April 2021 Market Report
May 7, 2021
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Oakville, ON, May 7, 2021 – According to figures released May 7 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased drastically in April compared to the same period in 2020. Monthly property sales went up by 652, totalling 862 compared to 210 in April 2020.
The total number of new property listings also saw a large increase of 799 this year: 1,202 new listings in April 2021 compared to 403 in 2020.
“The number of listings and home sales in Oakville, Milton, and Halton Hills continued to rise once again throughout the month of April, beating out March’s previous records. As expected, averages prices also followed the same trend,” says OMDREB President Lynn Hoffmann.
“Compared to last year, we’re continuing to see explosive growth in most areas but we must be mindful of the impact the COVID-19 pandemic had on the market around this time in 2020. Many statistics being pushed out are going to seem almost absurd, with a prime example being home sales increasing in our jurisdiction by over 320% in April 2021 compared to April 2020. Seeing numbers like this may continue for a while, but we’ll have a correction to this kind of inflation eventually.”
“The one thing that is still apparent – and not inflated – is the lack of inventory, which has yet again fallen since this time last year. It is incredibly clear that inventory must be addressed, and we need our Government’s help in doing that. OMDREB will continue to advocate for an increase in supply moving forward,” explains Hoffmann.
For homes processed through the OMDREB MLS system, the number of days on market until sale dropped nearly 58 percent in April 2021, sitting at just 15 days compared to 38 in April 2020. For townhomes and condos, days on market also dropped nearly 24 percent at 16 this year compared to 21 in April 2020.
In Oakville, the average sale price for a home in April 2021 was $1,994,612 , up 36.1 percent from $1,465,966 in 2020. The average sale price for a townhouse/condo was $994,391, up 37.2 percent from $724,680 in 2020.
In Milton, the average sale price for a home in April 2021 was $1,469,817, up 63.9 percent from $896,556 in 2020. The average sale price for a townhouse/condo was $789,930, up 25.7 percent from $628,457 in 2020.
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