November 2019 Market Report

Oakville, ON, December 11, 2019 – According to figures released December 6 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased slightly in November compared to the same period in 2018. Monthly property sales went up by 10, totaling 568 compared to 558 in November 2018.

The total number of new property listings saw a drop by 186 this year: only 747 new listings in November 2019 compared to 933 in 2018.

“Because we are seeing a lingering supply issue across the GTA, our average sale prices this month are still increasing,” says 2020 OMDREB President Richard Weima. “Similar to last month, this is a great time for someone to sell their home. Even though we are approaching the holidays, Sellers should have no problem over the coming months getting top dollar for their home.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of over $74 million compared to last year. The figures in November 2019 sat at $392,152,530 as opposed to $317,911,702 in November 2018.

Milton’s average sale price for the month of November was $749,193, an increase of 6.47 percent compared to November 2018 at $703,680. The average sale price in Oakville was $1,082,933, up 2.91% from $1,052,274 compared to the same time in 2018.

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