According to the Oakville, Milton and District Real Estate Board, winter has hit the local housing market, and sales have literally ‘cooled off’ in the area. As buyers prepare themselves for the holiday season, housing sales are seeing a decline.
Figures released by the real estate board, show that resale housing sales experienced a decline of 5.9% in November 2011 compared to the same period in 2010. In addition, monthly sales totaled 642 compared to 682 in November 2010. Despite the decline in November, year-to-date sales remain strong and are up 8.8% reflecting the strength of the market over the past few months. President of the Oakville, Milton and District Real Estate Board Jack McCrudden stated “While we are experiencing the traditional drop in sales that occurs during the winter months, we remain on track for a strong finish in 2011.”
The total dollar value of sales processed through the board’s MLS® system increased in November 2011 to $274,261,999, a 1.5% increase from November of 2010. In addition, the year-to-date dollar volume of sales is up by 15.4% year over year.
Source: The Oakville, Milton and District Real Estate Board: http://www.omdreb.on.ca/press/November%202011%20-%20OMDREB%20Market%20Report.pdf
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