December 2020 Market Report

Oakville, ON, January 6, 2020 – According to figures released January 6 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales nearly doubled in December compared to the same period in 2019. Monthly property sales went up by 146, totalling 297 compared to 151 in December 2019.

The total number of new property listings saw an increase this year: 224 new listings in December 2020 compared to 134 in 2019.

“December is a great representation of how the year unfolded as a whole for real estate. Although there was a sharp decline in demand early in the year when COVID hit, 2020 finished off incredibly strong, which ultimately bodes well leading into next year’s market,” said Lynn Hoffmann, OMDREB President.

“With things already looking busy in January, I am confident that 2021 will remain a record year for real estate in the GTA and play an integral role in keeping our economy alive during uncertain times.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of over 154 percent compared to last year. The figures in December 2020 sat at $338,260,568 as opposed to $133,107,750 in December 2019.

In Oakville, the average sale price for a home in December 2020 was $1,743,611, up 28.3 percent from $1,358,242 in 2019.

In Milton, the average sale price for a home in December 2020 was $1,175,390, up 30 percent from $904,109 in 2019.

Click here for the full report.