Straight from OMDREB – Oakville, ON, December 1, 2017 – November real estate market slows, Median prices vary
According to figures released December 1 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 4.93 per cent in November compared to the same period in 2016. Monthly property sales totaled 598 compared to 629 in November 2016.
The number of new property listings saw an increase of 26.74 per cent, from 804 in November 2016 to 1,019 in 2017.
“We are seeing a trend at this point,” said Dennis Horton, 2017 President of OMDREB. “The number of sales has seen a decrease, and this could be a result of the impending mortgage changes. We look forward to seeing what the market brings in December leading into the new year.”
The dollar volume of all property sales processed through the OMDREB MLS® system saw a decrease of 10.20 per cent in November 2017 to $423,707,913 from $471,856,127 in November 2016.
Oakville’s median residential sale price for the month of November was $915,000, a decrease of 13.27 per cent from $1,055,000 compared to November 2016. The median sale price in Milton was $665,000, an increase of 2.31 per cent from $650,000 compared to the same time last year.
About The Oakville, Milton and District Real Estate Board (OMDREB)
The Oakville, Milton and District Real Estate Board represents over 1,800 REALTORS® who serve the communities of Oakville, Milton, Halton Hills and the surrounding areas. OMDREB serves its members through a variety of support and services, including professional development, technology and advocacy.
Established in 1954, the Board also champions shelter-based charitable endeavours that are important to the local communities in which its members work and serve. For more information about OMDREB, please visit www.omdreb.on.ca.
For further information, or to learn how this information affects your equity and property value, give us a call today and let us advise you of your homes current value and Oakville’s current Real Estate Market in December.
Wayne and Virginia Munden
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