Transitions-Oakville, Burlington and Mississauga Real Estate Blog

Oakville Real Estate Market Report for 2009 Compared to 2008.

Real estate sales in Oakville, Ontario have steadily increased in 2009 when compared to the same months in 2008.

Oakville property sales started very low with 71% fewer sales in January 2009 than in January 2008.
The market picked up a bit as spring approached, however still showed a negative percentage difference from 2008 sales until May of 2009 when the number of sales reached 7.9 % higher than in 2008.
This was a reflection of growing consumer confidence coupled with low interest rates and relatively low home prices as compared to 2008.

As the year progressed, property prices only rose by a total of 3% over 2008.

The low prices held while interest rates reached the lowest they had been in over 40 years by the middle of 2009.

This drove the number of sales up and many buyers who had been previously waiting to purchase, decided to buy in 2009 before home prices began to rise much further.
We are presently in a Seller's market with a shortage of listings in Oakville over previous years. Numerous properties were getting multiple offers in the latter part of 2009.

The highest increase in sales was seen in the $450,000 - $599,999 range. In December 2008 there were only 8 sales in the $500,000 - $599,999 range while December 2009 showed 42 sales in this price range.

In December 2008 there were only 4 sales in the $450,000 - $499,999 range which increased significantly in December 2009 to 31 sales.

The highest increase in sales was seen in the $450,000 - $599,999 range. In December 2008 there were only 8 sales in the $500,000 - $599,999 range while December 2009 showed 42 sales in this price range.

In December 2008 there were only 4 sales in the $450,000 - $499,999 range which increased significantly in December 2009 to 31 sales.

If you live in the Oakville area and have been considering selling, now is an excellent time to put your property on the market.

For a no obligation, free, current market anaylysis of your home's value in today's seller's market along with recommendations that will help you prepare your home for sale, contact Jo-Anne Smith of Brekland Realty Group.

Jo-Anne offers competitive commission rates and the real estate fees may be negotiated to best meet your financial situation.

To find out the current market value of your property in Oakville or surrounding regions, call or email Jo-Anne Smith today!

©2009JoSmith