Sales volumes were off almost 30% with 157 sales of homes and condo's during the month. Last November there were 203 sales.
Prices remain strong, and the average price for a detached 2 storey home in Oakville has finally edge above the million dollar mark with an average sale price of $1,044,000. A record high!
There were more high end sales with 23 sales above one million dollars compared to 18 in November 2012. That's quite something considering the lower number of sales.
The time to sell took a relatively quick 36 days and the rental market remained active with 54 sales during the month. 10 of those were for condo apartments.
Financing remains very attractive with 5 year fixed loans available at 3.49% & 5 year variable at 2.55%.
Sunday, December 1, 2013
Friday, November 1, 2013
October 2013 sales activity
211 apartments & homes traded hands during the month off about 13% from a year ago. Prices remain high with the average price for a 2-storey home selling for $945,000 about the same as last October's $948,000 number (off a 1/4 point). The time to sell was also virtually the same with 34 days this year compared to 35 days in Oct' 2012. And the same number of homes sold above a million dollars with 33 sales during the month.
Interestingly, the ultra high end market has not fared as well as last year, although you could argue that 2012 was an exception. The following are the number of sales for the first 10 months for each of the last 3 years.
Sale Price > $1,500,000 > $2,000,000 > $3,000,000 Total
2011 38 43 9 90
2012 255 65 16 336
2013 61 65 14 140
The rental market was reasonably active with 50 leases. 17 were for condo apartments. The cheapest of those was a $1,000/mth for a 1BR 1 bath apartment in Bronte. The most expensive was for a fully furnished apartment in downtown Oakville which was leased for $4,200/mth.
Interestingly, the ultra high end market has not fared as well as last year, although you could argue that 2012 was an exception. The following are the number of sales for the first 10 months for each of the last 3 years.
Sale Price > $1,500,000 > $2,000,000 > $3,000,000 Total
2011 38 43 9 90
2012 255 65 16 336
2013 61 65 14 140
The rental market was reasonably active with 50 leases. 17 were for condo apartments. The cheapest of those was a $1,000/mth for a 1BR 1 bath apartment in Bronte. The most expensive was for a fully furnished apartment in downtown Oakville which was leased for $4,200/mth.
Thursday, October 10, 2013
September 2013
Hello. September has been an active month w/many homes selling quickly. The average days on market was 29. The average price for a detached 2-storey home was $909,000 which is up 4% from September 2012.
We had 58 rental properties change hands ranging in price from $1325 to $8500/mth. The cheapest one was for a newer modest sized condo apartment while the highest rental sale went for a delightful lakefront home.
Financing rates are still very attractive w/no immediate signs of rate increases on the horizon. Variable rates are still the same as a year ago at 2.60% for 5 years. Fixed 5 year has gone up from 3.09% to 3.69%, yet still very attractive.
We had 58 rental properties change hands ranging in price from $1325 to $8500/mth. The cheapest one was for a newer modest sized condo apartment while the highest rental sale went for a delightful lakefront home.
Financing rates are still very attractive w/no immediate signs of rate increases on the horizon. Variable rates are still the same as a year ago at 2.60% for 5 years. Fixed 5 year has gone up from 3.09% to 3.69%, yet still very attractive.
Monday, September 2, 2013
August 2013
A fairly active month with 205 properties changing hands. 30 of those sold above $1,000,000.
The time to sell took 34 days which is up slightly from last years 29 days & this July's 28 days.
The average price for a detached 2-storey home sale was $904,000. Still very good/expensive but down slightly from this July's $915,000 average.
There were 34 rental property sales and 11 of those were for condo apartments.
Financing is still very attractive, although 5 year mortgage loans are up about 30 basis points to 3.29%.
We expect the fall market to continue to be strong.
The time to sell took 34 days which is up slightly from last years 29 days & this July's 28 days.
The average price for a detached 2-storey home sale was $904,000. Still very good/expensive but down slightly from this July's $915,000 average.
There were 34 rental property sales and 11 of those were for condo apartments.
Financing is still very attractive, although 5 year mortgage loans are up about 30 basis points to 3.29%.
We expect the fall market to continue to be strong.
Saturday, August 3, 2013
July 2013
Sales volumes were 25% below July 2012 levels while prices were up approximately 15% year over year. This July the average sale price for a detached 2-storey home was $925,000 and there were 76 sales. The sales volume for all types of housing for the month was 186. That is considerably lower than this June 2013 302 sales. That's over a 60% sales volume drop.
The time to sell took just over a month with 32 days as the average time to sell. In July 2012 it took almost 2 months to sell properties.
28 of the 186 property sales were for high end properties which went for $1,000,000 or more.
The rental market was active with 87 properties rented.
The time to sell took just over a month with 32 days as the average time to sell. In July 2012 it took almost 2 months to sell properties.
28 of the 186 property sales were for high end properties which went for $1,000,000 or more.
The rental market was active with 87 properties rented.
Thursday, July 4, 2013
June 2013
The market seems quieter than it is with a 10% drop in sales volumes year over year along with a 3% price increase. The average detached 2-storey home sold for $934,000 in June, down from this May's $974,000 average price but up from June 2012's $910,000. Also it is taking longer to sell homes with 36 days being the average for a detached 2-storey home.
The rental market is about the same with 81 sales during the month. Million dollar home sales is also about the same with 38 sales versus 37 in June 2012.
Financing remains low with 5 year variable at 2.60% & closed at 3.39%. The closed rate is edging up from the recent below 3% range.
The rental market is about the same with 81 sales during the month. Million dollar home sales is also about the same with 38 sales versus 37 in June 2012.
Financing remains low with 5 year variable at 2.60% & closed at 3.39%. The closed rate is edging up from the recent below 3% range.
Friday, June 7, 2013
May 2013
Although sales volumes were off 7% from this time last year the average price of a 2 storey home was $974,000. Up 8.5%. The Oakville sales volumes are not as bad as many other pockets of metropolitan Toronto as reported by the media.
Fifty homes sold above $1,000,000 with 11 above $2MM, which included 2 above $4MM & 1 above $5MM. Whose on first?:)
As you can see the luxury market is very active. Many of the buyer's are coming from China as the Chinese have obviously given Oakville a stamp of approval for being a safe and pleasant community to live in and raise a family. Oakville is also a short/easy commute to Toronto.
There were also 90 rental transactions & 24 of those involved condo apartments. Similar volumes to last year.
Financing remains very attractive with 5 year mortgage available as low as 2.79% & variable money at 2.60%. Last year at this time those rates were 3.19% & 2.90%, respectively. Hard to beat!
Fifty homes sold above $1,000,000 with 11 above $2MM, which included 2 above $4MM & 1 above $5MM. Whose on first?:)
As you can see the luxury market is very active. Many of the buyer's are coming from China as the Chinese have obviously given Oakville a stamp of approval for being a safe and pleasant community to live in and raise a family. Oakville is also a short/easy commute to Toronto.
There were also 90 rental transactions & 24 of those involved condo apartments. Similar volumes to last year.
Financing remains very attractive with 5 year mortgage available as low as 2.79% & variable money at 2.60%. Last year at this time those rates were 3.19% & 2.90%, respectively. Hard to beat!
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