We may just have an active Fall market given the recent luxury property quick sales.
Even though many buyers are waiting to see where prices will settle, some families are going ahead with their moving plans because they realize that over time home prices will eventually rebound and they want to get on with their lives. It does make sense for first time buyers to wait a little longer, but for those moving up or down they can continue on with their plans because what they are selling or buying will be similarly effected.
A less than 5 year old new build went in 1 day for full price as did a couple of high end downtown condo apartments one fetching $5.5 million.
This is a pleasant surprise given the lacklustre proceeding months activity.
The average price for a detached 2-storey home was up approximately 3.5% to $2,366,524 and most homes and condo's sold in less than 30 days.
For sale and for lease volumes are still low at 88 and 70 for the month, respectively.
The average sale price for a detached bungalow was surprisingly above $2mm a big jump from the $1.6 range a year ago.
The 2 greater than $3mm downtown Oakville condo apartments that sold increased the average sale price to over $1.4mm.
Freehold and condo townhomes sold for $1,083,000 and $807,375 while semi detached average a sale price of $1,311,167.
September will likely be active.
