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Oakville Real Estate Market: What’s behind the Numbers so far in June?

June 18, 2009

The market is up, it’s hot, it’s jumping!

While the home sales numbers certainly show this is true to a point, part of this increase is the market playing catch-up from all the uncertainty and instability the Oakville and Mississauga Real Estate market experienced from last November to this past February.

Will the numbers continue? If inventory numbers don’t align with the sales, further price increases will be inevitable. That being said, home buyers aren’t blindly throwing money at sellers. They are more cautious and patient right now and have been walking away from unreasonable sellers.

Let’s take a quick look at some Real Estate numbers for Oakville so far in June 2009:

Detached homes under $400,00:

42 sales reported

Detached homes $400,000 – $650,000:

83 sales reported

Detached homes $650,000 – $750,000:

18 sales reported

Detached homes $750,000 – $1,000,000:

19 sales reported

Detached homes $1,000,000 +:

13 sales reported

I think from these numbers it’s clear which segment of the market is driving Oakville’s Real Estate market – $400k – $650k. Unfortunately it also has the smallest relative percentage of available listings.

Now let’s take a quick look at the condo market in Oakville so far in June ’09:

Condos under $400,00:

16 sales reported

Condos $400,000 – $650,000:

2 sales reported

Condos $650,000 – $1,000,000:

0 sales reported

Condos $1,000,000 +:

0 sales reported

Want to know how this affects your home’s value? Thinking of Selling? Contact me for a private, no-obligation market evaluation.

Ryan Chelak is a licensed Real Estate Broker with Town-City Realty Limited. Serving the Burlington, Oakville, Mississauga and Greater Toronto Area for 12 years.

One Comment leave one →
  1. May 17, 2010 4:04 am

    Great Post! I find your blog very helpful for real estate and I am sure others do as well. Keep up the good work!

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