As of Oct 3 there are 628 available listings on the Oakville Board. This is up from 603 less than a month ago. In the last 30 days 282 homes in Oakville were sold or about 45% of the currently available listings. This is the third month where the sales to listing ratio has been off the scale of normal. The inventory is low. My guess remains as it was last month that inventory will continue to be low, that both sales and listings increase and that there will be upward pressure on prices. It is basic economics and until the appetite for home ownership subsides we may be in for a bit of a upward bubble. Hang on and enjoy the ride. If you are a buyer you may want to act now before the economy and jobs start to increase again and interest rates start creeping up.
Cheers..Doug Izon P. Eng. Real Estate Broker, Century21 Dreams 905-599-1265 www.EyesOnOakville.com; Mortgage Broker, Centum Total Mortgage Services Inc. Lic # 10646 www.eyesonoakville.ca
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