March 2014 Real Estate Update: Prices Rise, Numbers Fall in Oakville

March 2014 Real Estate Update: Prices Rise, Numbers Fall in Oakville
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Dionne Galan

Dionne Galan

Dionne Galan was the Communications Manager at Oakville, Milton and District Real Estate Board from December 2011 to July 2014. She graduated from the Public Relations Program at Ryerson University.

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According to figures released today by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales declined slightly by 0.4 per cent in March compared to the same period in 2013. Monthly property sales totalled 705 compared to 708 in March 2013.

“With the winter season seemingly behind us, the property market showed signs of picking back up in March,” said Jack McCrudden, President of OMDREB. “Residential sale prices in Milton and Oakville increased across the board.”

The dollar volume of all property sales processed through the OMDREB MLS® system increased in March 2014 to $390,811,164 from $379,171,521 in March 2013– an increase of 3.1 per cent.

Oakville’s median sale price for the month of March was $698,750, an increase of 7 per cent compared to March 2013.

Oakville Sales
Residential Type Number of Units
Detached 161
Semi/Link/Townhouse 38
Condo Apt/TH 28
Total 246

 

Oakville March-2014 March-20113 % Change
Number of Residential Sales 246 265 -7.17%
Average Sale Price $842,748  $780,592 7.96%
Median Sale Price  $698,750 $653,000 7.01%
YTD 2014 YTD 2013 % Change
Number of Residential Sales 4.84% 579 4.84%
Average Sale Price  $790,320 $752,292 5.05%
Median Sale Price $676,500 $625,000 8.24%
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