Sales fell to a multi-year August low while new listings dropped 38%. A quieter market on both sides.
The average close price moves with the mix of homes sold each month. The MLS® HPI benchmark below tracks like-for-like value and is the steadier gauge.
August produced 196 sales across Oakville — down from July’s 248 as the summer wound down, and 8% below last August’s 212. It is the first month since February to trail the year before, and the quietest August in recent years. The direction matches the GTA, where sales ran 2.1% below last August — though Oakville’s pullback was deeper. With February through July all ahead of 2025, whether this is one soft month or a change of pace is a September question. The year now stands at 1,763 sales to last year’s 1,710.
The month’s real story is supply. Only 429 new listings came to market — 38% fewer than last August (a high base, though still roughly a quarter below the two prior Augusts), and the quietest August for listings in years. Across the GTA new listings fell just 14% — Oakville’s sellers are holding back far more than the region’s.
Buyers stayed unhurried: the average sale took 40 days, the slowest August in at least four years, and inventory sat at 7.8 months of supply (7.2 a year ago) — a ratio that rises every August as sales slow while active listings hold steady. The average close of $1.34M ran 7.9% below last August — but that largely reflects the mix of homes sold; the benchmark is the steadier gauge.
The benchmark slipped to $1,166,200, down 0.8% on the month, continuing a gentle drift from its May peak. It sits 6.0% below last August, a gap that opened almost entirely last fall. One soft month is not a trend, but it is worth watching as the fall market opens.
The benchmark peaked for the year in May and has eased gently since; August came in at $1,166,200, down 0.8% on the month. A year ago it stood at $1,240,800; the 6.0% gap opened almost entirely last fall.
Average and median prices move with the mix of homes sold each month, and can paint an inaccurate picture of values and trends. The MLS® Home Price Index uses more than 15 years of MLS® System data and statistical models to define a “typical” home for each neighbourhood and housing type, then tracks its value month by month. That like-for-like comparison makes it the most accurate gauge of a neighbourhood’s price levels and trends.
Buyers aren’t rushing and sellers aren’t listing. With 38% fewer homes coming to market, a well-priced listing has less to compete with.Key insight · August 2026
For a closer look at Old Oakville, Morrison and Ford, see the Southeast Oakville Market Brief.
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