The hot market continues in April

There were 395 sales in April up 11% over the last 2 months and 25% over April 2011.

The average price for a 2 storey home was $908,000 an increase of 7% in the last 30 days scewed slightly upwards by a couple of $5,000,000 sales. 52 homes sold above the one million dollar mark almost double february & March's activity.  9 of those were in Old Oakville but interestingly there were no sales between $1,625,000 & $2,500,000. 4 sold between $1,135,000 & $1,625,000 & 5 above $2,500,000. 

It is still a seller's market for properties listed at $1.3 million or below & a buyer's market for higher priced properties.  We have seen some significant price reductions for the ultra luxury market segment, generally those price above $2,000,000.

The time to sell took on average 24 days.

5 year financing can be had at 3.29% or perhaps a little better if all you bank business is at one institution. 5 year variable is 2.90%.