Oakville September Market Update

oakville REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

The average sale price for homes in Oakville this September was $1.5 million as it was in August. While the average sale price has not increased in the last month, it is 6% higher than 2020 and over 26% higher than 2019. That is a substantial increase in part due to the COVID home buying phenomenon which began in 2020. The MOI inventory is up slightly from August which was 0.7 but the Average DOM has decreased to 12

from August's average of 15. Houses are selling quickly in Oakville.

September saw the number of homes listed for sale increase 30% over August. It is a fairly normal trend for the real estate market to become more active, (ie. more homes going on the market) after the summer, we as Canadians tend to like to enjoy our warmer months holidaying.

We are continuing to see quick sales over the list price with semi-detached home showing the highest average SP/LP at 111%. The monthly average Selling Price to Listing Price (SP/LP) over all home types was 104% up 2% from August's average SP/LP.

Homes selling over list price usually means that sellers have received multiple offers and likely most offers will not contain conditions. In such a competitive
real estate market, you are wise to employ an experienced and knowledgeable REALTOR®. Whether you are buying or selling, our experienced and dynamic team of REALTORS® are ready to help you every step of the way! We have many happy clients who we have helped navigate the real estate market. You can read some of our clients' testimonials and discover why our clients recommend us to their friends and family.

We are happy to talk to you about the current real estate market, finding the right neighbourhood, finding your dream home and more! Call us today at 905.220.1848 to speak to our professional REALTORS® about planning your next real estate move!

We will help you plan the sale or purchase of your home! We offer free buyer packages, sell smarter packages, as well as employing professional stagers, photographers, have a network of established mortgage brokers and employ multiple marketing strategies - we have what it takes to help you buy or sell a home!

Contact us to get started!