From January 1, 2011 to January 1, 2012 there were 310 properties sold in Glenn Abbey for a gross price of $160,000,000. This feels like a large number, but the number of properties sold actually dropped last year, and the forecast for 2012 is for a repeat of 2011.
Detached homes accounted for 69% of the dollar sales and 50% of properties sold. The average detached home in Glenn Abbey sold for $724,000 and was on the market for 23 days. The lowest price paid for a detached was $360,000 and the highest was $1,340,000.
Townhomes accounted for just over 18% of the dollar sales and 25% of the properties sold. The average townhome in Glenn Abbey sold for $379,000 in 27 days. The highest price paid for a townhome was $770,000 and the least was $252,0000.
Apartments in Glenn Abbey accounted for just under 13% in dollars sold and 25% of the total number of sales. The average apartment in Glenn Abbey sold for $239,0000 in 38 days. The lowest price paid for an apartment was $181,000 and the highest paid was $415,000.
Glenn Abbey continues to be a great family neighborhood with excellent schools, great parks and strong recreation centre. As the number Glenn Abbey homes for sale remain light - prices will continue to rise. The greatest demand for properties in the neighborhood are still those that have been fully renovated. Looking at history is helpful to understand what is likely going to happen in the future, but residential real estate prices can be effected strongly by economic and environmental conditions. So always consult a realtor before making a decision about selling, purchasing or renovating.
Oakville Real Estate Update
River Oaks 2011
River Oaks has always been a highly desired location in Oakville. It sits centrally at the north edge of the town, and has good access to QEW, 407 and 403 highways. Public schools are almost all with in walking range from any location, and it is also home to Rotherglen (a private school - JK to Grade 8). Home to an excellent Community Centre and strong shopping areas, it is a great family friendly neighborhood.
River Oaks is primarily made of single detached homes, with a healthy number of town homes and apartments. The only Oakville community which has carriage houses (garages in the back), as well as the planned community of Oak Park - a mixed development of apartments, detached, semi's and townhomes all on small lots with garages off a back laneway.
The average cost of a detached home is $638K and sold in 24 days. Properties ranged in price from $430K for a 2 storey 3 bedroom with 1 full bath and 2 half baths, to $1,535K for a 2 storey 4 bedroom with 4 full baths and 1 half bath. River Oak's townhomes average sold price was $349K and was on the market for18 days. The least expensive townhome was a condo, 2 storey, 3 bedroom with 1 full bathroom and a half bath, selling for $270K. The most expensive townhome was a freehold, 2 storey, 3 bedroom with 3 full baths and a half bath, selling for $592K. Apartments in River Oaks average selling price was $255K and was on the market for 43 days. The least expensive apartment sold for $199K, and featured one bedroom and a full bath. The most expensive apartment sold for $640K and featured 2 bedrooms and 2 full bathrooms.
This broad range of homes both in price and style combined with strong amenities makes River Oaks a highly desired neighborhood.
So you're thinking of moving in or relocating to Oakville, Ontario, one of Canada's most prestigious communities. Oakville is definitively worth considering if you're moving into or around the Greater Toronto Area, most often referred to as the GTA. I've lived in Oakville for over 25 years, and have been involved in the community since 1972. I know my way around the town, its various neighborhoods, and communities. I'm passionate about Oakville.
Oakville was founded in the 1800s, around what is now considered Old Oakville. This neighborhood has a historic shopping district, which is filled with excellent boutiques, restaurants and cafes. The second major community, which was also founded in the 1800s, was Bronte. The area around Kerr Village was the last to be developed in the 1850s.
Transportation in Oakville
Oakville has easy access to public transit (Oakville Transit) whether you are needing to catch a bus, or catch commuter train (GO Transit) into Toronto. By car the town has excellent road systems and quick access to three major highways: QEW, 403 & 407. It is about a 30-minute car ride to Toronto Internation Airport (Pearson). VIA Rail, the nation's rail service, has a stop in Oakville. The vast majority of Oakville residents own a car.
Types of Oakville Homes
The majority of homes in Oakville are single detached dwellings. There are also condominiums, and townhomes as well. Homes range in style from the historic 1800s to ultra modern. Currently prices range from $175,000 for a one-bedroom apartment to $45 million for an estate on the shores of Lake Ontario. There is something for everyone in town.
Education in Oakville
Oakville residents are well educated with a significant number of people holding university degrees, college certificates, and post-graduate degrees. The neighborhood schools are considered the best in Ontario, whether you are seeking public, catholic, or private. The public system is rated as the highest in Ontario. Most people who live in Oakville use the public system to educate their children. Oakville is also home to Sheridan College, with its world renowned animation program.
For the youngest Oakville residents there are a large number of excellent daycares.
