August 2017 Market Report

Oakville, ON, September 1, 2017 – According to figures released September 1 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 19.56 per cent in August compared to the same period in 2016. Monthly property sales totaled 584 compared to 726 in August 2016.

The number of new property listings saw an increase of 9.62 per cent, from 894 in August 2016 to 980 in 2017.

“Overall, we’re seeing the market start to regulate itself,” said Dennis Horton, 2017 President of OMDREB. “In the month of August, we typically see a decreased amount of sales – and we did.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an decrease of 26.72 per cent in August 2017 to $351,225,089 from $733,853,384 in August 2016.

Oakville’s median residential sale price for the month of August was $1,125,000 an increase of 25.01 per cent from $899,950 compared to August 2016. The median sale price in Milton was $647,250, a decrease of 3.40 per cent from $670,000 compared to the same time last year.

To read the full release, click here.