Jenny Kotulak Oakville Real Estate

An article in today's Toronto Star with the headline " Pricey homes ride out the recession" led me to do some of my own investigative research on Oakville's "pricey" properties. Tony Wong the journalist who wrote the piece in the Star had this to say about Oakville.

"In Oakville, a favourite with Bay Street bankers, prices were down by almost 20 percent earlier this year. But prices have bounced back: this year's most expensive sale was a waterside home for $7 million."

The Star reporter is correct, the highest sale to date in 2009 in Oakville was a $7 Million Dollar property, but it wasn't on Lake Ontario if that's what he means by waterside. The home located in Oakville's east end was north of Lakeshore Road and next to a park although it did have over 3/4 of an acre of it's own parklike property. The newly built custom home offered 13,000 square feet of luxurious living space.

There have been 157 homes sold this year so far with a price tag of $1 Million dollars plus. Seven properties have sold between $3 Million and $7 Million. Of the 157 properties, 93 of them sold between $1 and $1.5 Million dollars.

The average sale price was $1,632,339 with the average days on market being 68 days.

How do these statistics compare to 2008?

For the same time period in 2008, Jan 1. - Nov. 4, 153 homes had sold for $1 Million dollars or more. Two homes shared the highest sale price of $5,500,000. Twelve properties sold between $3 Million and $5.5 Million dollars. Again the popular price range was between $1 - $1.5 Million with 87 transactions.

The average sale price was $1,688,563 with the average days on market being 52.

What do these stats show us?

• # of sales up by 4 this year for same time period
• Average price off by only $56,000 from last year same time period
• Average days on market was 2 weeks longer this year same time period

For buyers looking to spend over $1,000,000 there are currently 162 properties available for sale in Oakville. The highest priced listing can be had for $11,900,000. There are 32 homes available over $3,000,000.

If Oakville is indeed a favourite with Bay Street bankers as stated in the Toronto Star, I would be more than happy to give those potential buyers a tour of available homes. Although inventory is depleted in the lower price ranges, the upper end affords a great selection of homes in all Oakville neighbourhoods.

Statistics Source :OMDREB Tarasoft Matrix

Photo Source : Jenny Kotulak - Dundurn Castle, Hamilton, Ontario - Not For Sale

Jenny Kotulak Broker

Your Oakville Community REALTOR

Past President Oakville, Milton & District Real Estate Board

What's new in Oakville?

Construction of Oakville's new state of the art sports facility is well under way on the west side of Neyagawa Boulevard, just north of Dundas Street (Highway 5). Currently the 79 hectare sports complex is known as North Park.

The building currently under construction holds a quad pad arena featuring a 1,500 seat Olympic sized ice surface plus three NHL sized ice pads. Four soccer fields are to share the property along with a playground, splash pad and leash free dog park. Future plans also include a cricket patch and BMX/skateboard park.

The Town of Oakville also plans to add a community centre and library at this location once the the area is developed with new housing in the future. Oakville Transit will also have to look at servicing the facility.

For more Oakville Community information contact Jenny Kotulak Broker

Your Oakville Community REALTOR

www.oakvilleontariorealestate.ca

Many people feel that November and December are less than stellar months to buy or sell a home. I don't believe there is ever a bad time of year to make a real estate transaction. Here are 10 reasons why these months present great opportunities.

1. Unmotivated sellers take their homes off the market. Therefore there is LESS COMPETITION for serious sellers. Unmotivated sellers will put their homes back on the market in January when a rush of other will also. Chances are they still won't sell unless they are priced correctly and show well.


2. Homes SHOW WELL over the holidays. Seasonal decorations, warm fires, wonderful smells from the kitchen entice buyers. TIP: Leave some cookies on a plate for the potential buyers.


3.There may be LESS SHOWINGS but most showings will be from SERIOUS BUYERS. People are busy at this time of year and if they are out looking at homes they are usually MOTIVATED TO BUY.


4. Buyers who have just sold their homes in the FALL MARKET are looking to buy another home. These are FIRM BUYERS. Many want to be in their new home for Christmas. TIP: Treat offers from firm buyers like gold.


5.Selling your home in November or December gives you the opportunity to wait until the New Year to buy. There will be more inventory and you will be in the driver's seat.


6. Many buyers getting transferred need to relocate for the New Year. Chances are they are scouting for a new home during the holiday season when they have time to bring their family to look.


7. Many people buy homes or condos for their children who are beginning College or University in January. If you live in a College or University area this is prime time to sell. TIP: If you live in a college or university town, you should consider buying an investment property to rent out to students.


8. For BUYERS, there may be more room to NEGOTIATE PRICE as most sellers on the market are MOTIVATED to sell.


9. REALTORS are not usually as busy at this time of year. You will receive their undivided and devoted attention. The same goes for lawyers, mortgage brokers, moving companies, etc. Moving costs may be reduced.


10. Don't forget that life circumstances force people to buy and sell at any time of the year. The market for marriage, divorce, retirement, inheritance, empty nest syndrome, first time buyer, single buyer DOESN'T STOP in November and December.

TIP: Consider the months of November and December as Opportunity Time.

Thinking of migrating moving to Oakville, Ontario? Or is it time to leave Oakville for greener pastures? Many species migrate twice a year. That's a lot of work. Building a nest can take some effort. Settling in, exploring your neighbourhood, making new friends takes time. New adventures unfold. Many thrive in their new surroundings and never look back. Others eventually make their way back "home".

Whether you are flying solo, with a partner or with a flock always remember "Home is where the heart is."

If you are thinking of migrating to or from Oakville, call me to help you with your flight plan.

www.oakvilleontariorealestate.ca

This post is dedicated to Kevin & LeYen

It's that time of year and downtown Oakville is getting prepared for many upcoming festivities. Oakville's downtown core welcomes residents and visitors alike with its' unique boutiques, cafes, popular restaurants and the Towne Square which is always a hub of activity.

Other large attractions in downtown Oakville are the Oakville Centre for the Performing Arts, the Oakville Harbour and Pier and Erchless Estate Museum.

Here's what's coming up in Downtown Oakville

October 30, 2009 - Tiny Tots On Parade

This annual event celebrates year number 15 with little ghosts, goblins and munchkins all dressed up and taking to the streets all for the enjoyment of local shoppers and shopkeepers. All treats, no tricks.

November 21, 2009 - Santa Claus Parade

Santa Claus is coming to downtown Oakville just like he has done for over 60 years. The Santa Claus parade winds its way through downtown Oakville streets beginning at 9:00 a.m. Local marching bands and plenty of floats will appeal to big and little kids.

November 30, 2009 - Tree Lighting Ceremony

The annual downtown tree lighting ceremony takes place in Towne Square with special guests Santa and Mrs. Claus. Carollers will be on hand to entertain and hot apple cider will be served as refreshments. Festivities begin at 7:00 p.m. with the lighting of the tree at 7:30 p.m.

November 28 - December 20, 2009 - Christmas In Downtown Oakville

Oakville's downtown shopping area will be a hubub of activity with shops decorated for the holiday season and full of beautiful items to entice shoppers looking for that perfect gift. On weekends strolling carollers will fill the sidewalks with sounds of holiday joy and horsedrawn wagons will give rides down Lakeshore Road.

For local Oakville information please visit www.oakvilleontariorealestate.ca

Jenny Kotulak Broker

Your Oakville Community REALTOR