The Town of Oakville is a beautiful lakeside town with a strong heritage, preserved and celebrated by residents and visitors alike. Founded in 1857, this thriving municipality of about 201,200 residents has become one of the most coveted residential centres in Ontario, and for good reason: quality schools, proximity to Lake Ontario and recreational areas, easy access via QEW, 403, 407 and GO Transit, and charming shopping districts in the downtown core.
Oakville was ranked number one on MoneySense.ca’s Canada’s Best Places to Live 2018.
May 2020 Summary
The Toronto Regional Real Estate Board reported the following for the GTA for the month of May 2020:
- The AVERAGE SALE PRICE in May 2020 was up by 3% year over year
- The NUMBER of SALES was down by 53.7% compared to May 2019
- The NUMBER of NEW LISTINGS was also down 53.1%
These numbers include ALL of the GTA and ALL housing types (detached, semi, town, condo apt, condo town). As expected, the number of sales AND the number of new listings were down across the Greater Toronto Area (GTA). All things being equal, the inventory of homes for sale is very low, so demand still far exceeds supply in most markets. This means that home prices will continue to trend upwards so long as conditions remain the same.
To help decipher the data in the adjacent table, when the Sales to New Listings Ratio (SNLR) is:
- 55% or more = SELLER’S MARKET = more buyers than properties for sale
- Between 36% and 54% = BALANCED MARKET = about the same number of properties for sale as there are buyers
- 35% or less = BUYER’S MARKET = more properties for sale than there are buyers
|Average Sale Price||$1,393,799||$1,310,234||6.4%|
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