Thursday, September 3, 2026

August 2026

Hello again.

This summer has flown by.

At the moment there are 985 homes and condos for sale and 418 for lease, and during the month there were 199 sales and 493 properties leased.

The average price of a detached 2-storey home dropped below the two million dollar mark to $1,911,593.

Bungalows average sale price was $1,064,222, detached split and 1.5 storey homes averaged $1,193,000 while freehold THs, Linked and semi-detached homes averaged $967,818 $1,097,000 and 978,300.

On the condo front apartments, THs and Stacked THs averaged $570,909 602,353 and $555,875.

And as seller you have to pack your patience as it take far longer to sell.   Many taking 3, 4 or more than 5 months to sell.  Not too many quick sales to talk about.

The Fall market has arrived early and there are signs that sales volumes, prices and showing activity will improve.  And interest rates have not increased.

You get the feeling that buyers and sellers are going to go ahead with their housing plans even though the war in Iran and economic chaos still exists.




Saturday, May 2, 2026

April 2026

Welcome back.

At the moment there are 752 homes and condo's for sale and 342 for lease.  A year ago those numbers were 1,395 and 751 respectively.  As for April sales there were 167 homes and condos change hands and 275 leases.  Those numbers are down from April 2025's 213 and 415, respectively.  Percentage wise they are down 27% and 50%.

April saw some upward momentum in both price year over year for certain housing categories.  Detached 2-storey homes averaged $2,142,384 a 7% increase.  Split level homes averaged $1,693,000 up 18%.  While freehold townhomes averaged $1,119,136  2% up.   Also a few properties had multiple offers.  In some of those instances it occurred as a result of the sellers lowering their asking prices to a level which would entice interest buyers to put pen to paper and make an offer.  Still a good sign that buyers are back,  and warmer weather is almost upon us as well which will spur on more house hunting activity.

Those housing types that didn't fare as well year over year were as follows;  bungalows averaged $1,272,818 down 6%.  Semi-detached homes averaged $1,137,200 down 4%.  Linked homes averaged $1,325,500 down 1.5%.  And stacked townhomes and condo apartments averaged $611,200 and $504,333 or, down 24% and 12% respectively.

There is still lots of economic chaos in the world which is causing a lot of families to hold off on their moving plans or, even shelve them altogether.  Also interest rates may have bottomed out with no recent rate change, and there is even talk of them perhaps rising in future months which may cause further angst.

Sadly it doesn't look like the war in Iran will be ending soon.




Thursday, April 9, 2026

March 2026

Spring has arrived and so has more interest in the market with the start of more traffic to open houses...

As well we have see an uptick in number of sales and leases year over year with 198 sales and 413 leased properties this March.  Up from 179 and 340, respectively.   And while prices were overall down in most of the housing categories it was not by much.  The average price for a detached 2-storey home dropped less than 5% to $1,943,343 remaining close to the two million dollar mark.

The average sale price for a bungalow was $1,451,538, up slightly by 2%. 

Also positive is the likelihood that the liberal party will obtain a majority government.  We will know the results in a few days.  This will give our government more weight in dealing with international affairs. 

The fact that Canada is becoming less dependent on the U S A and is exploring more trade options with other countries bodes well for our future.

The current ceasefire on the war in Iran which the U S A initiated has created some temporary relief and hope in the world.  We shall see how it all unfolds.  Here's hoping sound leadership prevails in the end.




Sunday, March 1, 2026

February 2026

Like last year at this time both sales and leases took longer to complete.  And they still do.  The frigid temperatures did not help increase showing traffic.

The rental market had 290 leases down from 307 a year ago ranging in price from below $1,000 a month for a small basement apartment ( of which there were several this month) to $15,000 a month for a luxury home in the Morrison area of Southeast Oakville

The luxury segment took somewhat of a pause as well with only 14 properties out of the months 150 sales exceeding the two million dollar mark.

The average price of a detached 2-storey home was $1,995,571 down 12% from a year ago with 49 homes changing hands.   Bungalow style homes average sale price was $1,236,667 down 37% with 6 sales.

Other styles of housing results were as follows;

Condo apartments came in at $573,583 Condo THs $801,800 Freehold THs $1,420,555 and semi-detached averaged $1,037,100.  A bright spot was both the condo and freehold THs were up year over year.

