Oakville Real Estate Update: August 2013

Oakville Residential Prices Increase as Sales Numbers Decrease

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Oakville Real Estate Update: August 2013
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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 District Real Estate Board (OMDREB), the number of sales went down 2.5 per cent in August compared to the same period in 2012. Monthly sales totaled 631 compared to 647 in
August 2012. The number of year-to-date sales slightly increased by 0.7 per cent.

“Property sales as well as the number of new listings were down compared to this same period last year, ” said Aziz Kanjee, President of OMDREB. “We saw significant increases in regards to residential median sale prices in Oakville as buyers are forced to compete for the property they want.”

The dollar volume of all sales processed through the OMDREB MLS® system increased in August 2013 to $292,846,521 from $299,983,888 in August 2012– down 2.4 per cent. The dollar volume of sales year to date increased by 4 per cent year over year from 2012 to 2013.

Oakville’s median sale price for the month of August was $645,000, an increase of 9.7 per cent compared to August 2012.

Residential Type: Units Sold by Type
Detached: 133
Semi/Link/Townhouse: 33
Condo Apartment/TH: 43

 

Oakville                               August 2013        August 2012          % Change
No. of Residential Sales       209                      193                              8.29%
Average1 Sale Price          $713,599              $732,127                 -2.53%
Median2 Sale Price           $645,000              $588,000                  9.69%

Oakville                                  YTD 2013           YTD 2012                 % Change
No. of Residential Sales    1,946                     1,983                             -1.87%
Average1 Sale Price          $747,857            $701,144                       6.66%
Median2 Sale Price           $632,763              $593,500                      6.62%

1 The average home price is found by adding the value of all sales and dividing by the number of homes.
2 The median sale price is the midpoint of all sales

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