Resale housing sales continue strong in the Oakville Milton area, according to statistics released today by The Oakville Milton and District Real Estate Board.
Sales of existing homes in September 2011 totalled 765 -- a 12.7 percent increase over September 2010 sales of 679. The increase was most significant in Milton where the number of residential sales totalled 181 compared to 130 in September 2010 – a jump of 39 percent in a community recognized as one of the fastest growing in Canada.
The dollar volume of sales processed through the OMDREB MLS® system increased by 16.5 percent in September 2011 to $312,998,734.
Once again, the Board reported a climb in new listings, as sellers responded to higher prices in both Milton and Oakville.
“The 7.5 percent increase in new listings is area sellers’ response to the positive price gains over the past several months,” commented OMDREB President Jack McCrudden. “Despite the current global economic uncertainty, real estate remains a great investment and buyers are responding.”
The average price in Milton rose 16 percent to $437,293 last month, compared to $376,003 a year earlier. In Oakville, the average price totalled $582,316 up 5 percent over September 2010’s price.