Oakville Real Estate and GTA Market Watch

The Oakville real estate market has been very healthy so far this year, and all indications suggest it is picking up strength coming into the spring market. The mild winter and lack of snow has had many buyers out looking earlier than usual, and the limited number of Oakville homes for sale has led to many homes selling quickly, often within days of coming on the market. The average price of a home in Oakville came in at $685 155 last month, representing a 6.4 per cent increase over the average price in February 2011. The median sale price of an Oakville home rose by 15.3 per cent over the same period last year to $576 000. Oakville Real Estate Agents reported 272 homes sold in February, which was up 10.5 per cent over the number of Oakville homes that sold in the same month last year. The number of new listings for the month was also up by 3.3 per cent over the new listings reported in February 2012. While there are more new listings, the tight supply of Oakville homes for sale and the number of buyers in the market continues to push prices higher.

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