July 2018 Market Report

According to figures released August 1st by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales rose in July compared to the same period in 2017. Monthly property sales totaled 668 compared to 593 in July 2017.

The number of new property listings is also higher than it was in July 2017, 1,048 new listings in July 2017 compared to 1,109 in 2018.

“The latest stats look very encouraging across all categories,” comments OMDREB Board President Rick Kedzior. “As we start to see 2017 in our rear view mirror the stats are setting up for a robust Fall market. With inventories on the low side, potential Seller’s should be giving September serious consideration as the month to list their home,” adds Kedzior.

Congratulations go out to Mayor Rob Burton, council and staff of the Town of Oakville after being named the number one place to live in Canada, 2018 by Money Sense. Milton ranked number 6 and Halton Hills number 10. All three towns are a safe place to raise a family, states Kedzior.

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 15.95 percent in July 2018 to $416,876,549 from $359,546,312 in July 2017.

Oakville’s median residential sale price for the month of July was $945,000, an increase of 5.29 percent compared to July 2017 at $897,500. The median sale price in Milton was $653,000, a decrease of 3.97 percent from $680,000 compared to the same time in 2017.

View the full report here.