Oakville Real Estate Update: October 2014

Property Sales Spooked in October

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Oakville Real Estate Update: October 2014
Kerr Street Cafe
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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 2.3 per cent in October compared to the same period in 2013. Monthly property sales totaled 687 compared to 703 in October 2013.

The number of new property listings increased by 8.3 per cent, from 1,078 in October 2013 to 1,167 in 2014.

“Our members saw a lot of new properties brought to market in October,” said Jack McCrudden,President of OMDREB. “Oakville’s residential properties continued to see high sale prices while Milton experienced a slight drop.”

The dollar volume of all property sales processed through the OMDREB MLS®system increased in October 2014 to $397,253,722 from $347,440,871 in October 2013 – an increase of 14.3 per cent.

Oakville’s median residential sale price for the month of October was $720,000, an increase of 13.1 per cent compared to October 2013. The median sale price in Milton was $462,850, an increase of 1.5 per cent compared to the same time last year.

Oakville Sales
Residential Type Number of Units
Detached 148
Semi/Link/Townhouse 40
Condo Apt/TH 33
Other 2
Total 223

 

Oakville October-2014 October-2013 % Change
Number of Residential Sales 223 228 -2.19%
Average Sale Price $860,813 $723,814 18.93%
Median Sale Price $720,000 $636,750 13.07%
YTD 2014 YTD 2013 % Change
Number of Residential Sales 2,586 2,437 6.11%
Average Sale Price $809,232  $737,930 9.66%
Median Sale Price $686,850 $630,000 9.02%
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