August 2020 Market Report
Oakville, ON, September 15, 2020 – According to figures released September 15 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased in August compared to the same period in 2019. Monthly property sales went up by 123, totalling 420 compared to 297 in August 2019.
The total number of new property listings saw the same this year: 547 new listings in August 2020 compared to 408 in 2019.
"Sales are up on a year-over-year basis for all major home types across Oakville, Milton, and Halton Hills, which is a fantastic sign of a return to more normal economic conditions given the current situation that we have all been living through," says OMDREB President Richard Weima.
"Detached and semi-detached houses and townhouses were the main drivers of sales growth, and the amount of new listings hitting the market continues to rise. As a result, we see that the demand for home ownership is still strong, and that means we must continue to focus on the issue of housing affordability in Halton," continues Weima.
In Oakville, the average sale price for a home in August 2020 was $1,345,439, up 23.1 percent from $1,092,942 in 2019.
In Milton, the average sale price for a home in August 2020 was $895,788, up 12 percent from $799,320 in 2019.
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