Things are still on the slow side in Oakville real estate but at least there is reasonable activity. This December there were 76 sales compared to 146 during December 2007. So the sales volume is almost half of what it was a year ago. The average time on the market for the December 2008 sales was 53 days. This number is actually considerably higher as it does not take into account the instances when a property is cancelled and relisted which resets the days on market back to zero.
The rental market fared better. There were 37 homes and apartments rented this December compared to 36 in December 2007. At the moment there are approximately 200 homes and apartments up for rent ranging in price from $1,100 to $15,000 per month.
2008 has turned out to be a difficult year in real estate as a result of a dismal 4th quarter activity. Let's hope that 2009 turns out to be better.
