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Oakville Real Estate Mortgage Report

Whether you are buying your first home, moving from one home to another, or just re-financing your current mortgage, knowing the current best mortgage rates avalable can save you thousands of dollars over the term of your mortgage. As an 'Oakville Real Estate Agent', I always recommend that my clients talk to my mortgage specialist, or, go into their own bank knowing what the best available rates are. Most major banks will negotiate on the rates that they are offering, and will often come right down the the best available rate, if you are knowledgable, quote the best rate, and ask them to match it. For example, if you were in the 'Oakville Real Estate' market for a home with a purchase price Read more...

GO Transit Welcomes Back Niagara Falls Rail Service

GO Transit will be once again offering weekend rail service between Toronto and Niagara Falls beginning on Victoria Day weekend. Weekend train trips will run Fridays, Saturdays and Sundays, and are great for those in the Oakville Real Estate area looking to get away for the day. "We are pleased to be able to restore our weekend rail service between Toronto and Niagara Falls," said GO Transit President, Gary McNeil. "Passengers rely on our rail service to provide a fast, convenient and cost effective travel option for their summer weekend getaways. We know that we will also attract new passengers who want to explore the beautiful Niagara Region." Read more...

Oakville Place Farmers' Market now open for season

The Oakville Place Farmers’ Market opened for its fourth consecutive season last week and will now be open every Thursday right through to Thanksgiving weekend. The market’s main feature is Ontario-grown fruit and vegetables, that are available from vendors including Blyleven Farms, McNiece Greenhouse & Produce, Richardson Farms, Andrews Scenic Acres, Hillsview Farms and Thames River Farms. The farmers hope to nurture the growing enthusiasm for eating quality locally-produced foods. Ontario field strawberries, sweet peas, asparagus, rhubarb and Ontario greenhouse tomatoes and peppers are among the early new crops that will be available when the market opens again this week. Read more...

Overnight Rate - What is the Overnight Rate?

The overnight rate in Canada is an important part of Canada’s monetary policy. The Bank of Canada has control of the key overnight rate, which determines the interest rate that major financial lenders and institutions lend and borrow one-day (or "overnight") money between each other. Read more...

Interest Rate Hike Moves to Back Burner

The Bank of Canada is almost certain to wait until the latter half of this year to raise interest rates, now that an election is in the offing. Many economists were already predicting that rate hikes would be on hold until the summer and the spectre of a federal campaign is now cementing that view. History shows that the central bank is usually reluctant to increase rates during an election, due to uncertainty about the direction of the government’s economic policies and the possibility that the move could be seen as partisan. Read more...

Oakville Real Estate – $11M spent on creek clean up

NORTH OAKVILLE TODAY - It’s been just over a year since an unknown substance was found floating down Bronte Creek and it was discovered that a nearby petroleum pipeline had cracked. Over the past 12 months, a massive clean-up effort has been undertaken at the scene near Bronte Road and Speers Road to try to restore the sensitive environmental area. On March 11, 2010, Town of Oakville staff responded to reports of a sheen on the surface of Bronte Creek and five days later, it was discovered that the source of the material was a cracked pipeline owned by Trans-Northern Pipelines Inc. At the time it was estimated that 90,000 litres of petroleum product escaped into the environment. Since then, the pipeline has been replaced, a massive excavation has taken place and groundwater has been treated and returned back to the creek. Read more...

Oakville Real Estate and GTA Market Watch

The tight market has resulted in strong price growth in April. Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year's record result, April 2011 sales were in line with the average April sales level reported over the previous five years. Oakville Real Estate agents reported 319 Oakville homes sold in April, which was down from the 392 reported in April of 2010. The decline is attributed to the lack of suitable Oakville Homes for sale to meet the demand in the current market. Read more...

Oakville Real Estate Market Watch

The tight supply of Oakville homes for sale last month helped lead to a stronger price increase than was expected in the Oakville Real estate market for the month of April. As the number of new listings dropped during the month of April, so too did resale housing sales, according to figures released by the Oakville, Milton and District Real Estate Board this week. New listings in the Milton and Oakville Real Estate areas declined from 1,764 in April 2010 to 1,558 last month, a drop of 11.6 percent year over year. Read more...

Oakville Real Estate - New French Catholic High School

The 'Oakville Real Estate' market will soon have a new French Catholic High School to offer to its residents. NORTH OAKVILLE TODAY - Bienvenue à la nouvelle école secondaire. Southern Ontario’s French Catholic school board, Conseil scolaire de district Catholique Centre-Sud (CSDCCS), announced Monday that they are planning to build a new high school in North Oakville. The board said they recently acquired a plot of land, at 2480 Dundas Street West, the proposed home of the school, located on the south side of the street to the east of Bronte Road. The property is located in the future development of “Millstone in the Park” by Fernbrook Homes, Menkes Developments. Read more...

Oakville Real Estate and GTA Market Watch

The healthy fall market continued in November and early December throughout the GTA and the Oakville Real Estate area according to figures recently released by The Oakville, Milton and District Real Estate Board and the Toronto Real Estate Board. Greater Toronto and Oakville Realtors reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year. There was also a healthy increase in the number of Oakville Homes for Sale. The average price for November transactions in the GTA was $480,421, representing an increase of almost 10 per cent over the $437,494 that was reported in November 2010. The average sale price in Oakville came in at $588,557. Year to date, the average prices are up 8.5 percent in Oakville and year-to-date sales were up by 8.8 percent, reflecting the market’s strong showing over the past several months. Oakville Real Estate Agents reported monthly sales totalling 642. Read more...

