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Tag: Market Update

Burlington Sales Trend Improving

November Market Highlights
  • November volume up by 51.0% versus October; first time in history that November outpaced October
  • Looming “stress test” hurdle for uninsured borrowers provided short-term sales boost prior to yearend
  • November average price of $698,826 up by 3.8% versus last year; up by 16.7% on a year-to-date basis
  • Year-to-date equity increase of $110,000 for average Burlington homeowner

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

Burlington Transactions - NOV 2017

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Aldershot South11$911,35356
Alton Central3$617,46728
Alton West3$726,00045
Brant Hills8$618,37534
Central11$843,79145
Dynes10$717,28037
Elizabeth Gardens5$829,84023
Headon Forest5$660,00019
Longmoor4$709,47545
Maple9$630,68123
Millcroft9$1,079,61126
Mountainside5$491,20014
Orchard6$836,25026
Palmer10$610,83025
Pinedale8$652,87547
Roseland6$984,83338
Shoreacres5$1,086,60038
Tansley2$659,50023

Oakville Sales Pace Showing Signs of Improvement

October Market Highlights
  • Volume down 40.9% versus last year; but up 10.5% versus September indicating that sales pace is picking up
  • Average price up by 7.6% versus last year but down marginally (1.1%) versus last month
  • Year-to-date price growth now 18.5% or $195,000 versus last year

click here Related: Monthly Neighbourhood Market Reports

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

Oakville Transactions - OCT 2017

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte Creek11$1,033,95513
Bronte22$1,111,14522
Central8$934,50014
College Park11$807,86419
Clearview6$1,073,6506
Falgarwood13$700,03113
Ford16$1,476,75610
Glen Abbey26$1,171,77410
Glenorchy7$952,1579
Joshua Creek11$1,319,5457
Morrison9$2,363,55626
Old Oakville9$2,403,94460
River Oaks27$883,24413
Southwest5$2,186,00034
Wedgewood Creek7$1,104,37113
Westmount18$908,16611
West26$1,120,95414
West Oak Trails16$763,42510

Burlington Volume Continues Steep Slide, While Prices Strengthen

October Market Highlights
  • Volume down by 28.4% for the month; now down by 9.4% on a year-to-date basis
  • Average price up by 9.0% versus last year and up by 11.0% versus last month; but down from the high-water mark of $837,719 established in May
  • Year-to-date price growth now up by 17.8% or $116,000 versus last year

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

Burlington Transactions - OCT 2017

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Aldershot South10$836,75037
Alton Central4$832,50022
Alton West6$884,65027
Brant Hills11$631,26439
Central9$769,66737
Dynes9$572,47826
Elizabeth Gardens10$819,08031
Headon Forest18$651,62529
Longmoor9$685,22229
Maple7$694,21431
Millcroft15$792,13324
Mountainside10$548,08025
Orchard4$904,97515
Palmer12$600,16339
Pinedale6$622,50023
Roseland2$2,152,50014
Shoreacres11$1,093,72726
Tansley4$556,13417

Oakville Market Moderation Continues

September Market Highlights
  • Volume down by 43.1% for the month; now down by 25.8% on a year-to-date basis
  • Average price up by 9.1% versus last year and up by 5.9% versus last month; but down from the high-water mark of $1,428,664 established in February
  • Year-to-date price growth now 20.5% or $214,000 versus last year

Related: Monthly Neighbourhood Market Reports

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

Oakville Transactions - SEPT 2017

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte Creek6$1,300,00043
Bronte15$1,214,86016
Central2$1,537,50053
College Park7$722,78618
Clearview4$1,154,78844
Falgarwood9$953,38916
Ford7$1,880,92931
Glen Abbey16$1,065,71930
Glenorchy6$1,072,06719
Joshua Creek6$1,582,98137
Morrison10$2,119,97531
Old Oakville4$2,256,25060
River Oaks14$1,005,25031
Southwest4$2,083,75034
Wedgewood Creek1$770,00013
Westmount5$954,80025
West10$1,333,79033
West Oak Trails14$865,77720

2015 Banner Year for Oakville Market

The Oakville resale market recorded 118 sales through the Oakville-Milton MLS® system in December, up by 10.3% versus the 107 units sold in December 2014. The strong December performance propelled total 2015 sales to 3,095 – up by a very respectable 7.8% versus the 2,870 homes sold in 2014. A relatively strong local economy coupled with ultra-low borrowing costs were the major factors behind the robust volume performance.

If the market had benefited from more listings, the 2015 sales total would have been even greater. That said, it is likely that there is still a substantial amount of pent-up demand in the market as we enter 2016, a fact which obviously augurs well for volume in the months ahead. Of the 118 homes sold in December, 67 (56.8%) were fully detached homes; 18 (15.2%) were semi-detached/link/freehold townhomes; and 33 (28.0%) were either condo apartments or condo townhomes.

The average price of an Oakville resale home sold through the Oakville-Milton MLS® system in December was $843,901 – down marginally by 0.9% versus the $851,814 average price posted in December 2014. However, this brought the average selling price for 2015 as a whole to $856,149 (up by 6.0% versus the 2014 average selling price of $807,934).

This level of price appreciation was about three times greater than the rate of inflation in 2015, pointing to the value of home ownership as a long-term investment. In pure dollar terms, the average Oakville homeowner experienced a gain in home equity of over $48,000 over the past 12 months. Added to this excellent return is the fact that primary residences are capital gains tax exempt, unlike other forms of investment. Given pent-up demand and the prospect of only slightly higher borrowing costs, 2016 should be another good year on the price front.

Related: Monthly Neighbourhood Market Reports

Oakville Transactions - DEC 2015

NeighbourhoodTotal TransactionsAvg Sales Price ($)Avg Days on Market
Bronte Creek6$992,98342
Bronte10$834,20046
Central3$1,055,500140
College Park6$600,68313
Clearview4$702,22512
Falgarwood4$631,12562
Ford1$2,738,80017
Glen Abbey6$841,10721
Glenorchy2$676,90018
Joshua Creek4$1,005,75041
Morrison5$1,925,00080
Old Oakville1$1,900,000113
River Oaks12$649,15840
Southwest3$1,918,333131
Westmount8$625,50033
West8$876,12546
West Oak Trails11$654,10933