February 2017 Market Report

Oakville, ON, March 1, 2017 – According to figures released March 1 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased by 1.26 per cent in February compared to the same period in 2016. Monthly property sales totaled 642 compared to 634 in February 2016.

The number of new property listings saw a decrease of 3.02 per cent, from 860 in February 2016 to 834 in 2017.

“Listings saw a decrease, but we’re glad to see an increase in sales,” said Dennis Horton, 2017 President of OMDREB.

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 31.46 per cent in February 2017 to $554,654,709 from $421,919,680 in February 2016.

Oakville’s median residential sale price for the month of February was $1,250,000, an increase of 41.92 per cent from $850,500 compared to February 2016. The median sale price in Milton was $790,000, an increase of 45.92 per cent from $549,950 compared to the same time last year.

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