It is time to get a local oakville realtor if you want to get the Oakville house you want. As you'll see many of the most sought after Oakville properties are selling in hours. Your local Oakville realtor is the person committed to finding that property the minute it is listed. Just the other week my clients were in to see a property within 3 hours of it being listed on the Oakville Milton Real Estate Board; they put together an offer on the spot and the purchase was done by 8:00 PM. This all happened before the property even made it to MLS.
Inventory is still extremely tight. We are currently below 1% of available inventory, with only 579 properties available for sale or lease. The neighborhood with the least inventory is West Oakville with just under 2.5 weeks available, followed by Joshua Creek with slightly over 3 weeks of inventory. The average inventory is 12 weeks or 3 months.
During the week 75 Oakville homes were sold, of those 24 properties sold for asking or above (roughly 30%). These competitive prices are happening on all ranges of properties from leases to multi million dollar properties. Only 65 Oakville properties were listed for sale, and the reason this is smaller then the listed is due to the fact that so many properties are selling in a day or less.
Range of prices for types of Oakville properties are:
Detached Oakville homes range in price
lease from $1500 to $12,000
for sale $339,000 to $9,985,000
Semi-detached Oakville homes range in price:
lease from $1,480 to $,1695
for sale from $296,000 to $489,900
Oakville Townhomes range in price:
lease from $1,400 to $2,950
sale from $179,900 to $1,779,000
Oakville apartments range in price:
lease from $849 to $10,500
for sale from $159,900 to $3,395,000
If you are looking to sell your Oakville home, the market as you can see is great. However, with inventory being so low, you want to ensure your Oakville property gets a great deal of exposure, to ensure you're going to get the best price.
If you are looking to purchase an Oakville home, working with a local knowledgeable realtor is key to getting into Oakville homes before they reach MLS, which can take as long as 24 to 48 hours. Time is particularly crucial especially on well priced Oakville properties.
