Oakville June Market Update

OAKVILLE REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

As we move into summer, the weather is heating up and businesses are starting to reopen. The real estate market remains active. There were a few less homes sold in Oakville this June than in May but the MOI and DOM remained relatively low. June real estate sales and average prices well exceeded the previous 2 years.

Average sale prices have increased 34% over last year and Oakville house sales were 20% higher than in June 2020.

While Oakville's new listings were down 11% from May and down 16% from last year, the market is still busy! Inventory remains low due to the vast number of people looking to buy in Oakville right now! It remains a Seller's Market with homes being on the market for an average (DOM) of only 12 days in May and the Months of Inventory (MOI) being a low 0.9..

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!