Oakville has been described as an Ontario treasure, with a small town feel just a stone's throw away from the hustle and bustle of Toronto's big city vibe, the popularity of our small suburban town remains constant.
Those of us that are lucky enough to call Oakville home, are aware of the increasing interest to join our community, which is located in the most desirable suburb in Southern Ontario. Here the median household income is over $100,000.00. With Oakville’s ever increasing popularity, home owners here rejoice, as housing prices are steadily on the incline.
On January 15, 2015 The Canadian Real Estate Association (CREA), announced that the number of home sales processed through MLS dropped 5.8%. This means national home sales activity was down when compared to previous months. Although sales weakened, the number of homes listed for sale rose over 1%, as the national average sale price rose 3.8% in comparison to last year’s activity. All in all - the real estate market remains balanced. The decrease in home sale transactions over the month of December can safely be accredited to the traditionally slow real estate market during the holiday season. "Home sales activity remained above year-ago levels in most local housing markets," said CREA President Beth Crosbie. Although sales were down nationally, one third of all Canadian real estate markets had stronger sales during December than the previous month. This is a healthy reminder that when investing in real estate, it is important to consult your local Realtor to better understand your market. National numbers are broad and Oakville is one of the strongest housing markets in the country. Oakville's average house is still selling above $800,000, up nearly 20% from last year. The GTA is still one of the leading housing markets Nationally, along with Montreal, Greater Vancouver and the Fraser Valley.
Source - Brandon Jones Weekly Real Estate Report, Oakville News