With the elections behind us we can all now focus on our lives, family and work.
Although real estate prices have been softening for the most part over the last year we have seen a slight bump in sales volumes, so that is encouraging. In addition warmer weather is upon us which will bring out more buyers shopping for homes. It is a buyers market with reasonable choice for most styles of homes and areas. And in a buyers market it does take longer to sell (on average) with only a trace of multiple offer activity.
At the moment there are 1,395 apartments and homes for sale and 751 for rent in Oakville. Lat month we saw 213 sales and 415 leases.
The average price of a detached 2-storey home fell below the $2,000,000 mark for the first time in a couple of years to $1,999,227. A year ago the average sale price was $2290,063 a drop of almost 15%. Here are the April numbers;
2024 2025 % change
Det 2-storey $2290063 $1999227 -15
Bungalows $1477450 $1354500 -9
Condo apts $779656 $626793 -24
Condo THs $1244500 $905125 -37
Freehold THs $1168786 $1094150 -7
Semi-Det $1466667 $1187429 -23
Split Level $1424571 $1434000 +1
Linked $1062000 $1345333 +36
Stacked THs. $711333 $684500 -4
Split level and linked home sales took the prize for the month with year over year percentage gains. Together they only represented 5 sales. And don't be dismayed by the larger percentage decrease property types as there were more lower priced properties trading which enhanced their decline.
The rental market was more active than last year with 482 properties leased up from 415 in April 2024. Some of these leases however came from sellers who hedged themselves by putting their properties up for sale and for lease and choosing the best option for their circumstances.
At the end of the day the Trump tariffs, which are still ongoing, will make Canada stronger and more independent.
