very active for this time of the year. And the average time on the market was 27 days.
Compare that to a year ago and you would find 201 sales and 14 rentals leased.
The average price of a 2 storey home was $795,000. No doubt we are one of the most expensive areas to live in Metro.
October sales volume was also significantly better than September 2011. Who would have predicted this activity given the gloomy state of Greece, Europe and the USA.
Mortgage money is going to stay very attractive as a result of the global picture. At the moment you can get 5 year money around 3.30% and variable as low as 2.60%.
Compare that to a year ago and you would find 201 sales and 14 rentals leased.
The average price of a 2 storey home was $795,000. No doubt we are one of the most expensive areas to live in Metro.
October sales volume was also significantly better than September 2011. Who would have predicted this activity given the gloomy state of Greece, Europe and the USA.
Mortgage money is going to stay very attractive as a result of the global picture. At the moment you can get 5 year money around 3.30% and variable as low as 2.60%.
Saturday, October 1, 2011
September 2011
Sales volumes this September were up 8.5% year over year with 223 sales but down slightly from this August's 226 sales. The average time to took to sell was about 28 days which is quicker than August 2011 & Sepetmber 2010 where it took 33 and 37 days to sell on average, respectively.
There were 92 detached 2 storey sales w/an average price of $781,000. There were 31 detached bungalow sales with an average price of $573,000, while Freehold THs saw 36 sales w/an average price of almost $470,000 and 20 condo apartments sold w/an average price of almost $275,000.
The rental activity was off with only 57 rentals during the month compared to 89 this August and 62 in September 2010.
The number of sale for homes above one million remained steady with 18 sales this month compared to 19 a year ago. Only 3 homes sold at or above the 2 million dollar mark with the highest sale during September coming in under 2.5 million.
There were 92 detached 2 storey sales w/an average price of $781,000. There were 31 detached bungalow sales with an average price of $573,000, while Freehold THs saw 36 sales w/an average price of almost $470,000 and 20 condo apartments sold w/an average price of almost $275,000.
The rental activity was off with only 57 rentals during the month compared to 89 this August and 62 in September 2010.
The number of sale for homes above one million remained steady with 18 sales this month compared to 19 a year ago. Only 3 homes sold at or above the 2 million dollar mark with the highest sale during September coming in under 2.5 million.
Thursday, September 1, 2011
August 2011
A decent August with 226 sales up slightly from August 2010 when there were 214 sales. The average price for a 2-storey home was $819,000 and there were 93 sales. It took on average 33 days to sell homes & condo's which is faster than the 39 a year ago.
There were 89 rental properties sales, same as this July. Of those, 21 were condo apartments. Rental prices ranged from $1245 for a 1BR condo apartment at The Lighthouse in Bronte to
$6850/mth for a detached home on the lake, also in Bronte .
27 bungalows sold at an average price of $617,000 or, 76% of the cost of a 2-storey home.
5 year money is very cheap right now at 3.44%. Variable mortgage money remains attractive in the 2.25% range.
There were 89 rental properties sales, same as this July. Of those, 21 were condo apartments. Rental prices ranged from $1245 for a 1BR condo apartment at The Lighthouse in Bronte to
$6850/mth for a detached home on the lake, also in Bronte .
27 bungalows sold at an average price of $617,000 or, 76% of the cost of a 2-storey home.
5 year money is very cheap right now at 3.44%. Variable mortgage money remains attractive in the 2.25% range.
Wednesday, August 3, 2011
July 2011
There were almost 100 more sales this July than in 2010 with 289 sales. This is more in line with sales volumes for the July 2008 + 2009. Most of that (180 sales) were for homes & apts which sold for less than $600,000.
The average price of a detached 2 storey home was $796,000. Last July that average was $712,000.
The average time on the market was 29 days for all types of housing. Properties selling above one million took an average of 67 days to sell.
You can still get a detached 3BR single car garage home in the range of $450,000 to $600,000, mostly in Northwest Oakville. And you can get some older 4BR double car garage detached home plans starting in the low 5's in the Falgarwood area, but pickings are slim.
The rental market remained active with 89 sales 19 of which were for condo apartments.
Mortgage money is still very attractive with 5 year money available as low as 3.69% & variable is available at 2.25%.
The average price of a detached 2 storey home was $796,000. Last July that average was $712,000.
