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Oakville Housing Market Report

By Patrick Ross · Reviewed By Jacob Norris · Last Updated September 9, 2024
Oakville housing market report

Oakville housing market overview

  • The average home price in Oakville was $1,430,334 — a 4.18% year-over-year decrease.
  • The median home price in Oakville was $1,200,000 — a 14.29% year-over-year decrease.
  • The average detached home price decreased 1.84% year-over-year to $1,953,377
  • The average semi-detached home price decreased 7.78% year-over-year to $1,076,667
  • The average condo townhouse home price decreased 16.94% year-over-year to $842,178
  • The average condo apartment home price decreased 1.36% year-over-year to $813,338

Table of contents

Average home price trends

The average home price across all property types in Oakville was $1,430,334. Home prices have decreased 4.18% year-over-year compared to the average home price of $1,492,687 the prior year. The average home price across all property types saw a 3.22% month-over-month decrease from the average home price of $1,477,883 the prior month. Here is how the average home price has changed across property types.

Read More: Home Prices in Toronto

Property Type Average M/M Y/Y
Detached $1,953,377 -2.93% -1.84%
Semi-Detached $1,076,667 +2.17% -7.78%
Condo Townhouse $842,178 +9.53% -16.94%
Condo Apartment $813,338 -5.67% -1.36%

Important Market Metrics

Sales

Oakville home sales history

Total sales in Oakville were 181 which is a 1.09% decrease from 183 sales the prior year. Here is how the sales are broken down by property type:

  • Detached: 82 — a 6.82% Y/Y decrease
  • Semi-Detached: 3 — a 25.00% Y/Y decrease
  • Condo Townhouse: 17 — a 30.77% Y/Y increase
  • Condo Apartment: 41 — a 0.00% Y/Y change

Inventory

The housing inventory in Oakville is 3.5 months which is up from 3.4 months of inventory the prior month and 2.3 months the prior year. Housing inventory in August 2024 is much higher than the historical 5-year average which is 2.03 months of inventory.

Listings

Oakville had total new listings of 496 which is a 5.98% Y/Y increase and 17.20% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Oakville was 38.10% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

Home prices in Oakville

Prices and statistics are updated for August 2024

Oakville historical home prices

All property types

The highest historical average home price in Oakville was $1,856,258 in March 2022. The highest historical median home price was also in March 2022 which was $1,650,000.

Stat August 2024 Y/Y Change
Average Price $1,430,334 -4.18%
Median Price $1,200,000 -14.29%
Sales 181 -1.09%
New Listings 496 +5.98%
Active Listings 956 +53.21%

Single-family detached home prices in Oakville

Stat August 2024 Y/Y Change
Average Price $1,953,377 -1.84%
Median Price $1,680,000 -8.57%
Sales 82 -6.82%
New Listings 229 -0.43%
Active Listings 469 +36.73%

Semi-detached home prices in Oakville

Stat August 2024 Y/Y Change
Average Price $1,076,667 -7.78%
Median Price $1,145,000 -6.34%
Sales 3 -25.00%
New Listings 7 -22.22%
Active Listings 9 +80.00%

Condo townhouse prices in Oakville

Stat August 2024 Y/Y Change
Average Price $842,178 -16.94%
Median Price $757,500 -20.26%
Sales 17 +30.77%
New Listings 42 +23.53%
Active Listings 73 97.30%

Condo prices in Oakville

Stat August 2024 Y/Y Change
Average Price $813,338 -1.36%
Median Price $618,000 -15.57%
Sales 41 +0.00%
New Listings 117 +0.00%
Active Listings 246 +52.80%

See other home prices around the GTA:

source: TBREB; CREA