The hottest price point to buy right now, is a home priced anywhere in between $500,000 to $800,000!
Why? Because it is rare to find any properties list for sale in this price range. This price point also seems to be attracting first time home buyers who are rushing to get into the market before rates continue to increase in 2018.
There are over 2000 homes in Oakville listed for sale on TREB and OMDREB, and many fall into the over $1,000,000 price point! Oakville’s average price point well proceeds over the $1,000,000 range. How did this happen? The 2017 Market, specifically between January and June caused a fury of homebuyers to compete and overpay for homes by up to 30% or more. Price points in 2018 have come down significantly, and we are now experiencing a more balanced market with still incredibly low interest rates. That is the good part. The bad part is, this Fall season, we may begin to see increased home prices in certain communities/cities.
What does this mean for Home Buyers? It means it’s time to negotiate on your terms. With an abundance of listings, low interest rates, 2.45% Variable or less and 3.44% Fixed or less, it’s a great time to make your dreams come true and buy a good size home at reduced pricing, at considerably low interest rates and still include your Home Inspection and Finance Clause to protect your best interests.
If you are looking at buying a home in Oakville, give us a shout and we can show you where the deals are right now. There are approximately 100 homes for sale that need to be sold today. Let us show you which homes are priced to sell fast, so you can take advantage of this competitive Real Estate Market!