Oakville Real estate Update October 2023
Last month we saw more houses coming on the market and fewer being sold. Even so it’s still a balanced market. Time on the market was less than a year ago with homes that are priced right selling quickly. Prices are comparable to last October with a slight increase about 1%. Buyers tend to be sitting on the sidelines waiting to see interest rates stabilize.
The bank of Canada left interest rates at 5 % it was the 2nd consecutive rate pause this year. It looks like we might be set for a healthy spring market and with that prices will begin to increase. Timing is everything and it’s a good time to buy. Higher interest rates will be offset by price increases.
If you’re thinking about making a move (or know someone who is) I’m only a text, call, or email away.
Be sure to check out my free local Facebook Group, Meet Me In Oakville. It’s a great place to connect with other community members and get weekly updates on the best events and happenings in and around town.
Ready to buy a home? I have some recommendations for great lenders. Just send me an email to hello@meetmeinoakville.com or call or text me at 365-675-0734
No pressure, no sales tactics, just the help and guidance that you need, when you need it!
