Number of Days are UP!

Well, compared to 2017 when homes were flying off the MLS charts, number of days on the market are quickly changing throughout all 63 Canadian Cities, as reported by the National Post. Even compared to 2018, they are much different.

Although OMDREB, Oakville, Milton & District reported Days on Market to be 47Days in January 2019, the recent data as documented by The National Post, puts Oakville Homes selling in 28Days, which considering the change we are experiencing month over month, it is not too bad. When we compare Oakville to other Canadian cities, we are one one of the lowest of the 63. Shaguenay, Quebec takes 134Days to sell a home, this is the highest number of days reported! How crazy is that! The lowest number of days reported goes to Windsor Ontario, with homes selling in just 12Days. One factor for this may be due to affordability in Windsor, with homes having better value for the buck. We are seeing many Home Sellers/Owners take advantage of home prices in Oakville and after selling, we see them move East to West where they can buy for less and bank the rest!

Toronto and Vancouver numbers have changed, but not too drastically. It takes homes 23Days to sell in the Toronto Market, while in Vancouver it takes 56Days. Some believe this to be high.

If you want to read more and see where your city sits on the chart, visit this link at:

https://www.huffingtonpost.ca/2019/02/06/days-on-market-canada_a_23661049/?fbclid=IwAR1dHWNmPc-yh9MTuxyDKosUioLQTX1yzdQ68JKkFS

If you would like to know more current up-to-date information on Oakville communities, give us a shout, we would be happy to share Real Estate Data with you anytime. Helping You is What We Do!

Wayne and Virginia Munden

www.mundenhomes.com