There were no link home sales and stacked THs came in at $592,500.

The tariff saga still remains unresolved and now we await to see what repercussions may be from the recent US attack on Iran.   There has been positive press releases, so we shall see.

Expect to see more activity as the weather improves as more buyers and sellers get on with their plans and enter the market.

Thursday, January 1, 2026

December 2025

Happy New Year!  Heres to better tariff relations with the U S A and to more interest rate cuts.

Typical of December trading volumes were low and that included leasing activity as well.

Case in point there was only one property leased during the month, a detached 2-storey in Falgarwood that previously had rented for $400 a month more only 18 months ago and now leased for $3,900/mth. That's a 10% reduction.  And there is still a lot of choice with 717 homes and condos available to lease.

For sale activity was also extremely low with 128 properties selling compared to 201 a year ago.   There is also plenty of inventory to choose from with 705 properties available for sale.

Here's how the year over year numbers look;

                                                      2024                                 2025                  % change

Detached 2-storey                    $2,310,340                        $1,719,294               - 34

Bungalows                               $1,505,875                        $1,463,000                - 3

Split Level Homes                   $1,385,750                        $1,455,000                + 5

Linked Homes                         $1,059,000                              

Semi-detached                         $1,040,667                         $1,084,000               + 4

Freehold THs                           $1,184,026                         $1,374,909               + 16

Condo THs                               $841,571                            $674,250                  - 25

Stacked THs                             $644,000                            $647,500                  + 1/2

Condo Apartments.                  $666,294                            $576,944                   - 11

The average Freehold TH sale would have been about $200,000 less if you backed out the two downtown new development sales which sold for over $8mm combined.  

November 2025's 211 sales was substantially higher than this December and better than November 2024 141 homes and condos sales.

It appears that selling prices have pretty much bottomed and I expect sales will begin to pick-up by mid-month as buyers decide to go forward with their housing plans and needs.  

It is definitely nice to not have to compete for most homes.

                             

Wednesday, December 3, 2025

November 2025

Welcome.

This November the busiest part of the market were leases, all types, and sales of freehold townhomes.

There were 328 properties leased in November up almost 11%  211 sales transactions of which 48 were for freehold townhomes.

Here's how the rest of November sales went;

                                              November 2024                    November 2025                 % change

Detached 2-Storey                  $2,657,043                             $1,885,365                          - 41

Detached Bungalows              $1,754,300                             $1,407,895                          - 25

Split Level Homes                  $1.669,417                             $ 1,794,167                         + 7

Linked Homes                        $1,197,500                             $1,238,000                          + 3

Semi-Detached                       $1,033,500                             $1,057,800                          + 2

Freehold THs                         $1,187,333                              $1,251,250                          + 5

Condo THs                             $788,500                                $736,400                              - 7

Stacked THs                           $626,167                                $579,500                              - 8

Condo Apartments                 $850,542                                $665,250                              - 2

The average time it took to sell was almost 7 weeks or, more precisely 39 days.  This number would be significantly higher if you factored in the number of times sellers cancel and relist their homes and apartments in order to get them sold.  In some cases sellers resort to relisting multiple times usually setting a lower asking price than the last one.

Now that we have reached December activity will wane until the year.  I expect January to be busy.

There is still ample inventory available and if you are considering a purchase you should be able to strike a good deal.

Enjoy the holidays and look forward to a more robust 2026!


Sunday, November 2, 2025

October 2025

 Welcome back!

This October saw prices down from a year ago while up from last month.

The average sale price of a detached 2-storey home rose 2% from this September to $1,912,161 and there were 93 sales also up for last month's 69 sales.  Year over year however the price in this category dropped 16.5%.

Bungalow prices were also down by 20% to an average price of $1,285,435.  This reduction also reflects a number of "land sale" bungalow properties where the buyer wishes to build a new home.

Detached split homes and properties fared better at an average sale price of $1,404,364.

Semi-detached and linked homes (virtually detached) came in at $1,159,733 and $1,198,000, respectively.

Condo apartments townhomes and stacked townhomes came is at $525,550 / $812,368 / $597,000.  Down 42% / 10% & 11%.

