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New Condos Oakville

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You’re in the best place to find out about the new condos in Oakville! Sitting by Lake Ontario between Toronto and Hamilton, you’ll find the perfect harmony of urban amenities and suburban calm!

Oakville Pre-Construction Condo Market Trends 2024

The average price per square foot for new pre-construction condos in Oakville is $920. The average selling price for homes in Oakville over the last 30 days was $1,929,724. The average rental rate, for a one-bedroom condo in the area is $2,283. The vacancy rate is a low 0.4%, indicating high demand for rental properties. New condos in Oakville take 36 days to sell. But, townhomes in Oakville stay on the market for 18 days, selling faster.

Pre-Construction Condos Oakville

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Reasons to Invest in New Condos in Oakville

A Green City

When buying new developments in Oakville, you choose to settle in a green city. Besides sustainable principles applied to pre-construction condos in Oakville, The businesses that choose to live here have put a lot of money into green technology and sustainability. That has obviously attracted many businesses and people to call this place home.

Effortless Transit & Ultimate Convenience

When buying new homes in Oakville, you’ll be close to two beautiful harbours: Bronte Harbour is to the west and Oakville Harbour is close to downtown. Festivals and art fairs are held in these lively places, which add to the town’s charm. The Oakville Centre for the Performing Arts has a lively arts scene with shows from around the world. With two GO stops, improved Oakville Transit facilities, and major roads like the QEW, 407, and 403, Oakville makes it easy to get around and offers a rich cultural experience.

Strong Market Demand and Investment Potential

It is projected that by 2031, there will be about 255,000 people living there. The Halton Region, of which Oakville is a part, is predicted to experience a tremendous boom in the coming 25 years. Over the next 15 years, the number of jobs will likely grow at the same rate as the population. In 2031, there will be 410,000 jobs in the area, with 127,000 in Oakville. That is surely set to boost demand for Oakville pre-construction condos. In short, Oakville remains a top choice for real estate investment in Canada.

Oakville Rental and Seller Market 2024

Rental Market

According to recent report by Toronto Regional Real Estate Board the average rental rate for a one-bedroom condo is 2,283. Oakville pre-construction condos are still in high demand here, with a vacancy rate of just 0.4%. 

Seller Market

New builds in Oakville sell at around $920 per square foot. The average resale price for old and new condos for sale in Oakville is currently around $1,623,505.

Average Renting and Selling Time in Oakville

-New Condos

Renting Time for Condos: As of June 2024, old and new condos in Oakville typically remain on the rental market for more than a month. 

Selling Time for Condos: As of June 2024, a condo for sale in Oakville goes for $693,655 on average, staying on the market for 36 days

-New Homes

-Renting Time for Homes: As of June 2024, the average renting time of detached homes in Oakville is around 20 days. 

-Selling Time for Homes: In the past 30 days, the average price for homes sold in Oakville was $1,929,724. New homes in Oakville stay about 18 days on the market.

Neighbourhoods

Old Oakville

This historic neighbourhood is known for its charming downtown and gorgeous waterfront vibe lined with heritage homes.

1. Downtown Oakville

  • Highlights: Boutique shops, fine dining, waterfront parks
  • Perfect For: Townhome developments in Oakville in this area are perfect for those who love a vibrant, walkable area with a mix of historic charm and modern amenities

2. Old Oakville Waterfront

  • Highlights: Stunning views of Lake Ontario, marinas, lakeside trails
  • Perfect For: Water enthusiasts and those who appreciate scenic landscapes

Bronte

Standing along the shores of Lake Ontario, Bronte is a lively community with a strong maritime heritage, offering a mix of new Oakville condos for sale in three areas: 

1. Bronte Harbour

  • Highlights: Marina, waterfront restaurants, sailing clubs
  • Perfect For: New townhouses for sale in Oakville in this area is are ideal for boating enthusiasts and those who enjoy a lively waterfront atmosphere

2. Bronte Village

  • Highlights: Shops, cafes, community events
  • Perfect For: Families and individuals who enjoy a close-knit community with plenty of local amenities

3. West Oak Trails

  • Highlights: Scenic trails, parks, modern homes
  • Perfect For: Active families and outdoor enthusiasts

Glen Abbey

Famous for its beautiful golf courses and green spaces, Glen Abbey is a modern suburban haven with two popular areas, hosting many pre-construction condos in Oakville:

1. Pilgrims Way

  • Highlights: Family-friendly parks, good schools, recreational facilities
  • Perfect For: Families looking for a safe, community-oriented neighbourhood

2. Heritage Glen

  • Highlights: Quiet streets, quality schools, convenient shopping
  • Perfect For: Families and professionals seeking a peaceful suburban lifestyle

