The average sale price of a home in Oakville rose in January 2016 to $965,165, an increase of 15.65% versus January 2015.
The number of new listings decreased by 32.4% compared to January 2015. The overall local market is exemplified by a very tight supply of properties offered for sale with the number of buyers in the market place being typical for the time of year. Low mortgage rates and mild winter conditions have contributed favourably to the overall health of the market. Competing bid scenarios are becoming commonplace for well-priced, market-ready properties under $600,000. We are seeing relocation to the area from Alberta, reversing the trend of outflow to the West which occurred over the last several years.