Freehold townhomes average sale price was $923,400.  Down almost 30%.

The lease market saw 151 rental transactions ranging in price from $1,700 to $16,000 per month.

At the moment there are 765 for lease properties available to rent and 1,282 for sale.

While the majority of owners are experiencing a softer quiet market a few have managed to sell or lease quickly.

The recent interest rate reduction may help a little but don't expect the overall feel of the market to change.  

Things are indeed slow and will likely remain so until the start of the new year.  

On a positive note it is a good time to buy.



Thursday, October 2, 2025

September 2025

Hello again.

We still have a variety of choice for both leasing and purchasing with 632 properties for lease and approximately 1,350 homes and condos for sale.

September sales were up year over year with 182 properties changing hands but down slightly from this August.  The lease market was also very busy with 390 homes and condos rented.  

Prices on the other hand were down from a year ago pretty much across the board no matter what home style.  Bungalows and Freehold THs were the exception.  Case in point: detached 2-storey homes went up in sales volume from 40 to 69 but the average sale price fell significantly from approximately $2,400,000 to below $1.9mm.  Most of that drop is associated with the fact that more lower value homes happen to transact rather than prices falling.  Of course economic dismal news and tariff effect were in the mix as well.   Noteworthy we have only fallen below the $2,000,000 average mark for detached 2-storey homes a handful of months over the past three years.  Most of the time we have been above that threshold.  In addition, interest rate cuts so far haven't had the positive effect on pricing as one would expect.  We will see what happens at the end of October when the next rate cut is expected.

Here's how the sales averages ended up for September base on property type;

Detached 2-storey.  $1,875,304

Bungalows              $1,303,400

Split level                $1,471,750

Semi-detached.        no transactions

Linked homes          $980,000

Freehold THs           $1,089,032

Condo THs               $820,923

Condo Apartments   $595,200

Stacked THs             $632,667

Perhaps October's sales activity will show signs of an improving market.  Stay tuned!





Tuesday, September 2, 2025

August 2025

Hello again!

Sales prices were down slightly from a year ago.   In August 2024 the average detached 2-storey selling price was $2,176,711.  This August it was $2,116,700 a drop of almost 3%.  In August 2023 the average price was $2,037,500.  So holding nicely above the two million mark.  

The market was relatively active with 199 sales (all types of homes) a few of which went for over asking. You probably wouldn't expect that.  

Of the 1,274 homes and condo's for sale 2/3's are asking over a million dollars.

The lease market was busy with 493 properties rented during the month, the highest going for just over $10,000 plus utilities for a detached home in Southeast Oakville.  At the moment there are 613 available properties to lease.

Other types of properties averaged as follows;

Bungalows $1,430,614 / Split level $1,630,500 / Freehold THs $1,114,053 / Condo THs $1,018,000

Condo apartments $820,947 / Semi-detached $1,024,286 / Linked homes $1,107,000 and Stacked THs $545,000.

The Fall market is usually very good and is a pretty time of the year to showcase your home and property. Expect a busy September with more inventory and sales.  


Monday, August 4, 2025

July 2025

Hello again!

July was not too busy which is typical for prime summer holiday time.  Yet some families were moving home locations.  Here's how the numbers ended up.

Detached 2-storey                      $1,782,324

Bungalows                                 $1,768,588

Splits                                          $1,370,100

Semi-detached                           $1,030,333

Linked homes                            $1,199,000

Freehold THs                            $1,015,265

Condo THs                                $714,944

Stacked THs                              $614,889

Condo apartments                     $584,062

Year over year detached 2-storey homes prices are down about 4%.  And most other categories of homes are down as well.  

At the moment there are 1,373 homes and condo's for sale and 698 for lease.  Reasonable choice for most buyers.  And the rental market saw 586 lease sales...which was extremely busy.

August should prove to be equally slow and that's normal.  

The Fall market however, is usually very good.  This year could be quieter do to President Trump's tariff threats and chaotic actions.  Those that do offer on properties will do their best to get a good deal (and many people have).  In short, it is a great time to buy.


Tuesday, July 1, 2025

June 2025

Summer is finally upon us and buyers and renters are out looking.  And there is ample choice.  At the moment there are 1,482 homes and condo's for sale and along with 702 for lease.  Clearly a buyers market in most pockets.   And June saw another 1,144 new listings added.  A year ago at this time there were 538 properties for sale and 105 for rent. 

