HPI (Home Price Index) Trends:
- 1-Storey Detached Homes: Prices increased by 4.4%. These homes remain in high demand, particularly due to their space and accessibility. With increasing preference for larger homes, 1-storey detached properties are sought after by both families and those looking for easier mobility.
- 2-Storey Detached Homes: Prices rose by 3.7%, showing solid demand. These properties continue to appeal to buyers looking for spacious, family-friendly homes.
- Townhouses: Townhomes saw a moderate price increase of 1.8%. While less dramatic than detached homes, townhouses remain popular for first-time buyers and downsizers, offering an affordable alternative with ample space.
- Apartments: Apartments experienced a decline of -1.4%. This drop reflects the shift in demand towards larger homes, likely influenced by the continued desire for space, particularly in suburban areas like Oakville.
TRREB Market Outlook for 2025:
- Sales: TRREB forecasts 76,000 home sales in 2025, a 12.4% increase from 2024. This growth is expected due to lower borrowing costs and ample housing supply, which will help improve affordability and attract more buyers.
- Price Growth: The average price of homes is projected to increase by 2.6%, reaching $1,147,000.
- Single-family homes are expected to see stronger price growth compared to condos, as they remain in high demand.
- Condos with their higher supply, will see more stable pricing, with growth expected to be more subdued compared to detached homes.
Market Analysis:
- Current Market: Oakville’s housing market is seeing steady price increases for detached homes and townhouses, driven by strong demand and limited supply. The rise in prices for these property types reflects a preference for larger, family-friendly spaces. In contrast, apartments are seeing a slight price drop, possibly due to oversupply or shifting preferences towards more spacious homes.
- Outlook for 2025: TRREB's forecast of 12.4% more sales and a 2.6% price increase suggests a healthy market in 2025. The increase in sales is likely driven by lower mortgage rates, making homes more affordable and encouraging buyers to act. Single-family homes are expected to experience stronger price growth, while the condo market is expected to remain stable due to ample supply.
Frequently Asked Questions
How did Oakville home prices move in January 2025?
One-storey detached homes rose 4.4% and two-storey detached homes 3.7% on the Home Price Index. Townhouses gained 1.8% while apartments declined 1.4%.
Note: The market figures in this post reflect data available in February 2025. Prices change month to month — for the latest numbers, see the newest market update on our blog.
Why were bungalows the strongest segment?
Single-level homes appeal simultaneously to families wanting space and to buyers prioritizing accessibility and easier mobility. That dual demand against limited supply produced the 4.4% gain.
Why were apartment prices falling?
Buyer preference had shifted toward larger, family-friendly homes, and condo supply was higher than in other segments. Both factors kept apartment values under pressure.
What did TRREB forecast for 2025?
76,000 home sales, a 12.4% increase over 2024, with the average price rising 2.6% to $1,147,000 — driven by lower borrowing costs and ample supply improving affordability.
Which property types were expected to lead?
Single-family homes, on continued strong demand. Condos were forecast to see more stable but subdued pricing because of their higher supply.
Are these figures still current?
No — this covers January 2025 and the TRREB outlook published at that time. Contact Martin Group for current data on your property type and neighbourhood.
