West Harbour continues redefine itself as one of Oakville’s toniest communities, with prices to match. Older homes are being torn down to make way for state of the art construction.
This past year West Harbour has seen the final sales of 111 Forsythe (Daniel’s ubber luxurious condo) and the addition of several excellent restaurants.
Soon the community will see it’s first Starbucks (the first west of the 16 Mile Creek and south of the QEW).
Several new properties are being built on its fringes, so it is hard to determine if the boundaries will change again to include those between Brock and Dorval.
The average price for a detached home in West Harbour is $1,150,000 and took about 103 days to sell. However, with several of the older properties being purchased for land value this average will likely grow significantly over the next few years. The highest price paid for a detached home was $1,800,000 and the lowest was $600,000. It took as long as 318 days and as little as 3 days to sell.
For a West Harbour townhouse the average price was $858,000 and was on the market for 71 days. The highest price paid for a townhouse was $1,790,000 and the least was $375,000 and took anywhere from 12 to 144 days to sell.
Finally, the only apartments for sale in West Harbour are located at 111 Forsythe. Since there are only 3 properties that sold last year – it would be inappropriate to report the sales, since it would be too easy to determine which units sold for what prices. Reporting these sales is against the Real Estate Council of Ontario’s code of ethics. The price per square foot depends on the location and view from the unit, but on average it is $700 per square foot.
West Harbour real estate was under a cloud for a period of time due to the proposal of a mixed use 16 story complex to be built on the south side of Lakeshore, between Brant & Brock. This development was not approved by the OMB, and now is renovated as is (single story retail). With that issue resolved, the days on market has really reduced and will be a contributing factor to an increase in property values.