“Snowmagaddon” is a good comparison for the sensational articles written about Canada’s imminent decline of real estate values by economists and media outlets. In order to sell more papers or increase ratings, the media understands that dramatic headlines sell. Don’t be taken in by the hype. Full-time realtors, who are dedicated to an area, are far better barometers.
Here are the Oakville Real Estate statistics for the week of January 28 to February 4:
|Price Range||Listed||Sold||At/Above List||Conditional||DeListed||Total Inventory|
|$100K – $500K||45||31||4||15||12||151|
|$500K – $1M||60||18||3||8||13||213|
|$1M – $2M||16||4||0||6||1||90|
The Oakville real estate market continues to be very warm for the right homes this week. Over 14 homes sold at list price or above, which is in-excess of 20%. Inventory of homes jumped a little, but it was mainly in the one to two million category. The market in some parts of Oakville such as West Kerr and West River is particularly tight, with almost no inventory. The properties on Old Mill (the three condominums by the Oakville GO Station) have about 1% inventory. With such tight inventory, prices will climb steadily as buyers are forced to purchase homes at certain price points.