The average time on the market was 29 days for all types of housing. Properties selling above one million took an average of 67 days to sell.
You can still get a detached 3BR single car garage home in the range of $450,000 to $600,000, mostly in Northwest Oakville. And you can get some older 4BR double car garage detached home plans starting in the low 5's in the Falgarwood area, but pickings are slim.
The rental market remained active with 89 sales 19 of which were for condo apartments.
Mortgage money is still very attractive with 5 year money available as low as 3.69% & variable is available at 2.25%.
Tuesday, July 5, 2011
June 2011 stats
There were 354 sales in June up from a year ago when we had 270 sales but down slightly from this May's 388 sales, for all types of housing. There were 162 2-storey home sales at an average price of $769,000 and at a respectable 25 days on the market. Condo apartment sales took
50% longer at 36 days on average on average and there were 35 sales this June.
The rental market was fairly busy with 89 sales.
26 homes sold above $1,000,000 and that's in line with June 2010's 27 sales.
The market has become softer with summer upon us and we are seeing a little more price cutting as Seller's put the push on to get their homes sold. Also, the banks are in the process of increasing fixed mortgage rates (only) anywhere from 5 to 15 basis points, which means 5 year money will be offered somewhere between 3.69% and 4.04% depending upon whom you back with. These mortgage rates are still very attractive. A year ago, 5 year money was 4.39%.
We are looking forward to increased activity starting about the third or fourth week of August. The fall market in Oakville has always been very strong.
50% longer at 36 days on average on average and there were 35 sales this June.
The rental market was fairly busy with 89 sales.
26 homes sold above $1,000,000 and that's in line with June 2010's 27 sales.
The market has become softer with summer upon us and we are seeing a little more price cutting as Seller's put the push on to get their homes sold. Also, the banks are in the process of increasing fixed mortgage rates (only) anywhere from 5 to 15 basis points, which means 5 year money will be offered somewhere between 3.69% and 4.04% depending upon whom you back with. These mortgage rates are still very attractive. A year ago, 5 year money was 4.39%.
We are looking forward to increased activity starting about the third or fourth week of August. The fall market in Oakville has always been very strong.
Thursday, June 2, 2011
May's activity
Sales volumes were up 11% from a year ago and 23 % from last month with 388 homes & apartments changing hands. 36 of these sales were for condo apts and 40 were for bungalows.
The average price for a detached 2 storey home was $794,000. The average time on the market was 24 days.
The most expensive home sale was $3,425,000. 40 homes sold above one million dollars.
There were 74 rental sales. The cheapest was for a 1BR condo apt in College Park which went for $1250. The most expensive rental went for $9,200 for a home in Southeast Oakville.
The average price for a detached 2 storey home was $794,000. The average time on the market was 24 days.
The most expensive home sale was $3,425,000. 40 homes sold above one million dollars.
There were 74 rental sales. The cheapest was for a 1BR condo apt in College Park which went for $1250. The most expensive rental went for $9,200 for a home in Southeast Oakville.
Tuesday, May 3, 2011
April '2011
Sales volumes are down 18% from last year with 316 sales this April but they are consistent with March '2011 sales columes. There were 50% more sales above the $1,000,000 mark with 31 sales.
The average days on market was 29. You can multiple that by at least 3 for properties above the million mark.
The average price of a 2-storey home was $848,000. Oakville is very sought-after.
There were 68 rental sales ranging in price from $1,250 to $7,900/mth. 11 were for condo apartments, the highest apartment rented for $3,400/mth.
At the moment the cheapest detached 2-storey home available is offered at $385,000 and it is in College Park. The highest priced detached home is for a lakefront estate in Southeast Oakville offered at $22,000,000.
The cheapest bungalow available is offered at $375,000 in West Oakville, while the most expensive is offered at $5,100,000 in Southeast Oakville. The cheapest Freehold TH is offered at $277,000 and the most expensive is offered at $1,900,000 and is in Central Oakville, south of Lakeshore Road. And for condo apartments the cheapest one available is asking $169,000 in Falgarwood and the most expensive is asking $2,900,000 located in downtown Oakville.
The average days on market was 29. You can multiple that by at least 3 for properties above the million mark.
The average price of a 2-storey home was $848,000. Oakville is very sought-after.
There were 68 rental sales ranging in price from $1,250 to $7,900/mth. 11 were for condo apartments, the highest apartment rented for $3,400/mth.
