Home > Oakville, Ontario, Real Estate > OAKVILLE REAL ESTATE THEN AND NOW

OAKVILLE REAL ESTATE THEN AND NOW

We often hear in the newspaper these days how the real estate market in Canada has recovered. But there is no better evidence than the actual MLS sales figures, as reported by the Toronto Real Estate Board. Here is a chart of November 2008 sales in the Town of Oakville (W21), which we will compare with the November 2009 sales – Oakville Real Estate Then and Now. 

Data is broken down into property types…today we will look at 2 – the Attached Freehold Townhouse (Att/Row/Twnhouse on the chart), and Detached Homes.

In November of 2008, you can see that there were 57 Attached Freehold Townhouses on the market in all of Oakville, and that 11 had sold that month. The median price for these sales was $332,500. (I use Median price rather than Average price as a unit of measure, as the Average price can be swayed by any large, expensive sales, whereas the Median is a better gauge of accuracy). During the entire year, 217 Attached Freehold townhouses had sold, at a median price of $321,000.

 With Detached Homes, there were 346 Active (for sale), and 47 had sold that month. Median price was $496,500 for the month of November 2008. During the year, 783 Detached homes had sold in all of Oakville, at a median price of $516,000.

NOVEMBER 2008 STATISTICS

Property Type Active Sales Avg $ Med $ Min $ Max $
Att/Row/Twnhouse
 
57
 
11
217
$413,355
$344,817
$332,500
$321,000
$293,500
$2,200
$999,900
$1,600,000
Month
Year
Co-op Apt
 
0
 
0
0




Month
Year
Condo Apt
 
47
 
5
103
$327,600
$254,473
$330,000
$225,000
$215,000
$136,000
$435,000
$654,000
Month
Year
Condo Townhouse
 
28
 
8
86
$283,163
$286,446
$266,250
$268,100
$161,000
$1,450
$445,000
$865,000
Month
Year
Det Condo
 
1
 
0
1

$282,000

$282,000

$282,000

$282,000
Month
Year
Detached
 
346
 
47
783
$739,755
$661,110
$496,500
$516,000
$289,000
$1,500
$6,250,000
$6,250,000
Month
Year
Link
 
6
 
0
15

$327,320

$319,900

$288,000

$389,900
Month
Year
Semi-Detached
 
17
 
7
79
$370,490
$359,775
$374,000
$358,000
$335,130
$259,000
$410,500
$733,000
Month
Year
District Total:
 
502
 
78
1,284
Month
Year

Now we will compare the November 2008 numbers with the most recent November 2009 numbers….

At the current time (end of November 2009), there are only 20 Attached Freehold townhouses for sale on the MLS market..there were also 20 sales during the month (Nov 2009), and the median price was $336,750. During the year, there were 243 Attached Freehold Townhouses which sold in all of Oakville, at a median price of $337,000.

As for Detached homes, in the month of November 2009 there were 206 actively for sale on the market, and 89 sold at a median price of $555,000. For the entire year, 1,017 Detached homes sold in all of Oakville, at a median price of $532,000.

NOVEMBER 2009 STATISTICS

Property Type Active Sales Avg $ Med $ Min $ Max $
Att/Row/Twnhouse
 
20
 
20
243
$355,820
$370,954
$336,750
$337,000
$295,000
$2,000
$635,000
$975,000
Month
Year
Co-op Apt
 
0
 
0
0




Month
Year
Condo Apt
 
57
 
16
123
$470,218
$305,741
$250,000
$232,500
$186,000
$1,550
$2,180,000
$2,180,000
Month
Year
Condo Townhouse
 
21
 
12
95
$280,300
$295,193
$268,500
$269,000
$220,000
$160,000
$420,000
$690,000
Month
Year
Det Condo
 
1
 
0
2

$725,000

$725,000

$350,000

$1,100,000
Month
Year
Detached
 
206
 
89
1,017
$814,125
$663,328
$555,000
$532,000
$339,000
$285,000
$9,000,000
$9,000,000
Month
Year
Link
 
0
 
2
21
$322,500
$329,333
$322,500
$320,000
$312,000
$280,000
$333,000
$449,000
Month
Year
Semi-Detached
 
3
 
5
65
$400,200
$358,940
$415,000
$360,000
$360,000
$1,600
$424,500
$469,000
Month
Year
District Total:
 
308
 
144
1,566
Month
Year

 

The changes in the market can thus be seen….active listings are way down…for the Attached Freehold Townhouses, only 20 versus 57 a year ago. For detached, 206 versus 346 a year ago. If we look at year-to-date sales, for the Attached Freehold Townhouses, 2008 showed 217 versus 243 this year. Median price has moved from $321,000 to $337,000 – an increase of 4.9%.

Detached homes show a similar trend. There were 346 available for sale in November of 2008, versus only 206 today. During 2008, there were 783 sales at a median price of $516,000. In 2009 there have been 1,017 sales at a median price of $532,000 – an increase of 3.1%.

What is most striking is the lack of listings today…whatever the reason, this tight supply of listings indicates rising prices now and into the new year (2010). If you are thinking of selling, the news is all good. If you are planning on buying, it’s probably better to act now rather than wait.

I hope you have found Oakville Real Estate Then and Now interesting..If you would like a similar analysis for your area (GTA), just email me at rselzer@sutton.com

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Categories: Oakville, Ontario, Real Estate
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