July 2017 Market Report

Oakville, ON, July 5, 2017 – According to figures released August 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 8.47 per cent in July compared to the same period in 2016. Monthly property sales totaled 940 compared to 1,027 in July 2016.

The number of new property listings saw an increase of 26.53 per cent, from 1,225 in July 2016 to 1,550 in 2017.

“We’re seeing yet another month of decreased property sales, which signals a trend,” said Dennis Horton, 2017 President of OMDREB. “Let’s see how the fall market will do.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 14.12 per cent in July 2017 to $837,484,410 from $733,853,384 in July 2016.

Oakville’s median residential sale price for the month of July was $1,210,000 an increase of 37.45 per cent from $902,150 compared to July 2016. The median sale price in Milton was $757,500, an increase of 25.21 per cent from $605,000 compared to the same time last year.

To read the full release, click here.