At the moment the cheapest detached 2-storey home available is offered at $385,000 and it is in College Park. The highest priced detached home is for a lakefront estate in Southeast Oakville offered at $22,000,000.
The cheapest bungalow available is offered at $375,000 in West Oakville, while the most expensive is offered at $5,100,000 in Southeast Oakville. The cheapest Freehold TH is offered at $277,000 and the most expensive is offered at $1,900,000 and is in Central Oakville, south of Lakeshore Road. And for condo apartments the cheapest one available is asking $169,000 in Falgarwood and the most expensive is asking $2,900,000 located in downtown Oakville.
Friday, April 1, 2011
March 2011
The number of sales is on an upward trend for the first quarter of 2011 with March coming in with 321 sales. January had 175 sales while February recorded 238 sales. The average price for a detached 2-storey home was $707,000 while detached bungalows averaged $621,000. A year ago those numbers were $698,000 and $550,000, respectively. The average time on the market was 25 days which is very good. Rental sales although they have dropped year over year to 62 from 76 are holding at that sales volume level through the first quarter. 25 homes sold above $1,000,000 with the highest at $2,575,000. Interest rates have edged up slightly with 5 year money attainable at 3.94% which is better than last year's 4.18%.
Wednesday, March 2, 2011
February 2011
Sales volumes were 238 down from 281 in 2010 but way up from this January's 175 sales. The average sales price of a detached 2-story home was $800,000, a healthy number and up from the $757,000 a year ago. That's almost a 6% sales price increase which unfortunately makes it difficult for those families trying to get into a detached home. January '2011 sales average was slightly higher at $807,000. But you can safely say that prices are holding.
The average days on market was 31 up from 21 last February. But a month is still very quick.
25 homes sold above the million dollar mark in February with 4 above $2,000,000. Among those upper end sales the highest was $8,000,000* for a Southwest Oakville lakefront estate. This of course continues to support the incredible attraction that Oakville offers.
Rental properties kept in line year over year with 62 rentals sales versus 61 last year. Sales went from $1,175 to $5,800.
The good news is there is a very positive energy in the market place and we are seeing a few multiple bid situations as a result. At the same time we are also seeing alot of new properties coming to market and the existing balanced market may soon turn into a buyer's market.
*I backed out the $8,000,000 sale to make more sense of the numbers. Had I not, the average sale price for a detached 2 storey in February would have been $929,000.
The average days on market was 31 up from 21 last February. But a month is still very quick.
25 homes sold above the million dollar mark in February with 4 above $2,000,000. Among those upper end sales the highest was $8,000,000* for a Southwest Oakville lakefront estate. This of course continues to support the incredible attraction that Oakville offers.
Rental properties kept in line year over year with 62 rentals sales versus 61 last year. Sales went from $1,175 to $5,800.
The good news is there is a very positive energy in the market place and we are seeing a few multiple bid situations as a result. At the same time we are also seeing alot of new properties coming to market and the existing balanced market may soon turn into a buyer's market.
*I backed out the $8,000,000 sale to make more sense of the numbers. Had I not, the average sale price for a detached 2 storey in February would have been $929,000.
Saturday, January 1, 2011
December 2010
Prices are holding with the average 2-storey home in Oakville selling for $786,500. Sales volumes were down 30% with 124 sales this month compared to 162 last year. But not bad when compared to Dec 08 & 07 when we had 79 & 137 sales respectively.
11 homes sold above 0ne million with the most expensive, a beautiful lakefront mansion in Southwest Oakville going for just under $4.2 million.
In addition, to the 124 sales there were 42 homes & condo's rented. Ten of which were condo apartments.
Average days on market did increased to 50 from this November's 40. Still not too bad.
Financing is still very attractive with 5 year mortgage money available at 3.74% and variable rates at 2.30%.
It should be interesting to see how the market fares over this next quarter.
11 homes sold above 0ne million with the most expensive, a beautiful lakefront mansion in Southwest Oakville going for just under $4.2 million.
In addition, to the 124 sales there were 42 homes & condo's rented. Ten of which were condo apartments.
Average days on market did increased to 50 from this November's 40. Still not too bad.
Financing is still very attractive with 5 year mortgage money available at 3.74% and variable rates at 2.30%.
It should be interesting to see how the market fares over this next quarter.
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