September 2016 Market Report

Oakville, ON, October 4, 2016 – According to figures released October 4 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 9.44 per cent in September compared to the same period in 2015. Monthly property sales totaled 739 compared to 816 in September 2015.

The number of new property listings saw a decrease of 20.47 per cent, from 10,402 in September 2015 to 1,115 in 2016.

“The trend of low supply and sale price increase continued in September,” said Charlotte Forget, President of OMDREB.

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 10.67 per cent in September 2016 to $524,202,372 from $473,682,342 in September 2015.

Oakville’s median residential sale price for the month of September was $980,000, an increase of 36.11 per cent from $720,000 compared to September 2015. The median sale price in Milton was $637,500, an increase of 22.71 per cent from $553,251 compared to the same time last year.

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