March 2022 Market Update: Oakville

By: Ross Bridges

March 2022 Market Update: Oakville

Tags: March Real Estate Market, March Statistics, Team Bridges, Ross Bridges, Market Update, eXp Realty, Ross Bridges Team, Oakville Real Estate, Burlington Real Estate, the number of sales for march, the total dollar volume for march

TOTAL DOLLAR VOLUME SAW A JUMP FROM FEBRUARY

 
  • The Number of Sales for March is 405, which is up 32% compared to last month’s 307, but down 33% from 608 this time last year.
  • Months of Inventory (MOI) is 0.9, which is up from 0.6 in March 2021, but down from 1.3 which we saw in March 2020.
  • Average Days on Market (DOM) is 10, which is fairly consistent with March 2021 (12) and 2020 (11).
  • Average Sale Price is $1.9M, a 22% increase from 2021 at $1.5M.

  • With the exception of Condo Townhouses, the number of New Listings is up from February.
  • The total number of Active Listings is up 23% from last month, while Semi-Detached inventory remains low.
  • Months of Inventory (MOI) for Detached and Semi-Detached homes saw a decrease from February, while all other home types saw only a slight increase.
  • Number of Sales is up 22% for all home types compared to February but are 33% less that this time last year.
  • Average Days on Market (DOM) has remained consistent, with Detached homes seeing the largest increase from last month.
  • Condo Townhomes were the only type to see a decrease in the Average Sale Price, at $956,237 from $1,036,432 in February.
  • Average Sale Price to Listing Price (SP/LP) was down across the board this month, at 108% from 113% last month.
  • Compared to February, the Average Sale Price is up 5%, now $1,856,258 from $1,768,448.
  • The Total Dollar Volume for March was $751,784,479, quite a jump from February ($542,913,543).
  • The Median Sale Price for 2022 is $1,611,000, up $306k from 2021 and $536k in 2020.



  • Average Sale Price is up 22% from this time last year, when it was $1,526,414.
  • The Total Dollar Volume for March 2021 was $928,059,639 ($176,275,160 more than March of this year).
  • The Median Sale Price is up 23% from March of 2021’s median of $1,312,500.


 
ROSS BRIDGES REAL ESTATE TEAM - HELPING YOU FIND YOUR WAY HOME!

Check out the Burlington March Market Update to see how numbers compare to Oakville. 

Read the Oakville Market Stats for February 2021, to see the difference a month can make.


Check out Ross' podcast, Rambling REALTORS® for discussions on all things Real Estate, including trends and statistics!

Call us now! Or schedule a phone or Zoom consultation with Ross Bridges, REALTOR® - Helping you find your way home.

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