I listed my home in Old Oakville, 2 streets south of Lakeshore. Sold in 6 .5 weeks at just over 95% of asking. Just under 3m.
Congrats. 6.5 weeks, I'm seeing houses sitting going on 3 months now and prices slowly dropping. What a difference from last winter.
My agent was George Niblock. He said that there is a lack of inventory in that price range, in Old Oakville. The average gain per year is 14%.
Well, according to treb : On a year-over-year basis, October sales were down compared to 9,715 transactions in October 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 2016. Let's see how the market shapes up with the new OSFI regulations coming for Jan 2018 http://www.trebhome.com/market_news/release_market_updates/news2017/nr_market_watch_1017.htm
It is my understanding that certain areas of Oakville have a short supply of inventory. The gain average in east Oakville was 14% Old Oakville was 8%. Typical is 5%.
Well, the numbers are just out. Nov 2017 sales up over Oct 2017 , but as expected, sharp drop compared to Nov 2016. We have another 5 months of this as last year at this time we had record breaking everything. Let's see how the new regulation will impact everyone in the coming months. We are in a more balanced market for sure, now is a.mucb better time to buy or trade up or down compared to last year. http://www.trebhome.com/market_news/release_market_updates/news2017/nr_market_watch_1117.htm
If the US goes 08 or even 1987 again. Canada this time is in a very bad position on the pole. More so in Vancouver. My street has some older farm houses with retired old people living there. Someone bought one of these houses on five acres. Tore down the farm house. Put a manufactured home on the property. They paid $195k last year and sold it by August for $1.25 million. Now my street is reassessing property values for tax. Suddenly these old houses are assessed at $1million now and doubled the tax bill on these seniors. Canada is toast in how do people afford a $1million house on little too no income.
Its different but the same. As both have $1million average houses now and 0% down on low income. Recipe for disaster.
Since the thread is called Luxury Waterfront property in Oakville, I'm wondering if any property in Oakville is moving at all at this point. There are two units in our waterfront East Oakville condo (only condo on the water in East Oakville) and I don't think either has received an offer in more than 6 months of listing.
My brother works with Invidiata as an agent. Condos are pretty much a dead market at the momment. Homes in the 1 million range are still selling. Anything 3 million and over are sitting for longer periods compaired last year.
Really? In 416 the average condo is a $1,000 a sq foot and selling .... one would think the waterfront along Oakville being around $800 a sq ft are selling. Does he say why the market is quiet? Where are the Oakville/ Burlington baby boomers with 4,000 sq ft homes going? Hot property on CP24 is doing nothing but promoting that condo sales are through the roof for 416/905
We are around $1400/sq ft. The two units for sale are $3.8mm and $3.7.mm One sold last summer for $4.5mm
Waterfront still moving from my occasional glances to make sure I didn’t overpay. Also prices are up over last Oct when I closed