Pros of Living in Oakville

  • High Quality of Life: With first-rate medical care, excellent educational institutions, and an affluent setting with higher-than-average income levels, buying new builds in Oakville provides a comfortable lifestyle. Its lovely parks and clean, safe neighbourhoods add to the great quality of life there.
  • Serene Nature Vibe: With its stunning waterfronts, verdant parks, and miles of trails, Oakville is a popular destination for outdoor enthusiasts. Buying new pre-construction homes in Oakville gives you access to a wide range of year-round activities, including sailing, golfing, hiking, and bicycling.
  • Tight-knit Community: A lot of people in Oakville join together for things like festivals and farmers’ markets, which contribute to the town’s strong feeling of community. Everyone, from families to single people, will feel at home in this town because of its warm hospitality.
  • Close to Toronto: New condos in Oakville are great places to live if you’re looking for a suburban setting close to all the activities of Toronto without sacrificing any of the city’s cultural offerings, career opportunities, or conveniences. 
  • Top-notch Education: Public, private, and foreign schools in Oakville are among the finest in all of Ontario. In addition to its renowned business and arts departments, Sheridan College also maintains a campus in Oakville, housing over 12,000 students.

Cons of Living in Oakville

  • High Cost of Living: Oakville has a comparatively high cost of living, especially for housing. Rents and property costs are among the highest in the area, which can put off some would-be inhabitants looking for pre-construction homes in Oakville.
  • Less Urban Entertainment: Oakville, while charming and community-focused, may not offer the same level of urban entertainment and nightlife as larger cities. It can be a little quiet for those who are looking for a lively, busy city vibe.

FAQs About New Condos and Homes in Oakville

What is the average price of new pre-construction condos in Oakville in 2024?

Currently, pre-construction homes in Oakville sell for $920/sq ft on average.

What is the average condo appreciation rate in Oakville?

In the last ten years, the average condo appreciation rate in Oakville has been 8.03%.

How much downpayment for Oakville condos for sale?

The minimum downpayment is 5% for condos below $500,000. For condos up to $999,999, it’s 5% of the first $500,000 and 10% of the remaining sum. For condos $1M and above, the minimum downpayment is 20% of the whole price.

Are condos selling in Oakville?

Yes, Oakville is indeed a fast-selling city in Canada. The sales-to-new-listings ratio (SNLR) for Oakville in the past 30 days was 42.6%, which suggests a balanced market. This means that the supply of new homes in Oakville and the demand for them are currently in equilibrium.

Is it a good time to sell a condo in Oakville?

With the current SNLR rate and the slight dip in the prices of new builds in Oakville, it is a better time to buy than sell properties like townhomes in Oakville.

Why are condo prices so high in Oakville?

Besides the increasing interest rates and construction costs, Oakville is the one of the fastest-growing city in Canada, holding significant potential for appreciation. That may explain why so few owners are willing to sell their homes and most buyers choose pre-construction homes over the completed ones.

What amenities can I expect in condos for sale in Oakville?

Condos and homes in Oakville boast top-tier amenities and stylish features. You can enjoy modern designs, spacious layouts, and high-end finishes. Pet-friendly spaces, playgrounds, BBQ areas, and numerous parking spaces are just a few of the communal benefits.

Why should I consider buying a new condo in Oakville in 2024?

Oakville offers a thriving economy and unparalleled lifestyle, with nearly full employment and high incomes. Residents enjoy Lake Ontario views, and a vibrant downtown with top-notch schools, hospitals, and +400 shopping outlets, making it one of the best places to live and raise kids.

What is the rental market like for condos in Oakville in 2024?

A recent report from the Toronto Regional Real Estate Board indicates that the average rental rate for a one-bedroom condo is $2,283.

How is the public transportation system in Oakville?

From GO stations and VIA Rail systems to massive highway access, Oakville connects all residents easily to every corner of the GTA. So, whether it’s outer city travelling or just everyday commuting, there’s no shortage of transportation arteries.

What are some of the best neighbourhoods for new homes in Oakville?

The great thing about Oakville is that most neighbourhoods actually offer great amenities and affordable pricing. But, you need to put Old Oakville, Bronte, and Glen Abbey on your shortlist.

Are there good schools in Oakville?

Yes, Sheridan College, perfect for arts and business, is one of the main educational hubs in Oakville.

What is the economic outlook for Toronto in 2024?

In 2024, Oakville’s economic outlook is promising. With a median income of $81,376 and a low unemployment rate of 4.8%, the town boasts economic stability. Continued investment in local businesses and infrastructure further enhances its growth prospects.

What are the future development plans for Oakville in 2024?

There are numerous new builds in Oakville, both pre-construction and under-construction. Many take place in Old Oakville, Bronte, and Glen Abbey. They span everything from new homes in Oakville, to condos, mixed-use developments, and even master-planned communities.

How can I stay updated on new condo developments in Oakville?

To get priority access to info on new condos in Oakville, you can easily subscribe to our newsletter or register at our Platinum Condo Deals website.