Oakville Real Estate Update August 2014

Property Sales Cool in August

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Oakville Real Estate Update August 2014
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Von Jeppesen

Von Jeppesen

Von Jeppesen is the Communications Specialist at The Oakville, Milton and District Real Estate Board (OMDREB). He is a graduate of Sheridan College's Journalism - Print and Corporate Communications programs.

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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 decreased by 7.7per cent in August compared to the same period in 2013. Monthly property sales totalled 637 compared to 690 in August 2013.

The number of new property listings also decreased by 0.4 per cent, from 961 in August 2013 to 957 in 2014.

“Despite fewer property sales and new listings brought to market, Oakville continued to see strong residential sale prices,” said Jack McCrudden, President of OMDREB. “Overall, the Halton real estate market is on pace for a strong finish this year in property sales, new listings, and residential sale price.”

The dollar volume of all property sales processed through the OMDREB MLS® system decreased in August 2014 to $299,325,753 from $320,801,577 in August 2013 – a decrease of 6.7 per cent.

Oakville’s median sale price for the month of August was $682,500, an increase of 8.5 per cent compared to August 2013.

Oakville Sales
Residential Type Number of Units
Detached 120
Semi/Link/Townhouse 41
Condo Apt/TH 26
Total 187

 

Oakville August-2014 August-20113 % Change
Number of Residential Sales 187 222 -15.77%
Average Sale Price $776,559  $713,030 8.91%
Median Sale Price $682,500 $629,000 8.51%
YTD 2014 YTD 2013 % Change
Number of Residential Sales 2,114 1962 7.75%
Average Sale Price $805,443  $747,209 7.79%
Median Sale Price $689,000 $632,250 8.98%
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