Oakville
Oakville is a Canadian town located on the shore of Lake Ontario. In the ranking of almost 415 towns, villages and cities, Oakville has been named as the best place and town to live in Canada by MoneySense Magazine.
The reasons for the popularity of this Canadian town are its safety, economy, culture of each municipality, easy access to schools, transit and health care centers and most importantly the affordability.
Real Estate Market Outlook For Oakville
Like the real estate markets of the other big cities of Canada, the real estate market of Oakville is dependent on the variation in the rates of different construction styles in the town.
The most important construction styles are detached homes, townhomes and condominiums. You do not have to live in the same types of houses in Oakville.
These different construction styles have increased the aesthetic beauty of the town. There are also other apartments with different construction styles but these are the most important ones.
The rates of these houses are dependent on the various factors including number of bedrooms, bathrooms, their location in the city and their total covering area.
According to a survey their rates keep on changing but currently the detached homes are at comparatively high rates while condominiums are available at lowest rates.
Real Estate Market Analysis for Oakville homes – October 2022
As of the month of October, the varying prices of different housing styles in Oakville are as follows;
The average housing price of detached homes with two bedrooms in October 2022 is $ 2.9M. This price was $1.5M around three months ago. This is a significant rise in the price.
Similarly, a townhouse with 6 bedrooms is almost $ 6.0 M. This price was $1.7M about three months ago. This is a huge rise in the rates. The reason for this rise is perhaps due the COVID-19 pandemic.
Let’s have a look at the same real estate statistics of Townhomes in October 2022. Two-bedroom townhouse currently costs $1.1M. This price was $822K about three months ago. Similarly, a four-bedroom townhome is available for sale at $1.2M. This price was $1.4M about three months ago. The reason may be the same.
At last, let’s throw light on October 2022 real estate statistics of Oakville’s condominiums. A 2-bedroom condominium is available at the cost of $567 K. This price was $ 487k about three months ago. Despite the rise in prices, these houses are still the most affordable ones in the city.
Similarly, condominiums with three bedrooms are available at the rate of $ 1.1M. This price was $ 670K about three months ago. So, we can say that condominiums are the most affordable housing styles in Oakville.
Let’s have a look at a home which is currently available for sale in Oakville. A 3 bedroom and 2-bathroom townhouse are available for sale at 48 ONSLOW Court Oakville, Ontario. This apartment is available at just $888,000.
Oakville is full of such amazingly constructed homes.
