Oshawa Housing Market Report

WOWA Trusted and Transparent
Market Report Summary for October 2022
Updated November 9th, 2022
  • Oshawa’s housing market saw a significant decrease in home prices this month, as the housing market continues to cool.
  • Detached home average price decreased by 11% year-over-year to $854k.
  • Semi-detached home average price decreased by 9% year-over-year to $693k.
  • Freehold townhouse average price decreased by 2% year-over-year to $745k.
  • Condo townhouse average price decreased by 19% year-over-year to $533k.
  • Condo apartment average price increased by 51% year-over-year to $576k.

Oshawa Housing Market Overview

Data for November 2022
Avg. Sold Price:$788,890
All Property Types:$788,890
Detached:$853,887
Semi-Detached:$693,000
Freehold Townhouse:$744,692
Condo Townhouse:$533,001
Condo:$576,000
Transactions (Buy/Sell):161
All Property Types:161
Detached:108
Semi-Detached:16
Freehold Townhouse:18
Condo Townhouse:15
Condo:4
Best 5-Year Variable Mortgage Rates in Oshawa
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BMOBMO
5.64%
CIBCCIBC
5.69%
TDTD
5.70%
RBCRBC
5.75%
ScotiabankScotiabank
6.15%
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The average price of a home in Oshawa was $782,227 for the month of October 2022, which is an 8% decrease year-over-year and a dramatic 5% decrease compared to last month. Falling Oshawa home prices are not unique to Oshawa alone, as home prices across the GTA plunge into negative year-over-year growth. That’s largely due to higher borrowing costs as mortgage rates soar, a sign of the times as the Bank of Canada aggressively hikes interest rates.

Another sign that Oshawa’s housing market is slowing is the slump in sales activity seen this month compared to the same time last year. There were 192 home sales in October 2022, a 39.5% decrease from the 317 home sales seen in October 2021. As Oshawa’s housing market slows, sales activity and home prices are falling.

Looking at property types, the average price of a detached home in Oshawa was $846,691 in October 2022. That's 9% lower compared to last October. Detached home sales in Oshawa are also down by 38% year-over-year. For semi-detached homes, the average price in Oshawa was $684,386, which is a 4% year-over-year decrease. Semi-detached home sales are down 31% year-over-year.

$811,100 was the average price of a freehold townhouse for October 2022, relatively unchanged compared to last year. Meanwhile, condo townhouse prices are down 3% year-over-year to $547,553. Condo apartments were the only property type in Oshawa to see a higher average price this October compared to last year. This month's average price of $430,500 is 0.5% higher than October 2021's average price.

Oshawa home prices still remain in line with Ontario home prices, and are still more affordable compared to other cities in the GTA. As interest rates rise further, it remains to be seen how Oshawa's housing market will compare with the rest of the region.

Oshawa's average sales price to list price ratio is at 102%, which means that the average home is being sold for 2% over asking. In comparison, the GTA average ratio is 98%, which means the average home in the GTA is being sold for under-asking. Oshawa's average listing and property days on market are also below the GTA average, while Oshawa has a higher sales-to-new-listings-ratio (SNLR). This all points towards Oshawa having a slightly stronger market compared to its neighbours.

Home Prices in Oshawa

Single-Family Detached Home Prices in Oshawa

Statistics for November 2022
Average Price: $853,887-11.4% from Nov. 2021
Units Sold: 108-49.3% from Nov. 2021
New Listings: 181-12.1% from Nov. 2021

Semi-Detached Home Prices in Oshawa

Statistics for November 2022
Average Price: $693,000-8.9% from Nov. 2021
Units Sold: 16-54.3% from Nov. 2021
New Listings: 19-47.2% from Nov. 2021

Freehold Townhouse Prices in Oshawa

Statistics for November 2022
Average Price: $744,692-1.5% from Nov. 2021
Units Sold: 18-18.2% from Nov. 2021
New Listings: 3584.2% from Nov. 2021

Condo Prices in Oshawa

Statistics for November 2022
Average Price: $576,00050.9% from Nov. 2021
Units Sold: 4-78.9% from Nov. 2021
New Listings: 1318.2% from Nov. 2021

Oshawa Housing Market Statistics for All Property Types

Data for October 2022
$788,890
Avg. Sold Price
0.85%
Monthly change
-0.99%
Quarterly change
-8%
Annual change
161
Transactions (Buy/Sell)
-16%
Monthly change
-32%
Quarterly change
-50%
Annual change

Average Sold Price

Total Transactions

Property Type Distribution

Detached
Semi-Detached
Townhouses
Condo Apartments

Free Home Value Estimator

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Housing Markets Across Canada

Interactive Map - Hover Over Province for Details
ONQCMBSKABBCNBNSPEToronto$1,089,428Vancouver$1,231,805Hamilton$790,130Montreal$557,009Ottawa$624,003Edmonton$381,451Calgary$509,576Winnipeg$354,818London$640,570
$266k to $300k
$300k to $349k
$349k to $386k
$386k to $436k
$436k to $705k
$705k to $933k

Oshawa Housing Market Overview for Detached Homes

Data for October 2022
$853,887
Avg. Sold Price
0.85%
Monthly change
5%
Quarterly change
-11%
Annual change
108
Transactions (Buy/Sell)
-21%
Monthly change
-27%
Quarterly change
-49%
Annual change

Average Sold Price

Transactions


Oshawa Housing Market Overview for Semi-Detached Homes

Data for October 2022
$693,000
Avg. Sold Price
1%
Monthly change
-2%
Quarterly change
-9%
Annual change
16
Transactions (Buy/Sell)
-20%
Monthly change
-6%
Quarterly change
-54%
Annual change

Average Sold Price

Transactions


Oshawa Housing Market Overview for Townhouses

Data for October 2022
$744,692
Avg. Sold Price
-8%
Monthly change
-0.32%
Quarterly change
-2%
Annual change
18
Transactions (Buy/Sell)
100%
Monthly change
29%
Quarterly change
-18%
Annual change

Average Sold Price

Transactions

Oshawa Housing Market Overview for Condo Apartments

Data for October 2022
$576,000
Avg. Sold Price
34%
Monthly change
52%
Quarterly change
51%
Annual change
4
Transactions (Buy/Sell)
-60%
Monthly change
-56%
Quarterly change
-79%
Annual change

Average Sold Price

Transactions

Greater Toronto Area (GTA) Breakdown by Region

Data for October 2022

Glossary and Definitions

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

  • Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
  • Liability for any property damage or bodily injury suffered on strata property
  • Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.

Housing Markets Across Canada

Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.