Oakville Housing Sales For October 2020 During A Covid Pandemic
Every aspect of Oakville and Milton sales are up in October 2020 compared to October 2019 except days on market. A tell tale sign sales are way up when dollar volumes sales and the number of sales has increased triple digit percentages further to the fact the number of days on market has also reduced significantly.
According to figures released November 6 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased drastically in October compared to the same period in 2019. Monthly property sales went up by 352, totalling 642 compared to 290 in October 2019.
The total number of new property listings saw a large increase this year: 822 new listings in October 2020 compared to 503 in 2019.
In Oakville, the average sale price for a home in October 2020 was $1,641,392, up 27.2 percent from $1,290,881 in 2019.
Despite industry warnings that the market would cool off in the last half of the year, we continue to notice a rise in all data points and figures. When you take into consideration this year’s challenges of COVID-19 prompting a near full-stop to any public open houses and drastically reduced in-person meetings for listing or buying, this truly is an incredible real estate market.
We are seeing some softness in the condo numbers as lower interest rates and fewer tenancies has provided great opportunity for Buyers seeking more spaciousness in property and home lifestyle, driving them out from higher density neighbourhoods to wide open suburban spaces