September 2017 Market Report

Oakville, ON, October 3, 2017 – According to figures released October 3 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 23.67 per cent in September compared to the same period in 2016. Monthly property sales totaled 574 compared to 752 in September 2016.

The number of new property listings saw an increase of 21.38 per cent, from 1,118 in September 2016 to 1,357 in 2017.

“We saw a trend of low supply this time last year,” said Dennis Horton, 2017 President of OMDREB. “We’re continuing to see more listings hit the market, so it’ll be interesting to see how October unfolds.”

The dollar volume of all property sales processed through the OMDREB MLS system saw a decrease of 29.40 per cent in September 2017 to $374,301,773 from $530,197,172 in September 2016.

Oakville’s median residential sale price for the month of September was $1,070,000 an increase of 9.19 per cent from $979,900 compared to September 2016. The median sale price in Milton was $655,000, a decrease of 0.74 per cent from $659,900 compared to the same time last year.

To read the the full release, click here.