Transitions-Oakville, Burlington and Mississauga Real Estate Blog: Oakville Real Estate Market Report for 2009 Compared to 2008.

Real Estate blog about property, home buying and selling, life in Burlington, Oakville and Mississauga Regions of Ontario, Canada.

Oakville Real Estate Market Report for 2009 Compared to 2008.

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.Oakville Real Estate Sales in 2009 Compared to 2008

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

Jo-Anne Smith, the author of this article, is a REALTOR® with Brekland Realty Group, Oakville, Ontario and welcomes your real estate inquiries. To contact her, visit www.oakville-burlingtonhomes.com


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Comment balloon 9 commentsJo-Anne Smith • January 06 2010 11:23AM

Comments

Hi Jo-Anne, I am presently working with an Oakville couple on a staging project for their home.  These numbers are nice to have to hand - thanks!

Posted by unknown person over 9 years ago

James,

That's wonderful! I hope these statistics give them added incentive in getting their home in top notch selling condition....with your help I'm sure it will be a showplace.

If they don't yet have an agent, I'd love to meet with them!

Jo

Posted by Jo-Anne Smith over 9 years ago

Jo

They are at the moment - however if that changes I will let you know!

James

Posted by unknown person over 9 years ago

Jo,

Interesting data. The homes I worked on priced under $500,000 moved well. Between $400,000 and $500,000 took longer to sell but did move well. It's good to see that my impressions were right.

Posted by Janice Ankrett, Staging Professional (Janice Ankrett Home Staging) over 9 years ago

Hi Jo

Good presentation and I like how you produced your graph. Good luck in 2010

Ty

Posted by Ty Lacroix (Envelope Real Estate Brokerage Inc) over 9 years ago

Jo,

 

Thanks, that's avery helpful report. And, I do have a client interested in the 450 to 600 K range in Oakville.

 

Brian

Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) over 9 years ago

Janice,

To buy a newer detached home in Oakville a buyer needs to spend about $400,000 or more....

Jo

Posted by Jo-Anne Smith over 9 years ago

Thanks Ty!

Best to you in 2010 as well,

Jo

Posted by Jo-Anne Smith over 9 years ago

Brian,

I came across one of your articles today when I clicked on a link about the home buyer tax credit. It was an excellently written article!

Jo

Posted by Jo-Anne Smith over 9 years ago

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