Property resale market blossoms heading into summer

Oakville Real Estate Update for May 2014

street signs 1.Housing Ave 2. Market St
Property resale market blossoms heading into summer
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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 increased by 0.8 per cent in May compared to the same period in 2013. Monthly property sales totalled 944 compared to 937 in May 2013.

“The residential resale market remains especially competitive in Milton and Oakville as both areas experienced substantial increases in the median sale price compared to last May,” said Jack McCrudden, President of OMDREB. “Our statistics rose across the board and we expect this trend to continue into June.”

The dollar volume of all property sales processed through the OMDREB MLS® increased in May 2014 to $542,633,257 from $522,747,780 in May 2013 – an increase of 3.8 per cent.

Oakville’s median sale price for the month of May was $708,000, an increase of 11.7 per cent compared to May 2013.

Oakville Sales
Residential Type Number of Units
Detached 241
Semi/Link/Townhouse 56
Condo Apt/TH 49
Total 346

 

Oakville May-2014 May-2013 % Change
Number of Residential Sales 346 346 0%
Average Sale Price  $838,834  $780,806 7.43%
Median Sale Price $708,000 $634,000 11.67%
YTD 2014 YTD 2013 % Change
Number of Residential Sales 1322 1229 7.57%
Average Sale Price $813,708  $757,615 7.40%
Median Sale Price $697,250 $630,000 10.67%
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