Oakville Real Estate Market | Ross Bridges Real Estate Team
December sales were down 28% from last month, which is typical for the holiday season, and up 43% from this time last year. These sales numbers were also up 30% from 2018, showing steady growth year-over-year.
The number of active listings is down 32% compared to last year, but the number of new listings hitting the market is up by 54%. This suggests that properties are selling much quicker, and that we are in the midst of a "Seller's Market" (click here to find out what that means to you). The MOI (Months of Inventory) are currently at 1.1, compared to 2.2 at this time last year. These numbers can vary depending on the type of home, as shown in the chart below.
Average sale prices have increased by 2% from last month and are up 22% from this time last year, showing continued strength in your Real Estate investment!
Home Price Index - showing price growth over the past decade: