OakvilleReverseMortgage.ca is an Oakville reverse mortgage information website from Dominion Lending Centres Homestead Financial, and it has gathered the September 2026 numbers on Oakville house prices from both real estate boards that report on the town. The figures came out in early October. This page explains them for a homeowner 55 or older, and for the adult child helping with the decision.
Oakville benchmark prices in September 2026
The Toronto Regional Real Estate Board (TRREB) publishes a benchmark price for Oakville every month. A benchmark is the price of a typical home of each type, taken from the MLS Home Price Index, so a few unusually large sales don’t push it up or down.
All five Oakville benchmarks were lower than a year earlier (TRREB MLS HPI tables, September 2026).
| Home type | Benchmark, September 2026 | Change from September 2025 |
|---|---|---|
| All types (composite) | $1,128,800 | down 3.0% |
| Detached | $1,573,000 | down 3.0% |
| Semi-detached and other attached | $981,200 | down 5.4% |
| Townhouse | $700,000 | down 8.4% |
| Condo apartment | $552,100 | down 6.2% |
| Halton Region, all types | $953,100 | down 3.4% |
Townhouses fell the most, at 8.4%. Detached homes fell the least, at 3.0%.
Oakville’s composite benchmark of $1,128,800 was $175,700 above the Halton Region composite of $953,100 in September 2026, according to TRREB. Halton Region includes Burlington, Milton and Halton Hills as well as Oakville.
What sold in Oakville in September
TRREB counted 162 Oakville sales in September 2026, at an average price of $1,365,169 (TRREB Market Watch, September 2026). The median was $1,211,500, which means half the homes sold for more and half sold for less.
Oakville homes took an average of 32 days to sell in September 2026 and sold for 96% of their asking price on average, according to TRREB. TRREB also showed 4.9 months of inventory, meaning the homes for sale would take about 4.9 months to sell at the current pace.
The average sale price is higher than the composite benchmark because an average moves with whatever sold that month. Detached homes made up 85 of the 162 Oakville sales TRREB counted in September 2026.
Why OMDREB’s Oakville numbers look different
The Oakville, Milton and District Real Estate Board (OMDREB) is Oakville’s local board, and it publishes its own Oakville report. OMDREB’s September 2026 average for an Oakville single family home was $1,703,194, down 4.2% from $1,778,486 a year earlier, on 89 sales (OMDREB Market Watch, September 2026).
OMDREB’s Oakville group of townhouses, condos, co-ops, apartments and linked homes averaged $937,537 in September 2026, up 9.8% from $853,921.
The two boards’ numbers differ because they count different MLS systems and different members’ sales. Neither one is wrong. Each board describes the sales it can see.
The directions can look odd side by side. TRREB’s Oakville townhouse benchmark fell 8.4% in September 2026. OMDREB’s broader townhouse and condo average rose 9.8% the same month, and an average shifts with the mix of homes that happened to sell.
What lower prices mean if you’re 55 or older
A reverse mortgage amount is a percentage of your home’s appraised value. The percentage depends on the age of the youngest owner, from about 46% at 55 up to 60% at 78 and older.
A lower value lowers that ceiling by the same percentage. A home worth 3.0% less has a ceiling about 3.0% lower, so the change is small.
For example, a homeowner aged 72 can borrow up to about 55% of the value. On a detached home at the September 2026 TRREB benchmark of $1,573,000, the ceiling is about $862,000. On a townhouse at the $700,000 benchmark, it’s about $384,000, and on a condo apartment at the $552,100 benchmark, it’s about $303,000.
These figures are ceilings rather than quotes. Taking less than the ceiling is normal, and interest builds only on what you draw.
Your own appraisal sets the real figure
A benchmark describes a typical home, not yours. The real figure comes from an appraisal of your own home during the application, ordered by the lender or by the broker depending on the lender. An appraisal usually costs about $350.
Your home’s size, condition and location decide the appraised value, whatever the monthly benchmark says.
One month is not a forecast
The September 2026 numbers describe one month of sales. They don’t say where Oakville house prices go next, and nothing here predicts it.
Interest on a reverse mortgage adds to the balance over time. Rising house prices often cover part or all of that interest, and on average Canadian borrowers still hold about half their equity at the end.
Getting a figure for your own home
Richard Hopkins, Mortgage Broker, compares every reverse mortgage lender in Canada for Oakville homeowners 55 and older: HomeEquity Bank (CHIP), Equitable Bank, Home Trust and Bloom. You pay Richard nothing; the chosen lender pays his brokerage once the money is advanced.
Richard handles it all over email, phone and video call, with a son or daughter copied whenever you want. Getting an estimate doesn’t affect your credit.
The Oakville reverse mortgage calculator lets you try your own age and home value first. Every step from estimate to closing is shown in an illustrative Oakville reverse mortgage from start to finish. The one-time fees are set out in what a reverse mortgage costs in Oakville, and the cost of selling and buying again is in the cost of downsizing in Oakville.