Oakville July Market Update

OAKVILLE REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

Traditionally, the summer real estate market is a little slower than other times of the year as people are out enjoying the much awaited warmer weather and school holidays. The number of homes sold in Oakville during the summer of 2020 were somewhat higher than this year, likely due to people moving out of larger cities due to Covid last year. While the number of sales are down 17% from last year this time, the average sale prices remained on par with June 2021's average sale price of $1.4 million. .The real estate market

remains active with both the MOI
and DOM being low in  Oakville.
Average sale prices have increased   16% over last year and the upward trend of Average Sale Prices continues.

While Oakville's new listings were down 28% from June and down 38% from last year, again, this is not surprising for the summer real estate market.Inventory remains low and therefore, it remains a
Seller's Market with homes being on the market for an average (DOM) of only 14 days in July and the Months of Inventory (MOI) being a low 0.8..

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 103% for June, remaining the same as May. The highest average SP/LP was still for semi-detached homes coming in last month at 110%.

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 (check out our clients' testimonials). 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! 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!