Sunday, January 1, 2017

4th Quarter 2016

We open the new year the same way we started last year, with a Seller's market.

Our president, Phil Soper, is forecasting an increase in the 10% range for 2017.  Hard to believe prices will continue on that pace but we have seen an Oakville price increase of almost 8% since the 2016 3rd quarter results. The average sale price for a detached 2-storey home was $1323000 and has risen to $1426000 for Q4. Add to that the low inventory 96 sales in Q4 compared to 143 in Q3 and attractive financing for move up Buyer's, you can certainly believe it.

Homes general sold in less than 20 days, 2 days quicker than Q3.

The average sale price for a detached bungalow was $979000 while condo apartments sold on average for $563000.

Fasten your seat belts!

HAPPY NEW YEAR!