Nevertheless, demand is reasonable with 235 sales and 535 leases in June.  And the average selling time was 28 days.  And those property owners with exclusive locations coupled with renovations and updates  have experienced some multiple bids.  We also saw 6 homes sell above the $4,000,000 mark.

Sales prices have adjusted slightly downwards with the average price for a detached 2-storey home dropping 1.5% month over month to $1,995,989 and down 4% year over year.

Buyers confidence is being impacted by economic uncertainty and high interest rates. 

Sellers are adviced to price competitively and ensure their properties are well maintained both inside and out to attract buyers.  Those that don't will likely have to reduced their asking prices, and in some cases more than once.

Here are some other housing type sales averages for you;

Bungalows $1,590,867 / Split Level $1,472,333 / Linked Homes $1,166,750 / Semi-detached $1,174,375

Freehold THs $1,137,452  / Condo THs $845,321 / Stacked THs $638,875 / Condo apts $702,135

The Oakville rental market is expensive with almost 200 homes renting for above $4,000/mth and more than a hundred of those renting above $5,000/mth. 

Oakville commands more money because it is a charming and special lakeside town with lots to offer and is a safe community to live and grow a family.



Thursday, June 5, 2025

May 2025

Welcome!

President Trump is still having fun with his on again off again tariff threats.  Even so a number of families have ignored his daily antics and have continued on with their own lives and housing requirements which has resulted in a reasonably active month.  And May is historically the time of the year for action in real estate.

Here's the year over year breakdown of sales activity based on type of housing.

                                       May 2024                            May 2025                       Apprx % Change

 

Detached 2-storey          $2125653                            $2032765                                 -5

Bungalows                     $1495750                            $1376900                                 -8

Split level homes           $1561833                            $1647857                                 +5

Semi-Detached              $1145000                            $1089500                                 -5

Linked homes                no mthly sales                    $1358500

Freehold THs                $1297389                            $1169048                                  -11

Condo THs                    $877333                              $789757                                    -11

Stacked THs                  $750000                              $684889                                    -10

Condo Apts                    $835444                              $794150                                    -5

Notwithstanding the above changes we saw a number of properties come to market during the month and sell.  So that is good news!  

The ultra luxury segment (properties listed at or above $3,000,000) had 14 sales.  The highest sold above ten million.  It had been on the market for over a year and the seller had to reduced their asking price a few times.

With interest rates recently holding there will be difficult times ahead for those about to renew their existing low interest rate mortgages.  Some families will have to cut back on their spending in order to hang onto their homes. 

At the moment there are 493 properties for sale and 375 for lease.  

May saw 19 leases completed all between $1900/mth and $3000/mth, which is in the lower end of the leasing scale.   Most detached homes tend to rent well above $4000/mth.

Expect June to be fairly active given the late Spring we have had to endure.

Be well and stay safe.

                  



Thursday, May 1, 2025

April 2025

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.






Wednesday, April 2, 2025

March 2025

 Hello again.

At the moment the market has not been very active for early Spring time on the sales front with only 179 sales this March, about half the sales volume from March 2024.  The rental market was brighter with 340 lease transactions. 

With 1239 homes and condos for sale and 765 available for lease, there happens to be plenty of choice and also points to the unusual economic times we find ourselves in.   Namely in a trade tariff war with, and initiated by, the USA. 

Many buyers have been sitting on the fence waiting to see how the dust will settle from the 25% U S trade tariffs already on steel and aluminum and starting on automobiles tomorrow,  April 3, 2025.  

These tariffs will have an economic impact on millions of Canadians across the country and in so doing will also impact real estate, especially in a number of the directly affected cities like Windsor, Ontario. 

There will also be global adverse reaction to the USA on their respective country reciprocal tariffs. 

At this time, Canada has been spared reciprocal tariffs on a number of other goods.  However, President Trump has indicated that their will also be tariffs on lumber, pharmaceuticals and semi-conductors.  The details to follow.

The long term silver lining is Canada will become a stronger nation.  In the meantime, Canada will fight these tariffs and increase her global independence and cooperation with other countries.

