Property sales & residential house prices are up in Oakville

Property sales & residential house prices are up 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 property sales declined 9.3 per cent in February compared to the same period in 2013. Monthly property sales totalled 498 compared to 549 in February 2013.

“We’re continuing to experience a trend of low supply, high demand,” said Jack McCrudden, President of OMDREB. “Overall property sales declined in February, however, Oakville’s median residential sale price increased substantially while Milton saw a slight gain.”

The dollar volume of all property sales processed through the OMDREB MLS® system decreased in February 2014 to $267,056,523 from $271,544,986 in February 2013– a decrease of 1.7 per cent. However, that is due to Milton’s decrease in number exceeded Oakville’s increase.

Oakville’s median sale price for the month of February was $696,600, an increase of 14.4 per cent compared to February 2013.

Oakville Sales
Residential Type Number of Units
Detached 141
Semi/Link/Townhouse 38
Condo Apt/TH 28
Total 207

 

Oakville February-2014 February-20113 % Change
Number of Residential Sales 207 183 45%
Average Sale Price $764,884 $735,727 3.96%
Median Sale Price $696,600 $609,000 14.38%
YTD 2014 YTD 2013 % Change
Number of Residential Sales 346 314 10.19%
Average Sale Price $760,466 $728,408 4.40%
Median Sale Price $670,000 $606,000 10.56%
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