Oakville August Market Update

OAKVILLE REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

The year 2020 stands out for many reasons including a busy real estate market. While the number of home sales in Oakville in August 2021 is lower than the outstanding number sold in August of 2020, you will note that the number is still higher than 2019 (representing a more historical August number.) While the number of sales are down 32% from last year this time, the average sale prices have climbed 17% higher, coming in at an average sale price of $1.5 million. The real estate market remains active with both the MOI & DOM being low

in Oakville. Average sale prices continue on an upward trend.

While Oakville's new listings were down 17% from July and down 47% from last year, this is not surprising for the summer real estate market nor being a year after the busy 2020. Inventory is very low and therefore, it remains a Seller's Market with homes being on the market for an average (DOM) of only 15 days in August and the Months of Inventory (MOI) being a low 0.7.

Homes continue to sell quickly for over list price with multiple, firm offers (no conditions). You'll note the selling price to listing price (Ave SP/LP) is 102% for August, a very slight increase from July's 101%. The highest average SP/LP was still for semi-detached homes coming in last month at 107%.

A knowledgeable and experienced REALTOR® will help you navigate this competitive market whether buying or selling. Our team is here and ready to help - we'll be with you every step of the way. We can offer you knowledge on things like the difference between a Seller's Market and Buyers Market and strategies for both buying and selling.

Call 905.220.1848 today to speak to our professional REALTORS®. We'd be happy to discuss the different local markets and types of homes, as we guide you through the selling and buying process.

Our team can help you buy or sell a home (our clients' testimonials are clear evidence of this)! We employ professional stagers and photographers in order to professionally market your home. We have a network of financial advisors who can help you determine your best mortgage options.

We would love to connect with you to discuss your real estate goals!