Here are the average year over year sale prices;

                                                  March 2025                     March 2024           Approx % Change

Detached 2-storey                     $2,036,093                       $2,236,815                        -10

Det Bungalows                          $1,422,900                       $1,766,000                        -24

Det Split Level                          $1,554,800                       $1,598,125                         -3

Semi-Detached                          $1,132,666                       $1,197,714                         -6

Linked Homes                           $1,088,750                       $1,244,333                         -14

Freehold THs                            $1,203,125                        $1,161,941                         +3

Condo THs                                $893,176                           $747,429                            +20

Condo Apartments                    $680,469                            $740,528                           -9

Stacked THs                              $664,400                            $643,833                          +3

As you can see more choice translates into more bargaining and ultimately lower selling prices.  Some sellers will have to bite the bullet and lower their asking prices in order to complete their sale.

You can bet that the current Prime Minister and his Premiers as well as corporate heads will meet to come up with a response to improve and erase some of the existing tariff percentages.

Stay tuned!






Saturday, March 1, 2025

February 2025

February saw more properties come to market in advance of the normally busy Spring market. 

Both for sale and for lease properties took longer to complete.  The cold weather and significant snow fall did not help either.  Also recent immigration restrictions may further cool the market.

The rental market saw 307 leases during the month which was exceptional, ranging in price from $1500 to $12,000/mth. 

In addition, the ultra luxury segment (properties above $3,000,000) was virtually non existent compared to prior month activity.

The average price for a detached 2-storey home was $2,230,725 down almost 13% from a year ago with 53 homes changing hands.  Detached bungalows averaged $1,702,636 up about 12% with 11 sales.

Other styles of housing were as follows;

Condo apartments $713,650 Condo THs $782,462 Freehold THs $1,100,939 Semi-detached $1,056,750

Link homes not as common with just one sale at $1,250,000

Detached split level homes $1,581,714

It's great to have the Ontario election behind us sa well as the Liberal leadership race coming to a conclusion so our politicians can focus on President Trump's proposed tariffs.

Expect to see more activity as the weather improves.

Tuesday, February 4, 2025

January 2025

The market was relatively active this January with over 700 showings per week and over 500 homes and condo's to choose both for sale and for lease.  Buyers and tenants have choice. And the weather other than being cold has cooperated with not too much snow. 

Year over year the sales numbers are down 41% to 136 sales compared to 192 sales a year ago.

Here is the breakdown by housing style;

                                           2024                       2025                    % change

Detached 2-storey             $2195757              $1962472                  -12

Det bungalows                  $1359571              $1410000                   +4

Det Split Level                   $1390000              $1979259                   +42

Condo Apartments            $785400                $790560                     +1/2

Condo THs                        $856333                $1256000                   +46

Freehold THs                     $1141667              $1243906                  +9

Semi-Detached                  $1156412               $1227333                  +6

Stacked THs                      $725000                 $681600                    -6

As you can see most of the categories have seen increases.

We also saw a 25 basis point reduction in the overnight rate which will benefit lines of credits holders and variable rate mortgages.  In addition, the change in power in the United States with President Trump taking over from Joe Biden comes with his proposed tariffs implementation.  And that is partly why the Fed recently reduced interest rates to help keep future inflation in check.  It is hard to tell if President Trump will actually go ahead with these tariff plans or, is he actually bluffing?  General consensus says he will.  We shall soon see.






Tuesday, January 7, 2025

December 2024

HAPPY NEW YEAR!

And an excellent weather start to the year given our low snow volumes.

Interest rate seemed to have settled with the expectation of another quarter point cut coming soon.

Here's a closer look at how the year over year average sales numbers fared;

       Type                              December 2024                    December 2023.     % change

Det 2-storey                           $2,310,340                           $2,447,820                - 6

Bungalows                             $1,505,875                           $1,565,815                - 4

Split Level                             $1,385,750                           $1,360,750                + 2

Semi-Det                               $1,040,667                            $1,485,286               - 43

Link                                       $1,059,000                            $1,181,000               - 11 

Freehold THs                        $1,184,026                             $1,165,379               + 2

Condo THs                            $841,571                                $771,000                  + 9

Condo Apts                           $666,294                                 $711,952                  - 7

Stacked THs                          $644,000                                 $675,500                 - 5

As you can see prices are down for more property types than up, with the majority of the percentage changes falling in the single digit range.   Prices are generally holding and did indicate a relatively stable selling price over the past twelve months.

