August 2016 Market Report

Oakville, ON, September 2, 2016 – According to figures released September 1 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 10.67 per cent in August compared to the same period in 2015. Monthly property sales totaled 703 compared to 787 in August 2015.

The number of new property listings saw a decrease of 11.19 per cent, from 1,077 in August 2015 to 879 in 2016.

“We’re continuing to see a trend of low supply, however, sale prices continue to climb,” said Charlotte Forget, President of OMDREB.

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 4.49 per cent in August 2016 to $467,182,319 from $447,109,964 in August 2015.

Oakville’s median residential sale price for the month of August was $920,000, an increase of 27.80 per cent from $719,900 compared to August 2015. The median sale price in Milton was $678,527, an increase of 27.36 per cent from $532,767 compared to the same time last year.

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