January 2019 Market Report

Oakville, ON, February 1, 2019 – According to figures released February 1st by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales fell just slightly in January compared to the same period in 2018. Monthly property sales totaled 402 compared to 412 in January 2018.

The total number of new property listings is higher than it was last year. 870 new listings inJanuary 2019 compared to just 812 in 2018.

“These numbers are a far cry from 2017, whereas now they largely reflect a general move to a more balanced market as there are less unit sales and more properties available for sale. Bottom line? Buyers have more choice. However, depending on location, price, or type of home, there are still properties that are in high demand and receiving multiple offers,” says OMDREB President Oliver Matas.

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of $30,000,000 compared to last year. The figures in January 2019 sat at$250,497,100 as opposed to $219,600,029 in January 2018.

Milton’s average sale price for the month of January was $788,346, a substantial increase of23.51 percent compared to January 2018 at $638,297. The average sale price in Oakville was $1,115,569 an increase of 4.68 percent from $1,065,727 compared to the same time in 2018.

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