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Oakville Resale Prices Strengthen in Spring Market

March Market Highlights
  • March average price of $1,155,338 is up by a solid 4.6% versus last year, and by 10.2% versus February
  • Q1 average price is up by 1.6% versus last year, indicating that the market has bounced o‑ the lows experienced in 2018
  • That said, March volume remained in sluggish territory (183 units, down by 17.2% versus last year)
  • OSFI stress test continues to negatively impact mortgage qualification numbers and is therefore hampering sales volume

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What’s Your Oakville Home Worth? Get a Free market evaluation of your home.

Oakville Transactions - MAR 2019

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte16$1,100,01032
Bronte Creek13$1,123,03833
Central7$1,035,97130
Clearview5$1,101,60014
College Park5$1,086,10024
Falgarwood9$836,76726
Ford13$1,531,38518
Glen Abbey25$1,141,98014
Glenorchy6$934,75052
Joshua Creek3$1,085,00031
Morrison13$2,509,92375
Old Oakville7$2,744,28625
River Oaks18$887,47217
Southwest5$1,486,60020
Wedgewood Creek6$926,16713
West14$1,000,23648
West Oak Trails3$731,00012
Westmount23$881,52223

Burlington Market Recovery Remains on Track

March Market Highlights
  • March sales volume (+7.7%) showed significant year-over-year growth; Q1 year-over-year volume growth is 9.7%
  • Tepid new listings growth (-11.4% in March) remains a key issue for the Burlington market
  • Price growth has been disappointing especially in view of poor new listings performance
  • That said, prices have held firm (positive territory) for 8 out of the past 9 months now

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WHAT’S YOUR BUrlington HOME WORTH? GET A FREE MARKET EVALUATION OF YOUR HOME.

Burlington Transactions - MAR 2019

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Aldershot South17$858,97728
Alton Central4$814,25030
Alton West4$973,75036
Brant Hills16$654,22827
Central17$894,96537
Dynes9$678,65616
Elizabeth Gardens5$1,177,63039
Headon Forest12$759,03319
Longmoor10$739,75030
Maple8$688,66236
Millcroft10$876,30018
Mountainside11$601,12713
Orchard14$812,71518
Palmer7$690,85721
Pinedale13$677,58522
Roseland4$1,785,50030
Shoreacres7$1,010,85740
Tansley5$844,15012

Goodbye Oakville. Goodbye Burlington. Hello City of Halton? Say NO to Amalgamation.

In January the province announced they will be reviewing the governance, decision-making and service delivery functions of 8 regional municipalities (including Halton Region). A probable outcome is that here Oakville, Burlington, Milton and Halton Hills will be merged to form the City of Halton. BUT, Halton and its municipalities are already models of efficiency and amongst the best places to live in Canada.

Forced amalgamation is trying to fix a system that is not broken. Our two-tier (local and regional) government in Halton effectively and efficiently serves the residents of Oakville and its other municipalities at the local level, while providing coordinated planning and shared services across the region as evidenced by these indicators:

  • Oakville and Regional property tax increases have been kept at or below the rate of inflation
  • Halton has an AAA credit rating and consistent job growth
  • All four municipalities in Halton Region are ranked amongst the best places to live in Canada according to MoneySense 2018
  • Halton is considered to be one of the safest regions in Canada
  • Throughout Halton, 98% of residents rated the quality of life very high and 97% are satisfied with the quality of all services

Each of our municipalities has developed and evolved differently based on its own needs, vision, character, culture, and priorities. Forced amalgamation will be extremely costly in financial, social and human terms and will mean a loss of our voice. A 2015 study on amalgamation in Ontario by the Fraser Institute, Municipal Amalgamation in Ontario, May 2015 found that “the promised benefits of amalgamation – namely cost savings and a reduction in the size of government – never materialized.”

Oakville Mayor Rob Burton and Council are committed to initiatives that maintain and protect our community’s sustainability:

  • Controlling growth to only what fits our environment and our economics;
  • Protecting our cultural and natural heritage resources and greenspaces;
  • Providing high-quality facilities and services our residents need and want;
  • Keeping our finances strong and healthy; and
  • Merging the Town of Oakville with any municipality will significantly impact Oakville’s sustainability.

Oakville can only lose by amalgamation. Oakville would lose its local identity, local decision-making power and would no longer be in charge of its future. Oakville’s 200,000 people would be outweighed by the 400,000 people in the rest of Halton.

Stephen Crawford, MPP for Oakville, has prepared a petition to the Ontario Legislative Assembly requesting that the Town of Oakville remain a distinct municipality within a two-tier Region of Halton municipal governance structure. Oakville residents are encouraged to consider signing this petition which is available in Mr. Crawford’s constituency office located at 74 Rebecca Street, Unit A, Oakville until Easter. Mr. Crawford will present the petition directly to the legislature thereafter.

Taxpayers must have the ability to accept or reject any proposed structural changes to municipal councils or amalgamation proposed by the Province. Voice your opinion by the April 23rd, 2019 deadline the extended deadline of May 21st, 2019 at www.ontario.ca/form/survey-regional-government-review. Additional information can be found at www.weloveoakville.org.

UPDATE: HALTON TO PROVINCE: “LEAVE US ALONE”

Extreme Weather Hampers Oakville Early Spring Market

February Market Highlights
  • Unseasonably cold weather in February had a dramatic effect in the number of new listings coming to market
  • As a result, February sales volume (-37.9%) slumped severely as would-be sellers delayed their listing plans temporarily
  • Volume is expected to recover in the months ahead, as weather improves and more new listings come to market
  • Weather also kept buyers away resulting in less demand and sluggish price performance (-6.7% decline in average price versus last year)

Related: Monthly Neighbourhood Market Reports

What’s Your Oakville Home Worth? Get a Free market evaluation of your home.

Oakville Transactions - FEB 2019

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte6$1,295,83344
Bronte Creek2$744,05010
Central1$995,00026
Clearview2$742,00028
College Park7$726,08727
Falgarwood4$614,12522
Ford3$1,312,66746
Glen Abbey14$1,079,53632
Glenorchy15$861,20047
Joshua Creek6$1,096,96725
Morrison6$2,679,83364
Old Oakville2$1,385,00023
River Oaks13$848,23119
Southwest2$1,440,00021
Wedgewood Creek3$911,63332
West11$1,214,27343
West Oak Trails10$938,78022
Westmount12$915,33334

Burlington Market Continues to Bounce Back

February Market Highlights
  • Both February sales volume (+7.6%) and average price (+1.3%) registered year-over-year gains
  • Sharp new listings growth in January (+27.3%) did not replicate in February (-0.9%), likely due to the extreme February weather
  • Tepid new listings growth likely curtailed volume substantially in February, as would be sellers delayed their listing plans temporarily
  • More aggressive volume growth is expected in the months ahead, as weather improves and more new listings come to market

Related: Monthly Neighbourhood Market Reports

WHAT’S YOUR BUrlington HOME WORTH? GET A FREE MARKET EVALUATION OF YOUR HOME.

Burlington Transactions - FEB 2019

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Aldershot South5$672,70013
Alton Central2$1,031,50079
Alton West1$1,096,50011
Brant Hills8$648,11216
Central9$991,11143
Dynes8$728,48811
Elizabeth Gardens4$633,25012
Headon Forest7$774,64312
Longmoor2$665,25033
Maple2$692,50054
Millcroft7$820,78654
Mountainside5$625,60023
Orchard6$821,33338
Palmer8$687,6629
Pinedale2$632,50018
Roseland3$1,360,00057
Shoreacres---
Tansley3$634,66717