Absolutelt Stunning 2+1BR Condo
Market Action in Joshua Creek Jan-Feb 2017
Average Selling Price increased by 31% from Feb 2016
Median Selling Price increased by 38% from Feb 2016
Here are the Stats for prices in Feb and Jan 2017:
Detach Homes Sold in JC in FEB 2017
Detach Homes Sold in JC in JAN 2017
Market is Hot right now.
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Stats derived from MLS sales reported on TREB
Oakville, ON, February 2, 2017 – According to figures released February 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased by 3.36 per cent in January compared to the same period in 2016. Monthly property sales totaled 431 compared to 417 in January 2016.
The number of new property listings saw a decrease of 5.14 per cent, from 370 in January 2016 to 351 in 2016.
“We saw a positive start to the New Year, in terms of monthly property sales,” said Dennis Horton, 2017 President of OMDREB. “We’re excited to see how the real estate market will do in 2017.”
The dollar volume of all property sales processed through the OMDREB MLS® system saw an increase of 12.89 per cent in January 2017 to $260,196,853 from $230,486,636 in January 2016.
Oakville’s median residential sale price for the month of January was $988,500, an increase of 28.54 per cent from $769,000 compared to January 2016. The median sale price in Milton was $665,100, an increase of 20.94 per cent from $549,950 compared to the same time last year.
(Courtesy: Oakville Milton District Real Estate Board)
It is not quite Spring yet, but I thought I’d get you ready for something to look forward to. Along with Spring comes a red hot real estate market, which by the way usually starts around the 21st of January.
Listing inventory is a bit thin in Joshua Creek at the moment. At present writing on 5 Jan there are 8 homes listed and can be viewed by clicking on “Listings in JC“. Have a look at the Table below for market stats for single detach homes in Joshua Creek. The average selling price of a single detach home increased from $1.300M to $1.472M from 2015 to 2016. That is a whopping increase of 13.1%. Homes over $1M experienced a larger appreciation of $17% in average price. The lowest sold price was $810,00 and the highest $2.67M in 2016. Price appreciation in Joshua Creek is way over the average selling price of a detach home in Oakville. This creates a high demand environment from buyers wanting to move into Joshua Creek.
Some of you may be waiting for the weather to break to make a move. The current environment of low interest rates is ripe for home prices to move higher but by how much? The price of your particular home depends on many factors like location, square footage, upgrades, condition, and seller motivation. If you’re planning a move this year, let’s get together and put a plan in place to make a successful move.
Market Stats for Joshua Creek, Oakville (6 Jan 2017)