Condos Led The Way in Sales Price Gains In Oakville

January 2020

The Oakville Real Estate Board reported that January 2020 MLS® residential Sales in Oakville were up by 28% compared to the same time last year from 176 January 2019 to 225 January 2020. 

While the number of residential sales increased, the number of new listings were down by 12% from 460 in January 2019 to 404 in January 2020. 

We're seeing moderate average sales price gains for all home types at $1,066,210, up 3.7% in January compared to the same time last year.

Average Sales Price For All Home Types 

Months Of Inventory (MOI)

What does the Months Of Inventory Tell Us?

The MOI for All Home Types in Oakville was at 2 months in January 2020.

MOI tells us how long it would take the listed properties to sell for a given time period, based on the number of sales made during that period.

A balanced market is considered to be between 4 to 6 months inventory, with readings below and above this range indicating seller’s and buyer’s markets respectively. 

It’s an important measure of determining the balance between supply and demand in the real estate market. It is calculated by dividing the average number of sales per month by the total number of available homes. When the supply is low, and the demand is high, average sales price trends go up. When the supply is high and the demand is low, average sales price trends go down.

The real estate market is local and statistics can differ from city to city, from neighbourhood to neighbourhood and can differ according to micro niches such as the type of housing.

Average Sales Price for Individual Home Types

Click to read the full monthly report. (Reports are updated on a monthly basis).

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*Source for statistics The Oakville Milton and District (OMDREB) Real Estate Board. Information deemed accurate but not guaranteed.