March 2018 Market Report
Oakville, ON, March 2, 2018 – According to figures released April 5th by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales fell in March compared to the same period in 2017. Monthly property sales totaled 741 compared to 985 in March 2017.
The number of new property is virtually on par with March 2017, 1,281 new listings in March 2017 compared to 1,277 in 2018.
The quarter 1 2018 statistics compared to the record breaking first quarter of 2017 are to be expected states OMDREB President Rick Kedzior. When compared to Q-1 2016 most categories have increased claims Kedzior. The real estate market in Oakville and Milton is normalizing and remains stabile. Kedzior further adds that a strong public and private school structure in Halton continues to attract families to the area.
The dollar volume of all property sales processed through the OMDREB MLS® system saw a decrease of -44.82 per cent in March 2018 to $490,419,647 from $888,758,137 in March 2017.
Oakville’s median residential sale price for the month of March was $1,015,000, a decrease of -19.60 per cent compared to March 2017 at $1,262,500. The median sale price in Milton was $650,000, a decrease of -21.69 per cent from $830,000 compared to the same time in 2017.
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.
*The total sales are comprised of all sales by OMDREB Members, regardless of jurisdiction.
**Total dollar volume of sales reflects “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.
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Wayne & Virginia Munden