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Tag: Market Update

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

click here Related: Monthly Neighbourhood Market Reports

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

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)

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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

Oakville Market Resale Prices Continue to Recover in New Year

January Market Highlights
  • January average price of $1,115,569 is up by a solid 4.7% versus last year
  • Market now appears to have fully digested the impact of the government-mandated stress test and higher interest rates from a pricing perspective
  • That said, January volume continued its recent sluggish pattern (-9.2% versus last year)
  • Volume is expected to strengthen in the coming months with a growing restoration of consumer confidence in the market

Related: Monthly Neighbourhood Market Reports

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

Oakville Transactions - JAN 2019

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte7$1,765,35740
Bronte Creek7$976,85725
Central3$1,039,84372
Clearview3$986,33339
College Park2$1,017,50014
Falgarwood8$936,25243
Ford2$2,702,50026
Glen Abbey9$812,77836
Glenorchy6$979,33350
Joshua Creek4$1,097,50026
Morrison2$2,571,00034
Old Oakville6$1,908,33359
River Oaks9$1,072,38933
Southwest1$2,003,800170
Wedgewood Creek1$950,00022
West9$1,285,16755
West Oak Trails10$896,88047
Westmount9$1,101,44439