Oakville 2020 Real Estate Market Outlook
Oakville is one of the best places to live in Canada and is part of greater Toronto Area and is one of the most densely populated town with 200.000 residents. It is suburban town situated on north shore of Lake Ontario. Presently there is three months of inventory in the city’s housing market which will continue to increase by 2020.
Forecast of real estate market of Oakville:
According to report there will be a balance in housing market by 2020 and this is due to no economic changes. 5 per cent rise is expected in average residential sale price but the main reason behind this expectation is low inventory and more buyers in the region. The luxury housing market is continuously flourishing and expected to flourish more by 2020 this rise is due to the liveability of the region and there is continuous migration of the people from urban city centers (like Toronto) in this city. It is also estimated that the homebuyers demand will increase and continue to increase by 2020 as the neighborhoods in Oakville are sold faster than any other region and market will continue to thrive by the next year too.
Accordig to an expert there will be incredibly strong price appreciation in Southern Ontario, and in many other regions double digit gains can also be expected. There is steady increase in the market due to incredible increase in population, strong economy and moderate development due to these reasons there can be seen positive increase in the market by 2020. The city has a large new development sector for condos for sale in Oakville.
Current House sale report in Oakville:
Oakville is top 20 per cent for Canada due to current Canada’s national median home listing price that is $1,400,000. The median price for detached houses for sale in Oakville are listed around $1,000,000 and the most common property on the listing has 3 bedrooms. There is good news for the investors in Ontario according to stats, Oakville is on the 36th neighborhoods that have most properties available. It is recommended that you must go for the well research before investing in any property whether to sell or buy. You must also check stock on market because it is leading indicator of market price pressure that either it will increase or decrease. Currently in Oakville the stock is more than it was three months ago and stock on market is 0.03%.
Current apartment sale report in Oakville:
Oakville is in the top 20 per cent in all of the Canada’s suburbs when listed in order of real estate listing prices. The median price for Ontario is %335,000 and for the Oakville it is 4424,886 which is obviously better than the whole of the province. Oakville has huge choice for the real estate investment as compared to the rest of regions of the province, but you must research about it in more and more detail before investing in any property. Stock on market in Oakville is 0.17% and will lead to monitor the price pressure in the market.