We hope you had a great Victoria Day weekend and were able to enjoy some of the good weather! It was great to see people enjoying the outdoors in Oakville while respecting social distancing guidelines as we start to see restrictions lift and businesses opening their doors.
While there's still a lot of uncertainty out in the world, we have seen closeness and creativity from many who are also practicing social distancing. We are here to not only answer your real estate & market questions, but also to provide inspiration for your own creative activities and ideas for fostering closeness with others. We're going to get through this together, and come out on the other side a closer community.
Below you will find the April 2020 market statistics for Oakville. We are dedicated to providing you with the most up to date information on the market, especially with sales information through the COVID-19 crisis.
New Listings decreased 73.9 percent for Single Family homes and 76.0 percent for Townhouse/Condo homes. Sales decreased 68.9 percent for Single Family homes and 73.8 percent for Townhouse/Condo homes. Inventory decreased 42.2 percent for Single Family homes and 60.0 percent for Townhouse/Condo homes.
Median Sales Price increased 7.0 percent to $1,375,000 for Single Family homes and 4.7 percent to $710,000 for Townhouse/Condo homes. Days on Market increased 10.0 percent for Single Family homes but decreased 11.1 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 43.8 percent for Single Family homes and 57.7 percent for Townhouse/Condo homes.
At this time, the real estate industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges.
We would love to provide you with a neighbourhood market update for your area!
Contact us today for your neighbourhood report.