Although sales volumes were off 7% from this time last year the average price of a 2 storey home was $974,000. Up 8.5%. The Oakville sales volumes are not as bad as many other pockets of metropolitan Toronto as reported by the media.
Fifty homes sold above $1,000,000 with 11 above $2MM, which included 2 above $4MM & 1 above $5MM. Whose on first?:)
As you can see the luxury market is very active. Many of the buyer's are coming from China as the Chinese have obviously given Oakville a stamp of approval for being a safe and pleasant community to live in and raise a family. Oakville is also a short/easy commute to Toronto.
There were also 90 rental transactions & 24 of those involved condo apartments. Similar volumes to last year.
Financing remains very attractive with 5 year mortgage available as low as 2.79% & variable money at 2.60%. Last year at this time those rates were 3.19% & 2.90%, respectively. Hard to beat!
