Here are the OCTOBER 2012 residential real estate results for OAKVILLE, MILTON & BURLINGTON Ontario.
The Oakville, Milton & District Real Estate Board(OMDREB) reported 755 SALESin October 2012, representing a decline of 7.93% from the 820 reported in October 2011. The Realtors Association of Hamilton Burlington(RAHB) reported 1,108 SALES– virtually identical to the same month last year.
The October CUMULATIVE YEAR-TO-DATE (YTD) 2012 number of sales on OMDREBwas 9,229 up 4.76% from the 8,810 sales reported OctYTD 2011. RAHBon the other hand reported 11,522residential and condominium sales as of OctYTD, down 5.5% from the 12,193 sales reported as of OctYTD 2011
NEW LISTINGSwere up in October over the same period on OMDREB, with 1,553new listings hitting the board – up 18.9% when compared to last year. However, the RAHB reported 1,631 NEW LISTINGSin October, down 1.7% when compared to the 1,660 last October
The October CUMULATIVE YEAR-TO-DATE (YTD)2012 NEW LISTINGSon OMDREB was 16,161 up 12.4%from last year, while RAHB reported 17,005residential and condominium NEW LISTINGS, down 12.96% from the same time from last year.
Information for residential sales in Oakville, Milton and Burlingtonwas taken from both of the real estate boards above, and each town/city’s results VARIED tremendously. Let’s see how each area did.
Oakville displayed FABULOUSresults in October. Although a total of 233 residential SALES took place in October which is down 10.0% from the number of sales last year, there were more sales in October than there were in September. The AVERAGEsale price was $748,091 which is an increase of 18.0% from last October and the HIGHEST seen since 2008, while the MEDIAN sale price was $590,000 – up 3.9% from last year and the 3rd HIGHEST since 2008.
It took 34 days on average for a house to sell in the month of October in Oakville
OCTOBERYTD numbers for Oakville are as follows: Sales were 2,973,up 0.54% from the 2,957 last year, the AVERAGEYTD sale price was $677,704 (up 11.04%) while the MEDIANYTD sale price was $575,000 (up 10.58%).
There were a total of 116 residential SALESin Milton in October which is decline of 26.1 percent when compared to last October. The AVERAGE sale price was $434,332which is an increase of 2.5% from last October, while the MEDIAN sale price was $402,500, down 2.8% from last year.
It took 23 dayson average for a house to sell in the month of October in Milton.
OCTOBERYTDnumbers for Milton are as follows: Saleswere 1,846 up 1.99% from the 1,810 last year, the AVERAGEYTD sale price was $445,582 (up 7.41%) while the MEDIANYTD sale price was $422,000 (up 6.79%).
Burlington also posted terrific results in October. The number of sales in Burlington was virtually identical to last year with 243 SALEStaking place (just down 0.4%), while the AVERAGE & MEDIANprices were amongst the highest seen since 2008. The actually results for the month are as follows: the AVERAGE sale pricewas $462,862 up 14.7% from October 2011, and the MEDIANsale price was up 15.3% to $427,637.
It took 36 days on average for a home to sell in October.
OCTOBER YTD numbers for Burlington are as follows: Saleswere 2,789, down 4.4% from the 2,918 last year, the AVERAGEYTD sale price is $454,617 (up 10%) while the MEDIANYTD sale price is $418,953 (up 11.05%).
It is critical that both buyers and sellers keep informed of the current local real estate market conditions. Therefore if you are exploring the idea of buying or selling a home in Oakville, Milton or Burlington, ON, or if you would like to receive MLS listings, contact Rod Murdy today. I am always here to help.
Rod Murdy | Sales Representative
CENTURY 21 Miller Real Estate Ltd.
Brokerage, Independently Owned and Operated
467 Speers Rd
Oakville, ON L6K 3S4
Mobile: 905.334.0336 Email: firstname.lastname@example.org
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