Oakville May Market Update

OAKVILLE REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

May's weather may have been up and down, however, real estate trends continued to be fairly consistent. The Oakville real estate market was a little slower in May than April but it was still busier than the 2 previous years. The high number of home sales in May 2021 well exceeded those of May 2020 and were somewhat higher than 2019 as well. Average sale
prices have increased 34% over last

year and Oakville house sales were 175% higher than in May 2020.

While Oakville's new listings were down 20% from April, they were up 90% from last year! 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 11 days in May and the Months of Inventory (MOI) being a low 1.0..

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 May, down 1% from April. 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 you achieve your real estate dreams. We can offer you knowledge on things like the difference between a Seller's Market and Buyer 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! Our clients' testimonials
speak for themselves!