River Oaks Real Estate Update Jan 1, 2011 to Jan 1, 2012

River Oaks continues to be a highly desireable Oakville neighborhood and this past year was no exception. The greatest number of Oakville properties sold was in River Oaks with 348 properties for $166.8 million, comprised of townhomes, detached homes, and apartments.

The average detached home in River Oaks sold for $634,000 and took an average of 25 days. The most expensive home was $1,500,000 and the least was $430,000 and took from 1 to 170 days to sell. Detached homes comprised 176 of the properties sold for $113,255,000.

The average price for a townhome was $351,000 and sold in 19 days. The most expensive was $592,000 and the least was $270,000 and took as long as 91 days and as little as 1 day. River Oaks townhomes comprised 96 properties sold for a total of $33,744,000.

River Oaks average price for an apartment was $260,000 and sold in 42 days. The most expensive apartment sold for $640,000 and the least was $199,000 and took as long as 185 days and as little as 2 days. Apartments comprised a total of 76 properties sold for a total value of $19,810,000.

Detached homes will always make up the majority of properties sold in River Oaks, for no other reason than they are more detached homes in comparison to townhomes or apartments. River Oaks north east community of Oak Park's retail section is filling in nicely. Several new restaurants and the new home to CIBC's business branches are now located there. As more and more businesses make this area home, it will continue to support strong prices for all of River Oaks.