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Category: Statistics

order metronidazole The average price of an Oakville resale home sold through the Oakville-Milton MLS® system in March was $823,064 – down by a slight 1.6% versus the $836,612 average price posted in March 2014. Despite this minor downtick, the average price for the three months ending in March came in at $839,094 which was up by a solid 6.3% versus the average price for the first three months of 2014. To put this level of price growth in some additional perspective, the most recent inflation growth figure from Stats Canada (February 2015) stands at just 1.0%. Accordingly, home ownership in the Oakville market has provided significant real returns from an investment perspective. Days on market remained at a brisk 22 days in March, down by 3 days versus the 25 days posted in March 2014.

The Oakville resale home market recorded 247 sales in March – down by a sizeable 7.8% versus the 268 homes sold in March 2014. Volume continues to be constrained by supply shortages which are severely limiting options for would-be purchasers and resulting in many of them to remain on the sidelines. With the first quarter now completed, volume is so far lagging last year by a significant 6.2%. Supply shortages have been an ongoing issue for the past several months and, while helping to push prices generally higher, they are causing problems from a volume point of view. In order for volumes to show a clear recovery trend, the number of active listings in the marketplace needs to improve substantially during the months ahead.

* Figures based on the last 6 months and reflect all MLS® sales as reported by the Oakville Milton and District Real Estate Board. Article and chart courtesy of © Mission Response Inc.

* Figures based on the last 6 months and reflect all MLS® sales as reported by the Oakville Milton and District Real Estate Board. Article and chart courtesy of © Mission Response Inc.

The average price of an Oakville resale home sold through the Oakville-Milton MLS® system in February was $863,748 – up by a whopping 13.9% versus the $758,435 average price posted in February 2014. In fact, the February average price established a brand new all-time high price for Oakville, marginally eclipsing the previous record high of $860,813 which was set last October. Prices continue to be supported by a weak supply and by historically low interest rates, with the result that if buyers are able to find a home that meets their requirements, they are better than ever able to afford it. Days on market, which also provides an indication of the relationship of supply versus demand, declined to just 22 days from the 25 days of last February.

The Oakville resale home market recorded 178 sales in January – down markedly by 20.9% versus the 225 homes sold in February 2014. Volume continues to be constrained by supply shortages which are severely limiting options for would-be purchasers and resulting in many of them to remain on the sidelines. Just two months into the new year, volume is so far lagging last year by a substantial 9.2%. Supply shortages have been a persistent issue for the past several months and, while helping to push prices higher, they are wreaking havoc from a volume perspective. In order for volumes to show a definite recovery trend, the number of active listings in the marketplace needs to improve substantially.

* Figures based on the last 6 months and reflect all MLS® sales as reported by the Oakville Milton and District Real Estate Board. Article and chart courtesy of © Mission Response Inc.

* Figures based on the last 6 months and reflect all MLS® sales as reported by the Oakville Milton and District Real Estate Board. Article and chart courtesy of © Mission Response Inc.

The average price of an Oakville resale home sold through the Oakville-Milton MLS® system in November was $805,452 – an eye-catching 15% increase versus the November 2013 average price of $701,409. On a year-to date basis (January thru November), the average resale price in Oakville is $807,878 – up by a full 10% versus last year’s average of $735,536 for the same time period. This increase represents an increase in equity of over $72,000 for the average Oakville homeowner. The robust price growth experienced throughout 2014 is expected to continue through 2015 given a continuation of high demand versus limited supply in the marketplace. Higher mortgage rates are expected in 2015 which could have a moderate impact on demand.

Sales volume for the month of November was 149 units, down by 13% versus the 171 units sold in November 2013. Despite this sizeable decline, year-to-date volume (January thru November) is still showing a respectable 5% increase versus last year (2,747 units sold in 2014 versus 2,608 units sold in 2013). So overall volume remains on track to be a very solid year despite the sluggish, weather-related start to the year and despite weak inventory levels which were prevalent throughout all of 2014. Households clearly remain upbeat about home ownership because monthly mortgage payments remain affordable relative to accepted lending standards. In addition, housing has consistently proven itself to be a quality long-term investment.