Oakville’s Luxury Home Market Soaring High

February 20th, 2014 by Comment button No Comments »

Making our way into the New Year, Oakville’s luxury home market continues to make significant gains at the top of Canada’s housing market. With all signs pointing to a robust 2014, a recent report by Re/Max states that seventy-five per cent of all markets have experienced year-over-year percentage increases in sales. Furthermore, over two-thirds of markets have set new records for high-end sales in 2013.

On a high note for Oakville, our community saw a 19% increase in 2013 within the luxury residential market for homes priced $1.5 million and up. In total, 156 Oakville homes within this upper-tier market sold last year.

Our luxury housing market has undergone serious transformations in recent years, setting a new standard for lifestyles of the rich and famous,” says Gurinder Sandhu, Executive Vice President and Regional Director of Re/Max Ontario-Atlantic Canada. “High-end homes are commanding top dollar in blue chip neighbourhoods from coast to coast. Condominiums are hitting price points that rival single-detached homes. The market is maturing and the appetite is unprecedented.

Most important to the success of Oakville’s real estate market has been the lack of single-family homes available in all price ranges which has contributed to steady home buying activity. As pent-up demand and low interest rates persist, 2014 should be a banner year for sellers. In addition, purchasers remain grounded, well informed and have the resources to make purchases a reality, enabling our local market to remain healthy in the year ahead.

Oakville offers world-class real estate at affordable prices when compared to other major hubs around the world. A penthouse in New York recently sold for $90 million. By comparison, Oakville’s prestigious Edgemere Estates offers a spectacular lakefront condominium for a mere $6.3 million! An $18.6 million compound offering mountain and water views sold in Greater Vancouver last year, while Oakville’s magnificent waterfront properties sold for just under $10 million! This being said, it appears that Oakville’s high-end home prices and buying activity will be on the rise as evidenced throughout other markets.

If you would like more information about Edgemere Estates or any other listings that might be of interest to you, please don’t hesitate to be in touch!

Wishing everyone a wonderful month!

Kind Regards,
Marija Kolesar

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About the author: Marija Kolesar

Marija Kolesar is an experienced Realtor specializing in the Oakville real estate market. The recipient of numerous awards throughout her career including the designation of 'Certified Luxury Home Marketing Specialist,' Marija's expertise in the upper-tier market has helped many clients fulfill their needs and dreams. Marija has a solid reputation of integrity, energy and strong negotiation skills and has mastered the art of buying and selling in the upscale market. With over 17 years experience with The Invidiata Team (#1 RE/MAX Team in Canada and Worldwide 2012), Marija is always happy to provide exceptional service and personal attention in order to get the results you want. For more information please contact: marija@theinvteam.com / www.invidiata.com

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