Recreation in Oakville
Oakville has a wide variety of recreational opportunities, both in sport and the arts. There is basically nothing you cannot find happening in Oakville from running clubs and competitive canoeing, to the symphony or theatre. You'll be able to find a group, organization, or facility to meet your needs.
Parks in Oakville
There are a wide range of parks, from the formal Garilock Gardens to the vast trails of Glen Abbey. You can sit on a beach in the summer, and cross-country ski in the winter.
Weather in Oakville
For a northern climate, Oakville weather is moderate. The winters are cold with snow, and summers are usually warm and humid, and. However, you can always cool off by the lake. The lake also provides Oakville with very moderate winters (though you'll have the occassional fridged day). The most pleasant time of the year - at least for me - is Fall, when it is usually warm but not humid, and the trees change color to vivid oranges, reds and yellows.
During this past summer I needed to sell a family property. The home had been in the family for over 40 years. It had very few upgrades, but had been well maintained. The neighbourhood is in transition, from small post war homes to large $1,000,000 plus homes.
Here are the steps I took when deciding on what to do with our property:
1. I brought on another realtor to work with me. Like all home owners, I wanted to make sure I wasn't making emotional decisions. The other reason for bringing in another realtor is for personal protection. If a realtor sells there own home, then the realtor's errors and omission insurance is voided.
2. Working with the other realtor we analyzed the market and found that the property as it sat, would only appeal to a builder as a tear down. That the neighbourhood real estate did support the sale of small homes that had been fully renovated. As land value the property would sell for $550,000. Renovated homes of similar size had sold recently from $610,000 to $675,000.
3. I hired an experienced local stager, who understood what the neighbourhood buyer's expectations. It was a fairly inexpensive to determine what might need to be done from design, demolition, renovation, and finally staging. She provided me with a report for $200.00. I took this to my realtor, to determine if she felt the recommendations were valid. Almost all the recommendations were thought to be necessary.
Recommendations:
Interior
Gut and renovate main 4 pc bathroom
Gut and renovate 2 pc bathroom
Gut and renovate kitchen
Paint interior
Replace all pulls for built-in closets
Replace all light fixtures
Strip all ceiling of popcorn stucco
Refinish hardwood floors
Stage living/dining room, master bedroom, bathrooms and kitchen
Exterior
Paint exterior
Repair garage door and paint garage
Replace tiles on front porch with brick and create white picket railing
Remove all over grown shrubs and replace with new flowers
Build a small picket fence at front yard to define property
Replace all light fixtures
4. A well recommended builder quoted the demolition and renovations, and the stager provided a quote for design and staging. The quote came in at $45,000, with completion in 2 months.
5. Went back to the realtor to discuss quote, and likely return. I decided that the return on the investment which I budgeted at $55,000 and 3 months was worth the potential return. I hired both the stager and builder, who had to work together.
6. During the process, I was constantly needing to keep track of expenditures. Did we go with marble floors, or straight forward tiles, solid surface counter tops or laminate. With each of these decisions, I worked with the realtor, stager, and builder.
The Result
The home was finished in 2.5 months at a cost of $50,000. It was staged in 1 day, the property was photographed and then listed on MLS for $639,000. A public open house was held on the next day, which was Sunday. An agents open house was held on Tuesday, and another public open house was held on the following Sunday. A total of 200 people went through the house, along with 50 realtors. Offers were held until the Monday following the second open house. I received 4 offers: one below list, one at list and two above list. The house sold at $656,000 and closed in three weeks. This positive result speaks for itself, which is why I always recommend taking these steps prior to listing any property.
River Oaks has always been a highly desired location in Oakville. It sits centrally at the north edge of the town, and has good access to QEW, 407 and 403 highways. Public schools are almost all with in walking range from any location, and it is also home to Rotherglen (a private school - JK to Grade 8). Home to an excellent Community Centre and strong shopping areas, it is a great family friendly neighborhood.
The average cost of a detached home is $638K and sold in 24 days. Properties ranged in price from $430K for a 2 storey 3 bedroom with 1 full bath and 2 half baths, to $1,535K for a 2 storey 4 bedroom with 4 full baths and 1 half bath. River Oak's townhomes average sold price was $349K and was on the market for18 days. The least expensive townhome was a condo, 2 storey, 3 bedroom with 1 full bathroom and a half bath, selling for $270K. The most expensive townhome was a freehold, 2 storey, 3 bedroom with 3 full baths and a half bath, selling for $592K. Apartments in River Oaks average selling price was $255K and was on the market for 43 days. The least expensive apartment sold for $199K, and featured one bedroom and a full bath. The most expensive apartment sold for $640K and featured 2 bedrooms and 2 full bathrooms.
A Brief Overview of Oakville
Types of Oakville Homes
Parks in Oakville
