According to figures released by The Oakville, Milton and District Real Estate Board the average selling price for a resale property in Oakville in October was $1,246,118 compared to $1,216,799 in October 2017. The number of residential sales for the month was 163 compared to 180 last year. The average sale price year to date in 2018 is $1,123,125 which is down 10.10% from 2017. The average days on market year to date is 36.
“Dangerously overheated regions have cooled considerably this year.” said Phil Soper, president and CEO, Royal LePage. “The GTA is emerging from a housing correction that was triggered by a combination of eroding affordability and government intervention,” continued Soper. “The introduction of the mortgage stress test in particular slowed activity in Toronto’s ‘905’, bringing lower prices to the over-heated suburban region. Quarter-over-quarter trends are pointing to the end of this correctional cycle and the beginning of a modest recovery in the region.”
Contact me anytime if you have any questions or would like information. If you are thinking of selling we would be pleased to offer you a complimentary market evaluation. We have many years of experience helping owners sell their condos in Ennisclare on the Lake and know the buildings very well. Always putting the needs of our clients first, our goal is to keep you informed of the real estate market and to help you achieve the greatest return on your real estate investment. As always, I look forward to hearing from you.
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