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Oakville Real Estate Yearend Review – 2009

What a difference a year makes! It is interesting to compare real estate market statistics for Oakville, Ontario (W21), as they appeared on December 31, 2008, versus Dec 31, 2009. All figures provided by the Toronto Real Estate Board.

December 31, 2008:

Property Type Active Sales Avg $ Med $ Min $ Max $
Condo Apt
 
47
 
6
109
$203,417
$251,663
$209,500
$225,000
$165,000
$136,000
$232,500
$654,000
Month
Year
Link
 
3
 
1
16
$442,000
$334,488
$442,000
$321,950
$442,000
$288,000
$442,000
$442,000
Month
Year
Co-op Apt
 
0
 
0
0




Month
Year
Semi-Detached
 
13
 
3
82
$346,300
$359,282
$353,000
$357,500
$315,900
$259,000
$370,000
$733,000
Month
Year
Condo Townhouse
 
18
 
2
88
$184,000
$284,117
$184,000
$267,100
$173,000
$1,450
$195,000
$865,000
Month
Year
Det Condo
 
1
 
0
1

$282,000

$282,000

$282,000

$282,000
Month
Year
Detached
 
278
 
26
809
$644,308
$660,570
$605,500
$518,000
$272,000
$1,500
$1,650,000
$6,250,000
Month
Year
Att/Row/Twnhouse
 
37
 
8
224
$444,313
$348,825
$324,250
$321,250
$243,000
$2,200
$1,100,000
$1,600,000
Month
Year
District Total:
 
397
 
46
1,329
Month
Year
 

December 31, 2009:

Property Type Active Sales Avg $ Med $ Min $ Max $
Link
 
0
 
1
22
$395,000
$332,318
$395,000
$321,000
$395,000
$280,000
$395,000
$449,000
Month
Year
Semi-Detached
 
1
 
6
71
$427,456
$364,730
$433,675
$372,000
$359,888
$1,600
$473,500
$473,500
Month
Year
Co-op Apt
 
0
 
0
0




Month
Year
Condo Apt
 
49
 
10
132
$251,078
$302,461
$240,887
$236,500
$191,500
$1,550
$339,000
$2,180,000
Month
Year
Detached
 
161
 
60
1,076
$688,470
$664,932
$652,000
$535,000
$358,000
$285,000
$1,800,000
$9,000,000
Month
Year
Att/Row/Twnhouse
 
14
 
16
259
$391,889
$372,248
$352,000
$338,700
$258,000
$2,000
$725,000
$975,000
Month
Year
Condo Townhouse
 
7
 
13
108
$275,492
$292,822
$264,000
$269,000
$166,000
$160,000
$435,000
$690,000
Month
Year
Det Condo
 
0
 
0
2

$725,000

$725,000

$350,000

$1,100,000
Month
Year
District Total:
 
232
 
106
1,670
Month
Year

 

Here is a short summary of some of the above numbers:

  • Active homes on the market…in December of 2008, there were a total of 397 homes for sale on the MLS in all of Oakville; in December of 2009, there were 232, a decline of 42% per cent.
  • Firm sales (all types)December, 2008  – 46, versus  December, 2009 – 106
  • Firm sales for the year, all types, 2008 – 1329, 2009 – 1670
  • Median selling price for detached homes: 2008 – $518,000 2009 – $535,000, an increase of 3.28% per cent
  • Median selling price for semi-detached homes: 2008 – $357,500…2009 – $372,000, an increase of 4% per cent
  • Median selling price for condo townhouse: 2008 – $267,100…2009 – $269,000, an increase of less than 1% per cent
  • Median selling price for condo apartment: 2008 – $225,000…2009 – $236,500, an increase of 5% per cent

What is most striking is the decline in active listings. As many sellers take a wait-and-see attitude, this shortage of listing inventory, combined with large numbers of buyers fueled by the current low interest rates, points to rising prices in 2010.

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