Sales are UP but inventory is DOWN. The January 2020 residential real estate market in Oakville has been off to a ROAR due to a record low inventory of listings and pent up demand from buyers not finding many options in the market. The unusually mild weather took the chill out of a typically slow December and January market—looks like an early and very brisk Spring market is upon us. I expect many listings that didn’t sell over the past few years to quickly jump onto the market. Buyers should be cautious not to get caught up in a February/March 2017 mentality that prices have nowhere to go but upwards. Make sure you have an experienced and trusted realtor to guide you through what will be a very fast moving but difficult market to navigate. It’s an excellent opportunity for sellers who have been thinking about whether the time is right, as prices have risen over 2018 & 2019 and buyers continue to look at Oakville as a fabulous place to live, raise a family, retire and enjoy our great community.
Visit TREB for their full market report and yearly comparisons on residential sales in the GTA.