DECEMBER MARKET UPDATE 2022

According to figures released by The Oakville, Milton & District Real Estate Board, the average sale price in Oakville for a detached house in December 2022 was $1,848,981 down 15.30% from $2,182,156 in 2021. The average sale price for a townhouse/condo was $946,300 down 8.3% from $1,031,432 in 2021. The average price year to date was $1,078,250 up 9.70% from last year 2021.

“The number of homes for sale has been reduced markedly from the summer, with inventory levels firmly at a seller’s market level. Additionally, the Bank of Canada appears to be almost done raising rates, which should help put a floor under prices. Once the market has had time to digest the new pricing and rate environment, the lack of supply will come into focus – with record immigration and double-digit rent increases helping resume demand for homes in the area.” says OMDREB President Hunter Obee.

Please click the above boxes to view this months stats for 2170 & 2180 Marine Drive and 2175 & 2185 Marine Drive.

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As always, we look forward to hearing from you.

Anita & Matt Sullivan