WOW who would have predicted such a sizzling start to the year. It's a Seller's paradise with homes selling in 23 days on average. The average cost of a 2-storey home is now slightly above $1,250,000! And that's all 2-storey's from small single garage 3 BRs to lakefront estates. Buyer's on the other hand are dreading the thought of facing continuing multiple Offer situations when trying to purchase a home, and it wears on you.
Low interest rates are helping with the current demand as well as foreign interest, in particular many Chinese people are buying up a good half of the Oakville properties offered for sale.
Employment remains low and interest rates are expected to remain low for some time to come. As a result, prices should continue to rise.
Wednesday, April 27, 2016
Saturday, February 6, 2016
January 2016
Sales volumes were down 21% from a year ago with just 1245 sales in January and if you look at the 10 year average the volumes were down 30%, The average sale price on a brighter note, was up 13% to $941,000 for all types of housing, including condominiums,
2015 had 8% more sales than 2014 with 3092 sales compared to 2866 sales. And 2007 had the most annual sales with 3613 properties sold. However, were you to consider the expansion in the Oakville market over the period and factor in all the new construction unit sales have certainly declined.
This is very good for seller's and of course difficult for buyer's, especially first timers!
Anyone planning to sell this year should fare pretty well while buyer's can take advantage of the extremely low financing rates.
2015 had 8% more sales than 2014 with 3092 sales compared to 2866 sales. And 2007 had the most annual sales with 3613 properties sold. However, were you to consider the expansion in the Oakville market over the period and factor in all the new construction unit sales have certainly declined.
This is very good for seller's and of course difficult for buyer's, especially first timers!
Anyone planning to sell this year should fare pretty well while buyer's can take advantage of the extremely low financing rates.
Monday, January 4, 2016
4th Quarter 2015
HAPPY NEW YEAR!
There were 284 sales during the period. 57 of those sold above a million dollars. 114 two-storey homes changed hands with an average sale price of $1,091,500 and, in a relatively quick 27 days. The rental market saw 79 transactions and 12 of those were for condo apartment leases.
Financing remains very attractive with 5 year mortgage money as low as 2.59% and variable at 2.20%.
Listings are still scarce so we start the new year with a seller's market. It looks like prices will remain stable with some growth given the buyer/seller landscape.
There were 284 sales during the period. 57 of those sold above a million dollars. 114 two-storey homes changed hands with an average sale price of $1,091,500 and, in a relatively quick 27 days. The rental market saw 79 transactions and 12 of those were for condo apartment leases.
Financing remains very attractive with 5 year mortgage money as low as 2.59% and variable at 2.20%.
Listings are still scarce so we start the new year with a seller's market. It looks like prices will remain stable with some growth given the buyer/seller landscape.
Tuesday, December 1, 2015
Winter Newsletter Coming Soon!
Bart and I (also assisted by Canada Post) will be delivering your newsletters soon! If you'd like to be added to my mailing list, please email me at kevinconroy@cogeco.ca.
Friday, November 6, 2015
October 2015
October had 241 sales with an average time on the market of 25 days. 61 of those sold above $1,000,000. In October 2014 there were 236 sales.
The average price for a detached 2-storey home sale was $1,093,000 about 5% lower than September's average sale price $856,000 while the mean was $750,000. A year ago those numbers were $843,000 and $705,000, respectively.
Financing remains very attractive and inventory is light. And the bidding wars continue!
The average price for a detached 2-storey home sale was $1,093,000 about 5% lower than September's average sale price $856,000 while the mean was $750,000. A year ago those numbers were $843,000 and $705,000, respectively.
Financing remains very attractive and inventory is light. And the bidding wars continue!
September 2015
The average sale price for a detached 2-storey home was $1,148,000 this September. In June that average was $1,144,000. Many sales had multiple Offers and 265 properties changed sold. The majority of properties sold in less than a month.
62 properties, which included 7 condo apartments and 20 bungalows & lofts, sold above $1,000,000.
The September rental market was active with 242 properties renting ranging in price from $1050/mth for a 1BR apt on Kerr street to $8500/mth for a detached home in Southeast Oakville.
Financing remains very attractive with 5 year mortgage money bing offered as low as 2.44% & variable at 2.05%.
62 properties, which included 7 condo apartments and 20 bungalows & lofts, sold above $1,000,000.
The September rental market was active with 242 properties renting ranging in price from $1050/mth for a 1BR apt on Kerr street to $8500/mth for a detached home in Southeast Oakville.
Financing remains very attractive with 5 year mortgage money bing offered as low as 2.44% & variable at 2.05%.
Wednesday, July 1, 2015
June 2015
June's sales volumes was slightly stronger than a year ago. This June we saw 338 sales compared to 317 in 2014 so pretty much the same however there were 40% more homes/condo's that sold at or above $1,000,000. So that's significant! 83 versus 59.
That also helped the detached 2-storey sales market to have an average sale price of $1,144,000. A year ago it was $1,032,000.
When you compare sales volumes for the first 6 months the trend is still almost the same. In 2015 there were 1685 sales and in 2014 1666 sales. And home sales volumes for homes & condo's selling at or above a million dollars rose 25% for the first half of the year. 390 versus 313.
The rental market is a little bit lower with 76 sales this June compared to 87 a year ago.
Financing remains very attractive with 5 year mortgage money offered as low as 2.54% and 3 & 5 year variable mortgage money offered at 2.20% & 2.15%, respectively. Hard to beat!
That also helped the detached 2-storey sales market to have an average sale price of $1,144,000. A year ago it was $1,032,000.
When you compare sales volumes for the first 6 months the trend is still almost the same. In 2015 there were 1685 sales and in 2014 1666 sales. And home sales volumes for homes & condo's selling at or above a million dollars rose 25% for the first half of the year. 390 versus 313.
The rental market is a little bit lower with 76 sales this June compared to 87 a year ago.
Financing remains very attractive with 5 year mortgage money offered as low as 2.54% and 3 & 5 year variable mortgage money offered at 2.20% & 2.15%, respectively. Hard to beat!
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