January 2017 Market Report

Oakville, ON, February 2, 2017 – According to figures released February 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased by 3.36 per cent in January compared to the same period in 2016. Monthly property sales totaled 431 compared to 417 in January 2016.

The number of new property listings saw a decrease of 5.14 per cent, from 370 in January 2016 to 351 in 2016.

“We saw a positive start to the New Year, in terms of monthly property sales,” said Dennis Horton, 2017 President of OMDREB. “We’re excited to see how the real estate market will do in 2017.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 12.89 per cent in January 2017 to $260,196,853 from $230,486,636 in January 2016.

Oakville’s median residential sale price for the month of January was $988,500, an increase of 28.54 per cent from $769,000 compared to January 2016. The median sale price in Milton was $665,100, an increase of 20.94 per cent from $549,950 compared to the same time last year.

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