Oakville Real Estate Update July 2014: Residential Sales Prices Heat Up

Prices increase 4.9 percent in Oakville from July 2013

According to figures released by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 2.5 per cent in July compared to the same period in 2013. Monthly property sales totalled 756 compared to 775 in July 2013.

The number of new property listings increased 6.4 per cent, from 1,108 in July 2013 to 1,179 in 2014.

“With a lot of inventory in the marketplace over the past two months, buyers have had no shortage of properties to choose from in Halton,” said Jack McCrudden, President of OMDREB. “Sellers received strong value as residential sale prices in Milton and Oakville continued to rise at 12.4 and 4.9 per cent, respectively.”

The dollar volume of all property sales processed through the OMDREB MLS® system increased in July 2014 to $403,405,746 from $361,374,985 in June 2013 – an increase of 11.6 per cent.

Oakville’s median sale price for the month of June was $670,000, an increase of 4.9 per cent compared to June 2013. The median sale price in Milton was $480,000, an increase of 12.4 per cent compared to the same time last year.

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