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.