As an Oakville mortgage professional, I am proud to report that the local market began the year on a strong note!
According to the statistics in the February Oakville, Milton and District Real Estate Board report, property sales and home prices have increased year over year for the month of January, while the number of new listings has seen a temporary drop.
In January of 2017, there was a total of 431 residential properties sold. This number is a 3.36% increase from the 417 residential properties sold in the same month the year before.
There was 12.89% increase in sales volume when January 2017 is compared to January 2016. This January in Oakville, the reported sales volume reached $260,196,853 while it only hit $230,486,636 in January the year before.
New property listings dropped from 370 in January of 2016 to 351 in January of 2017, reflecting a slight 5.14% decrease.
While there have been changes, both up and down, throughout the marketplace, these changes have all been relatively small, which is great news for both buyers and sellers. These relatively small changes indicate stability in the Oakville market and a strong, stable market is the best market to invest in, especially with such a large financial decision like home ownership.
At Cashin Mortgages, we understand the significance of homeownership to our clients and how important the right home financing is to that process. We work hard for our clients, researching and analyzing the local market, negotiating interest rates and gathering the right information in order to offer the best rates and options for your mortgage products.
If you are interested in more information on how we can save you money while financing your home with an Oakville Mortgage, call us today to set up a free consultation with a member of our experienced and qualified mortgage team!