Oakville Housing Market Update - May 2025
Despite a federal election and ongoing trade war, the Oakville housing market has shown some interesting movements in April 2025. Here's a breakdown of the key statistics:
- Bungalows: Experienced a gain of 3.8% in April. This follows a significant decline of nearly 6% in March, suggesting a potential market correction.
- 2-Storey Detached Homes: The decline appears to be leveling off with a decrease of only 0.8% in April. The absorption rate for detached homes is trending upwards, now at 17%. While still in a buyer's market (below the 30% balanced market threshold), this indicates increasing buyer activity.
- Townhomes: Continued to see a price decline of 1% in April. However, their absorption rate is relatively higher at 20%, suggesting they are selling at a quicker pace. This is likely driven by first-time homebuyers who are benefiting most from the lower prices.
- Apartments: Recorded a gain of 0.5% in April – the first increase in almost a year. This uptick might be influenced by the completion and sale of several new condo developments at higher price points, potentially distorting the overall trend. The absorption rate for apartments remains low at 11.2%.
Market Projections & Insights:
- The Canadian Real Estate Association (CREA) has revised its initial forecast for 2025. Instead of an expected gain of 2.5%, they now project a decline in overall home values across the GTA by approximately 0.9%, along with a significant decrease in sales volume compared to 2023-2024.
Important Note from Martin Group:
These statistics represent the general market trends for Oakville and can vary significantly by specific community and price point.
Considering a move in Oakville?
Understanding these nuanced market dynamics is crucial for making informed buying or selling decisions. The team at Martin Group is here to provide you with personalized insights into your specific neighbourhood and property value.
Contact Martin Group today for a detailed analysis of your home's value and expert guidance in navigating the Oakville housing market.
