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Property resale market blossoms heading into summer

401(K) 2013  -  Foter  -  CC BY-SA 2.0
401(K) 2013 - Foter - CC BY-SA 2.0

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%