Sales volumes were 238 down from 281 in 2010 but way up from this January's 175 sales. The average sales price of a detached 2-story home was $800,000, a healthy number and up from the $757,000 a year ago. That's almost a 6% sales price increase which unfortunately makes it difficult for those families trying to get into a detached home. January '2011 sales average was slightly higher at $807,000. But you can safely say that prices are holding.
The average days on market was 31 up from 21 last February. But a month is still very quick.
25 homes sold above the million dollar mark in February with 4 above $2,000,000. Among those upper end sales the highest was $8,000,000* for a Southwest Oakville lakefront estate. This of course continues to support the incredible attraction that Oakville offers.
Rental properties kept in line year over year with 62 rentals sales versus 61 last year. Sales went from $1,175 to $5,800.
The good news is there is a very positive energy in the market place and we are seeing a few multiple bid situations as a result. At the same time we are also seeing alot of new properties coming to market and the existing balanced market may soon turn into a buyer's market.
*I backed out the $8,000,000 sale to make more sense of the numbers. Had I not, the average sale price for a detached 2 storey in February would have been $929,000.
Wednesday, March 2, 2011
Saturday, January 1, 2011
December 2010
Prices are holding with the average 2-storey home in Oakville selling for $786,500. Sales volumes were down 30% with 124 sales this month compared to 162 last year. But not bad when compared to Dec 08 & 07 when we had 79 & 137 sales respectively.
11 homes sold above 0ne million with the most expensive, a beautiful lakefront mansion in Southwest Oakville going for just under $4.2 million.
In addition, to the 124 sales there were 42 homes & condo's rented. Ten of which were condo apartments.
Average days on market did increased to 50 from this November's 40. Still not too bad.
Financing is still very attractive with 5 year mortgage money available at 3.74% and variable rates at 2.30%.
It should be interesting to see how the market fares over this next quarter.
11 homes sold above 0ne million with the most expensive, a beautiful lakefront mansion in Southwest Oakville going for just under $4.2 million.
In addition, to the 124 sales there were 42 homes & condo's rented. Ten of which were condo apartments.
Average days on market did increased to 50 from this November's 40. Still not too bad.
Financing is still very attractive with 5 year mortgage money available at 3.74% and variable rates at 2.30%.
It should be interesting to see how the market fares over this next quarter.
Wednesday, December 1, 2010
There were 201 sales in November the same number as October. Down from Nov '2009's 254 sales but way above Nov '2008's 122 sales.
The average 2-storey home sold for $817,000, up from this October's low seven's & Nov '2009's $791,000. This is the first time we have cracked the $800,000 threshold.
The average for all types of housing including apartments was $579,000. That is considerably higher than a year ago when the average was $503,000.
The average days on market was 40.
There were 47 rental transactions. 13 were for condo apts that rented between $1,000 & $1,700. Ten of the 16 detached home rentals went between $2,000 & $4,000 with the lowest going for $1,600 & the highest going for $4,850.
Mortgages rates still remain very attractive and it looks like prices will hold going forward with some modest price fluctuation and overall growth.
The average 2-storey home sold for $817,000, up from this October's low seven's & Nov '2009's $791,000. This is the first time we have cracked the $800,000 threshold.
The average for all types of housing including apartments was $579,000. That is considerably higher than a year ago when the average was $503,000.
The average days on market was 40.
There were 47 rental transactions. 13 were for condo apts that rented between $1,000 & $1,700. Ten of the 16 detached home rentals went between $2,000 & $4,000 with the lowest going for $1,600 & the highest going for $4,850.
Mortgages rates still remain very attractive and it looks like prices will hold going forward with some modest price fluctuation and overall growth.
Tuesday, November 2, 2010
October 2010 Sales Activity
Sales volumes for the month were 201, down almost 50% from a year ago but keeping pace with this September's 206 sales. Prices are still holding for the most part with the average sale price for a detached 2-storey home coming in just over $700,000. Oakville is still one of the most expensive places to live in the GTA.
There were 17 homes sales above $1,000,000. The average time to sell took a respectable 35 days.
There were 14 rental sales 3 of which were condo apts. September '10 had 71 rental sales.
Now that the power plant is no longer a threat to our community we and interest rate hikes are holding we will experience a renewed sense of activity in the market going forward.
There were 17 homes sales above $1,000,000. The average time to sell took a respectable 35 days.
There were 14 rental sales 3 of which were condo apts. September '10 had 71 rental sales.
Now that the power plant is no longer a threat to our community we and interest rate hikes are holding we will experience a renewed sense of activity in the market going forward.
Friday, October 1, 2010
September 2010
There were 206 sales this month down slightly over last month (214) and down dramatically from a year ago when there were 304 sales. However, the average price of a detached 2-storey home was $749,000. Up over last month's $703,000 and September 2009's $736,000. There were 92 2-storey sales and 24 bungalow sales.
The average days on market improved slightly at 37.
19 homes sold above the one million dollar mark.
There were 62 rental sales. 11 were for condo apartments. The average time on the market was 25 days.
Borrowing costs remain attractive and it looks like the Bank of Canada will refrain from further rate hikes to help out with the increased amount of consumer debt on the books.
The average days on market improved slightly at 37.
19 homes sold above the one million dollar mark.
There were 62 rental sales. 11 were for condo apartments. The average time on the market was 25 days.
Borrowing costs remain attractive and it looks like the Bank of Canada will refrain from further rate hikes to help out with the increased amount of consumer debt on the books.
Friday, September 3, 2010
August 2010 Sales Volumes
We saw a slight improvement over last month with 214 sales. Almost up 11%. This pales in comparison to a year ago when we transacted 300 sales.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
Monday, August 2, 2010
Oakville Sales Activity July 2010
The market continues to be very slow and showing activity is soft. Much more so than we normally see.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
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