Gone are the days of multiple Offers. And here to stay for a good while is a balance/buyer's market.
Our inventory levels are healthy with 445 properties for sale. 72 of those are condo apartments. If you were interested in acquiring a detached home in Southeast Oakville the cheapest homes available at the moment are $1100000/$1250000/$1500000 for Ford/Old Oakville & Morrioson areas, respectively.
This quarter saw sales volumes and price movement year over year as follows;
Type 3rd Qtr 2017 3rd Qtr 2016 Percentage change
Vol / Price
D-2 storey 99/$1392K 143/$1323K -45% / +5%
D Bung's 20/$1106K 43/$933 -110% / +18%
C-apts 33/$562
Sales prices for condo apartments were essentially flat since Qtr 2 2017, and up slightly by a single percentage point. Average prices were down however for detached 2-storey homes and bungalows by 12.5% and 10% respectively. We will see what the fourth quarter brings.
On the rental side there are 151 properties available. Of those 29 are condo apartments.
Financing is a little more expensive year over year. Variable rates are up 20 basis points to 2.40% and 5 year mortgage money is available at approxinately 2.79% up from 2.35% last year.
