The Re/max 2021 Market Outlook Report was recently released and the estimated 2021 Average Residential Sales Price is expected to go up 5%. The Average Sale Price is estimated to be $1,227,941 and that is up from $1,169,468. Why are Average Sale prices going up during a pandemic? Interest rates are very low and affordable for buyers. Despite Covid-19 there was not much change in Buyer sentiments about purchasing a home. Second, there is very low inventory of homes for sale.
Move-up homebuyers are driving the market. Condominiums and 2-storey detached homes remain very popular with Buyers. Did you know the hottest Neighbourhoods in Oakville are: Glen Abbey, River Oaks and South East Oakville.
Currently in Oakville it is a Seller's market, but that may change towards a balanced market.
If you have any questions about the real estate market in your neighbourhood please call or text me at 647-984-2455 or email at email@example.com.
Posted by Bill Keay
Jackie Peifer Team