October 2016 Market Report

Oakville, ON, November 2, 2016 – According to figures released November 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 2.46 per cent in October compared to the same period in 2015. Monthly property sales totaled 715 compared to 733 in September 2015.

The number of new property listings saw a decrease of 14.42 per cent, from 1,096 in September 2015 to 938 in 2016.

“There was a slight dip in the number of sales in October,” said Charlotte Forget, President of OMDREB. “However, dollar volume continues to see an increase.”

The dollar volume of all property sales processed through the OMDREB MLS system saw an increase of 23.41 per cent in September 2016 to $547,733,627 from $443,840,389 in September 2015.

Oakville’s median residential sale price for the month of October was $995,000, an increase of 33.56 per cent from $745,000 compared to October 2015. The median sale price in Milton was $660,000, an increase of 26.32 per cent from $522,500 compared to the same time last year.

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