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The slump and rebound: How Oakville home prices did over last 2 years

January 27, 2010

Source: Toronto Star

The above picture is courtesy of the TheStar.com and shows the median prices in November and percentange change over the last two years for each real estate district in the Greater Toronto Area.  For my Oakville readers, the above picture shows the stats for Oakville home prices.

The map shows the November median real estate prices for 2007, 2008 and 2009 and coding them by colour depending on the percentage of change.  Just to be clear, this is not showing the average or mean prices of real estate, but median or middle values.  Many statisticians believe that the median value is better suited and less biased or influenced by ‘radical values’.

As you can see, Oakville, Milton and some areas of Mississauga had particularly have experienced above average gains in median pricesNow, keep in mind that this covers all types of real estate properties; detached homes, townhouses, condos – the works.

I thought I would show some further detail from the November 2009 stats for Oakville, for clarity:

November: 2009

Sales         Avg. Price        Median Price      Avg. Days on Market      Avg. % of List Price

144                   $646,574                   $449,000                               31 days                                             98%

Now we’ll look just at the detached homes in Oakville that were sold in November 2009:

Sales         Avg. Price        Median Price      Avg. % of List Price

89                    $814,125                  $555,000                                    98%

Now the same for the condo apartments in Oakville :

Sales         Avg. Price        Median Price      Avg. % of List Price

16                   $470,218                  $250,000                                   98%

Now the condo townhouses in Oakville:

Sales         Avg. Price        Median Price      Avg. % of List Price

12                    $280,300                $268,500                                    98%

And finally freehold townhouses in Oakville:

Sales         Avg. Price        Median Price      Avg. % of List Price

20                   $355,820                  $336,750                                  99%

Wondering how the current real estate market conditions have affected your home’s value?

Thinking of buying or selling a home, townhouse or condo in Oakville or Mississauga?  Give me a shout, I’d be happy to sit down with you to discuss your personal situation.

Ryan Chelak is a real estate agent in Oakville and longtime Oakville resident. Subscribe to my blog to keep up to date on local news, information, events and of course everything you want to know about Oakville real estate.

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