Buyer Beware! Warns Canadian Association of Movers

There are many reputable moving companies throughout the GTA and in working in the 'Oakville real estate' market, but it is important to exercise some caution when choosing a mover. Nowhere is there is a stronger case for “Buyer Beware” than in the moving industry. In a statement released today, the Canadian Association of Movers cautioned consumers against “"rogue" movers” and offers tips on “moving to protect them from over-charging, broken promises and unfair practices.” Read more...

Oakville Real Estate and GTA Market Watch

The Oakville real estate market has been very healthy so far this year, and all indications suggest it is picking up strength coming into the spring market. The mild winter and lack of snow has had many buyers out looking earlier than usual, and the limited number of Oakville homes for sale has led to many homes selling quickly, often within days of coming on the market. The average price of a home in Oakville came in at $685 155 last month, representing a 6.4 per cent increase over the average price in February 2011. The median sale price of an Oakville home rose by 15.3 per cent over the same period last year to $576 000. Oakville Real Estate Agents reported 272 homes sold in February, which was up 10.5 per cent over the number of Oakville homes that sold in the same month last year. The number of new listings for the month was also up by 3.3 per cent over the new listings reported in February 2012. While there are more new listings, the tight supply of Oakville homes for sale and the number of buyers in the market continues to push prices higher. Read more...

Oakville Real Estate and GTA Market Watch

While it has been unusually warm outside so far this spring, it seems that the real heat is in the Oakville Real Estate market. The high demand for resale homes in Oakville, and the tight supply of Oakville homes for sale has helped push prices to a new high. The average price of a home in Oakville came in at $709 417 this May, up 13.62 per cent over the average price of $624 366 that was reported in May of 2011, and represents a 1.5 per cent increase since April of this year. Oakville Real Estate Agents reported 409 homes sold in May, which was exactly the same number of Oakville homes that sold in the same month last year. There has been a slight increase in the number of new listings, and this should help take some of the pressure off of buyers, and make it a little easier for them to find a home since there is a better supply of Oakville homes for sale. Read more...

Oakville Real Estate and GTA Market Watch

The Oakville Real Estate market has remained healthy through the first half of 2013 according to statistics recently released by the Oakville, Milton and District Real Estate Board, and by the Toronto Real Estate Board. The average price of a home in Oakville was $744 724 in June, up 4.93% from June 2012. Year to date, the average price of an Oakville Home is $755 154, representing a 6.95% increase over the same time last year. The total number of home sales also increased last month with Oakville Real Estate agents reporting 283 sales, which represents a 7.2% increase over June of 2012. Read more...

Oakville Real Estate and GTA Market Watch

We are officially in the midst of another strong spring market. The Toronto Real Estate Board released the March statistics today, and they showed that Greater Toronto REALTORS® reported 9,262 transactions through the TorontoMLS® system in March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010. 'Oakville Real Estate Agents' reported 206 'Oakville Homes' sold during the same time. Read more...

Oakville Real Estate and GTA Market Watch

Oakville home sales heated up in July according to figures released recently by the Oakville Milton & District Real Estate Board (OMDREB) The number of Oakville residential sales in July climbed 12.44% over the same month last year and the average price of a home in Oakville this July rose 6.85% over July of 2013. The year to date average price of a home in Oakville came in at $808 805 representing a 7.62% increase over the same period in 2013 while the median home price rose 8.98% to $689 000 from the $632 000 median price reported in July 2013. Detached home sales accounted for 61% of the total homes that sold in Oakville during the month of July. Of all the detached homes that sold last month, 21.4% sold for a price between $800 000 and $1 000 000, while another 29.7% sold for a price that was over $1 000 000. Putting these numbers together shows that over half of all the detached homes that sold in Oakville last month had a price tag that exceeded $800 000. Read more...

Bank of Canada leaves Overnight Rate at 1%

OTTAWA, April 12 /CNW/ - The Bank of Canada announced this morning that it will be maintaining its target for the overnight rate at 1 per cent. The bank rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Since raising its overnight lending rate to one per cent in September, the bank has held steady for five consecutive policy decisions. The decision to keep the rate unchanged should benefit home buyers throughout the GTA and 'Oakville Real Estate' markets as mortgage rates should also remain low in the short term. The Prime Rate is currently at 3.0 per cent. You can always find the current mortgage rates, and some useful mortgage calculators, on the Mortgage Rates and Calculators page on this website. Read more...

Oakville Real Estate and GTA Market Watch

The Oakville Real Estate market is off to a strong start so far in 2015 according to figures recently released by the Oakville, Milton and District Real Estate Board (OMDREB) The average price of a house in Oakville for January of 2015, was $808 105, which represents a 7.83 per cent increase over the average price of $749 456 that was reported in January of last year. The median price of an Oakville home rose 12.08 per cent over last year to $694 900. 135 homes in Oakville changed hands in January, which is pretty consistent with the activity we saw last January when there were 137 home sales. The average number of days it took for a home to sell in January was 30. Read more...

Oakville Homes - Detached Homes

The 'Oakville Real Estate' market has everything one can imagine when it comes to Detached homes. You can find anything from a cozy home on a modest lot to a multi-million dollar estate with Riparian rights. Detached homes can also vary widely in the types and styles available to choose from. You will find anything from Bungalows and Raised Bungalows, Side Splits and Back Splits to 2 and 3 story 'Oakville homes'. The type and style tend to vary with the age and location of the neighbourhood. You will usually find bungalows and sidesplits in some of Oakvilles more established neighbourhoods, and in the newer developments the most common home you will find is a 2 storey with a single or double car garage. Read more...