Oakville Real Estate Market Stats: May 2025 Review

May brought some positive news to the Oakville real estate market, with sales volume increasing for the first time this year. While higher sales numbers indicate encouraging signs, inventory continues to grow significantly.

Key Takeaways

• Sales volume in Oakville increased by 18% compared to May last year.

• Active listings surged to over 1,400 units, up 62% year-over-year.

• Average home prices in Oakville declined by 9.1% in May.

• Properly priced and staged homes continue to sell well.

Increased Sales Volume: A Positive Turn

Sales in Oakville rose by 18% in May, marking the first uptick in sales activity this year. This improvement is promising for both buyers and sellers looking for more activity in the market.

However, despite the positive trend, the pace of sales isn't quite keeping up with the inflow of new listings.

Surging Inventory: A Buyer’s Market

Active listings in Oakville have reached more than 1,400 units, nearly double the historical average and 62% higher compared to May of last year. Similarly, available listings across the GTA exceeded 30,000 units, a 42% increase year-over-year.

This rise in available homes offers buyers greater choice and negotiating power, though it presents sellers with increased competition.

Pricing Trends: Prices Continue to Slide

The abundance of inventory has placed downward pressure on home prices. Oakville saw the average home price decrease by 9.1% in May compared to last year, while prices across the GTA declined by 3.84%.

Homes priced realistically and presented attractively continue to attract buyers, but ambitious sellers aiming for record-setting prices or comparing to previous peak years find themselves waiting longer on the market.

Interest Rates and Economic Factors

The Bank of Canada held its overnight lending rate steady at 2.75% for the second consecutive period, continuing its strategy to combat inflation and await further developments from US trade negotiations.

Meanwhile, fixed mortgage rates, linked closely to bond markets, have seen minimal change since last fall, providing little stimulation to the housing market.

Looking Ahead

The recent increase in sales volume is encouraging, and we remain hopeful this momentum will continue throughout 2025. Sellers should be strategic with pricing and presentation to capitalize on the current market conditions, while buyers benefit from expanded choice and potential value opportunities.

Thinking of buying or selling in Oakville? Vieira Real Estate Associates are here to guide you through every step. Contact us today to discuss how these market conditions impact your real estate goals.