The June 2017 Oakville Real Estate Update doesn't look pretty if you are a seller. According to figures released July 5, 2017 by the Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 30.33 per cent in June compared to the same period in 2016. Monthly property sales totalled 703 compared to 1,009 in June 2016.
The number of new property listings saw an increase of 18.83 per cent, from 1,227 in June 2016 to 1,458 in 2017.
“As we continue to see a shift in the market, we’re interested in how the year will unfold,” said Dennis Horton, 2017 President of OMDREB.
The dollar volume of all property sales processed through the OMDREB MLS® system saw a decrease of 36.08 per cent in June 2017 to $475,418,629 from $743,797,556 in June 2016.
Oakville’s median residential sale price for the month of June was $992,500 an increase of 28.48 per cent from $901,777 compared to June 2016.
June 2017 Oakville Real Estate Update Statistics
- Total units sold was 196
- Average price of $1,130,000
- Detached housing units sold was 121
- 71 percent of detached homes sold for over $1,000,000.00
- 80 percent of semi-detached/freehold townhouses sold between $600,000 to over $1,000,000
- 57 percent of condo apartments/townhouses sold between $300,000 to $600,000