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What Is Average in Oakville Condos?

August 4, 2008

With July already behind us and the summer Real Estate market chugging along, I thought that I would examine what a condo buyer in Oakville can purchase for the industry average.

I have separated condominium apartments and condo townhouses in order to get a more accurate picture of the market. After all it’s better to compare apples to apples.

First, let’s take a look at condo apartments. In July, 28 condo units changed hands with an average selling price of $266,054. What can you buy for this? Let’s see… As of today, you would have four options between $264,900 and $269,900. This is the closest range to our average for July, 2008.

First on the list is a One bedroom plus den in Trubute’s new condo in Oak Park (located near Trafalgar Rd and Dundas). For an asking price of $264,900 you get an open concept suite with 9′ ceilings, engineered hardwood floors, granite countertops and stainless steel appliances in the kitchen, en suite laundry with appliances, a balcony and 2 parking spaces. All this with less than 700 sq.ft.

Next is a a 2 bedroom unit in the neighbouring building, also a new Tribute building. It is also listed at $264,900. This third floor unit offers 850 sq.ft of space, but lacks the hardwood floors. It makes up for this with larger bedrooms and two three-piece baths. This unit also has en suite laundry, a balcony and stainless steel appliances, but only one parking space.

For something a little different, there’s a more centrally located condo overlooking the 16 mile creek (near Trafalgar and Speers). This 2-storey condo has 2 bedrooms and 2 baths. It has been extensively renovated and has hardwood floors, 9′ ceilings, a private patio and plantation shutters. All this for an asking price of $269,900.

Also at $269,900 is a condo for someone wanting to be located in Downtown Oakville. This one bedroom unit on Robinson Street has a good sized Master Bedroom and a great terrace for entertaining.
Now let’s do the same for condo townhouses that sold in July ’08. With 14 town houses selling in July at an average selling price of $383,064. Given the lack of current inventory at this price point, I have widened the range somewhat. For the purpose of this exercise I have included two listings.

First is a newer townhouse built by Legend Creek in between Trafalgar Road and Eighth Line, south of Dundas. This 3 bedroom townhouse overlooks a pond and has hardwood floors on the main floor, 3 1/2 baths and a finished basement. This home is listed at $379,900 with monthly maintenance fees of $235.
Next is a centrally located end-unit townhouse on Dorval drive, just north of the QEW. Perfect for commuters this open concept townhouse has 3 bedrooms, 2 1/2 baths and is upgraded with granite counters in the gourmet kitchen, extensive hardwood floors, 9′ ceilings, a finished walk-out basement at grade and backs onto a ravine. With monthly maintenance fees of $216 and an asking price of $399,900 it raises the question is this average? Under Oakville’s current Real Estate market it is…

If you’re in the market for a condominium property in Oakville, or just interested in more information on Real Estate in Oakville. Drop me a line or visit my website. Ryan Chelak is a Real Estate Broker serving Oakville and Mississauga and specializes in condo properties.

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