July 2016 Market Report

Oakville, ON, September 2, 2016 – According to figures released August 3 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 17.74 per cent in July compared to the same period in 2015. Monthly property sales totaled 779 compared to 947 in July 2015.

The number of new property listings saw a decrease of 20.77 per cent, from 1,247 in July 2015 to 988 in 2016.

“Property sales continue to decrease, but there is continual increase in sale price,” said Charlotte Forget, President of OMDREB.

The dollar volume of all property sales processed through the OMDREB MLS system saw a slight decrease of 0.80 per cent in July 2016 to $520,274,994 from $324,493,383 in July 2015.

Oakville’s median residential sale price for the month of July was $916,000, an increase of 28.25 per cent from $714,250 compared to June 2015. The median sale price in Milton was $682,931, an increase of 25.42 per cent from $544,522 compared to the same time last year.

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