August 2018 Market Report

According to figures released September 4th by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales rose in August compared to the same period in 2017. Monthly property sales totalled 650 compared to 591 in August 2017.

The number of new property listings is also slightly higher than it was in August 2017, 956 new listings in August 2017 compared to 962 in 2018.

“August 2018 is the third consecutive month of increases on a year over year comparison. It is nice to see the Buyer’s re-appearing into the market”, notes OMDREB President Rick Kedzior.”Housing in the Oakville/Milton markets remain a steady long term investment. Our markets continue to attract Buyers due to our safe communities, excellent schools and proximity to major highways”, states Kedzior. “Our concern now continues to be the lack of housing inventory to meet growing demand.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase in August 2018 to $424,450,341 from $356,319,670 in August 2017.

Oakville’s median residential sale price for the month of August was $944,000, down 12.37 percent from August 2017 at $1,077,250. The median sale price in Milton was $705,000, an increase of 9.30 percent from $645,000 compared to the same time in 2017.

View the full report here.