What do Oakville's December 2021 real estate statistics tell us?
December has generally been a slower month in the real estate market. This is due in part to the different cultural celebrations at this time of year and partially due to the colder weather. December 2021 was no different as the house market trends will demonstrate.
Overall sales numbers are significantly lower than both last month (-46%) and this time last year (-25%). Number of new listings coming to market continue to be down (52% from last month & 11% from last year), so Inventory remains low with active listings being 67% lower than last year and 47% lower than last month. The number of sales, new listings and active listings all show an overall trend of decreasing over the last few months. One wonders if the real estate market is starting to settle or is it simply the usual seasonal slowdown. Time will tell.
Low inventory and number of buyers continue to influence average sale prices which are up 19% from this time last year. However, it is interesting to note the -3% drop of the average sale price from last month and it can be attributed to a lower average sale price on Detached homes, bringing the average in Oakville for December is $1,546,037. Oakville has many different types of homes and a variety of neighbourhoods, all varying in their trends of average prices and activities, which is why it is very important to talk to us now if you are planning a move, to get the specifics on the areas that you are thinking of.
Months of inventory (MOI) remained the same at 0.5 which is the lowest, certainly for the past 5 years. Average days on market (DOM) slightly increased to 13, again likely due to the traditional seasonal slowdown.Average sale price to listing price increases slightly to 108%.
With averages ranging from 102.5% to 117% above asking price dependent on housing type. Condo Apartments continue to sell for closest to the asking price and Semi-Detached homes are still selling for the most over list price. Understanding all of these factors will play a role in making your real estate buying and selling plans Talk to us now at 905.220.1848 and let us get all the data for the area and type of home you are looking to sell or buy, or email [email protected]! We love to talk Real Estate!ROSS BRIDGES REAL ESTATE TEAM - HELPING YOU FIND YOUR WAY HOME!
Burlington and Oakville are right next door to each other, but how do they compare? Read the Burlington December Market Update.
See the numbers for Oakville November 2021 here.
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