As a result, there is less than one month of inventory on the market and the average number of days on the market is 17. Increased demand in Oakville is primarily driven by foreign buyers over the last few years and this trend continued into the first quarter of 2017. Luxury homes worth $3 million and above are in particularly high demand from both move-up and foreign buyers. It has become increasingly common for existing home owners to capitalize on high demand and rising prices by selling their home and leasing the property back from the new owner. Activity is expected to remain strong throughout 2017.
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