Oakville & Burlington Market Update - August 2020

As summer is winding down and the fall is upon us, we know that this year has been a memorable one in many ways. We have seen how people enjoy life differently, finding creative ways to connect with loved ones and adapt to our new normal.

The Oakville & Burlington Real Estate Markets are still booming! Healthy buyer demand and constrained supply continue to be the story for much of the country. Showing activity as tracked by ShowingTime across Ontario, Alberta and Nova Scotia in August this year remained well above the activity seen in August 2019. With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning. With mortgage rates remaining near record-low levels, high buyer activity is expected to continue into fall market. Home buyers remain extremely resilient despite COVID-19 and its economic impact. 

Below you will find the August 2020 market statistics for Oakville & Burlington. We are dedicated to providing you with the most up to date information on the market.

Across all styles of homes in Oakville, the Average Sales Price increased! Average Sales Price increased 19.3 percent to $1,674,408 for Detached homes, increased 27.9 percent to $925,483 for Semi-Detached/Townhouse homes, and increased 25.7 percent to $724,494 for Condos. Homes are selling in record time too. Across all styles of homes in Oakville, the Days on Market decreased. It’s a great time to sell!

The Burlington Real Estate Market is booming too! Across all styles of homes in Burlington, the Average Sales Price increased! Average Sales Price increased 20.5 percent to $1,176,235 for Detached homes, increased 11 percent to $686,502 for Semi-Detached/Townhouse homes, and increased 3.4 percent to $521,597 for Condos. Homes are selling in record time too. Across all styles of homes in Burlington, the Days on Market decreased. It’s a great time to sell!

We would love to provide you with a neighbourhood market update for your area!

Contact us today for your neighbourhood report.

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