What the Oakville Real Estate Market will look like in 2018.
If you’re struggling to make sense of all the various market reports these days, let’s consider the context.
For the most part, what we hear in the news is capturing one moment in time compared to the same moment last year.
However, we typically view our home purchases with a medium-to-long-term horizon of 5-10 years. Therefore, it’s important to view the market influencers over a similar time frame.
The fact is, the current softening of the market is actually a good thing…
We entered 2017, with a very limited housing supply, which led to bidding wars and unsustainable spikes in real estate prices.
But don’t expect this market slowdown to last.
While 2018 may see some adjustments in the 1st ½ of the year, all indications are that prices will continue to increase as a function of strong demand.
So rest assured, real estate investing in this community will always be a wise choice.
No Two Oakville Neighbourhoods Are The Same…
The great news is that the overall average selling price for all home types in both North & South Oakville has increased by more than 50% over the past 10 years.
More importantly, the above charts clearly illustrate that no two neighborhoods are exactly alike, and so too are their trending percentage increases over the last 10 years, 5 years and the past 24 months.
Whether selling your home, or deciding in which neighborhood to buy, understanding these differences will give you confidence knowing you’ve made an informed decision.
Bottom Line, What Should You Do?
If you’re looking to sell or buy – now is the best time to reach out to a trusted realtor.
For Buyers, now’s a perfect time to consider your options and conduct due-diligence before buying.
For Sellers, the ideal time is dependent on a variety measures; your location and existing trading activity, asking price, time of year, and of course, the condition of your home.
With no-obligation whatsoever, we offer consultations for both buyers and sellers to help you make this important decision. Contact us today: 905.845.4267