Summer is coming to an end! As we enjoy this change of pace and season, we take a moment to look back on the performance of the Oakville local property market and consider what this means for future trends.
The year to date statistics (January-July 2021) indicate an upward trend, with the average price of all home types in Oakville now $1,461,166 - up 24.68% from January-July 2020. The detached market segment was the fastest-growing segment in terms of price increase, driven by suburban sales surrounding Toronto.
The demand for ownership housing has remained strong despite a slowdown in population growth related to the pandemic. Particularly notable is the condominium apartment market, which has seen significant growth this year compared to last year. First-time buyers, many of whom were slower to benefit from the initial recovery phase, remain very active in the marketplace.
We live, work and play in Oakville, and it is our goal to inform and share with you what's happening and why our communities are so special to us. Below you will find the July 2021 Market Snapshot for Oakville!
Across all styles of homes in Oakville, the Average Sales Price increased! Average Sales Price increased 27.02 percent to $1,920,531 for Detached homes, increased 32.11 percent to $1,165,182 for Semi-Detached homes, increased 14.93 percent to $1,063,980 for Att/Row/Townhouse, and increased 2.23 percent to $654,711 for Condo Apartments. All styles of homes are selling in record time too! Average Days on Market decreased 48.15 percent to 14 for Detached homes, decreased 36.36 percent to 7 for Semi-Detached Homes, decreased 20.0 percent to 12 for Att/Row/Townhouse, decreased 30.43 percent to 16 for Condo Apartments. It’s a great time to sell in Oakville!
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