There are currently 65 homes for sale above the $3mm mark with the highest asking price not too far below 30 million dollars.  Some of these homes are up for rent as well as for sale. In December 2024 10 properties sold above  $3,000,000 compared to 9 in December 2023.

At the moment we have 231 properties for sale and 139 for lease.

With President Trump coming into power later this month and the likelihood of a new Canadian government forming by the Spring it will be interesting to see what affect that this will have on real estate.

Stay tuned!





Saturday, December 7, 2024

November 2024

Thank you for visiting my site.

This November has been very active with prices on the rise and an extraordinary number of luxury sales closing.  141 homes and condo's sold.

The average price of a detach 2-storey home has almost returned to the March 2022 peak of $2.7mm.  November 2024's average 2-storey home selling price was $2,657,043. That's more than $400,000 over this October's average selling price.

Detached bungalows came in at $1,754,300.  Semi's and Links average cost were $1,033,500 and $1,197,500, respectively.  Freehold and condo THs were $1,187,333 and $788,500.  Condo apartments and Stacked THs went for $850,542 and $626,167.

48 properties were leased. The lowest was $2100/mth for a 542SF 1 bedroom 1 bathroom 1 garage apartment at Dundas and Bronte Rd and the highest was for a detached 4BR double garage executive 2-storey home that went for $6500/mth + utilities.

At the moment there are 412 properties available for sale and 147 for lease.  34 of those for sale are asking above $4mm with 4 asking above $10,000,000. WOW!  $2,100 is the cheapest lease listing at the moment.

Looks like we will see at least a 1/4 point reduction in interest rates in a few days,  This should spur on some of the on the fence buyers to take the plunge and buy a place.

Merry Christmas!

Friday, November 1, 2024

October 2024

The market has been relatively brisk with a number of properties selling quickly and prices have been holding.

The average time to sell took 32 days. 

At the moment there are 553 homes and condos for sale.  The most we have seen in several months.  With the holiday season upon us you can expect activity to wane.  

40% of the sellers currently on the market are asking above $2,000,000.   Yes Oakville is an expensive town.  Thankfully there is some relief with the dropping interest rates.  The next drop is expected on Dec 11th.

The average sale price for a detached 2-storey home was $2,227,915, up almost 3% from a year ago.  Bungalows averaged $1,544,929.

Condo apartments avaraged $984,252 however, if you back out a $4.8mm DT condo sale sale that number drops to $746,750.

Freehold and condo THs sold for $1,198,600 and $892,857, respectively.  While stacked THs averaged $662,000.  Semi-detached and link homes did not trade during the month.

There are 148 properties available for lease.  39 leased in October ranging from $1,400 for a basement apartment and $5,500 for a stylish townhome.



Tuesday, October 1, 2024

Se[tember 2024

September had some mixed results.

A number of luxury homes sold relatively quickly with one standout which went for over $10mm in less than a week.  It was for a large home on a large property so very impressive and not on the lake!  Also many other properties moved well as well.

On the other hand some homes have been languishing and have had to resort to price reductions to ultimately get sold.  And this is not unusual.

Prices are back up to the Spring of 2022 when we the average detached 2-storey homes sold for approximately $2.7mm, in March of that year.  This September's average (including the $10.2mm sale) was $2,614,146.  Backing that sale out you still have a healthy average sale price of $2,400,000.

Other sales values were as follows:

Detached bungalows averaged $1,219,333 sidesplits $1,610,000 backsplits $1,335,000 semi-detached $1,022,500 Linked homes $1,226,000 Freehold THs $1,073,563 Condo THs $888,714 Condo apartments $695,466 Stacked THs $743,333.

46 properties were lease during the month ranging in price from $2200 to $5500/mth.  The lowest lease price was for a 1 bedroom 1 bathroom 544SF condo apartment in Westmount while the highest was for an executive 4 bedroom home in Lakeshore Woods in Bronte with just over 3,000SF of living space. 

October should be a good month and heres hoping that the Fall colours will work their magic.

Stay tuned!