November 2014 Market Report
According to figures released today by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 13.2 per cent in November compared to the same period in 2013. Monthly property sales totaled 513 compared to 591 in November 2013.
The number of new property listings decreased by 3.3 per cent, from 770 in November 2013 to 745 in 2014.
“The local market did see a steep decline in the number of property sales this month,” said Jack McCrudden, President of OMDREB. “Residential sale prices continued to be vibrant however in Oakville and Milton.”
The dollar volume of all property sales processed through the OMDREB MLS® system increased in November 2014 to $277,132,822 from $271,037,524 in November 2013 – an increase of 2.3 per cent.
Oakville’s median residential sale price for the month of November was $678,500, an increase of 14.5 per cent compared to November 2013. The median sale price in Milton was $480,000, an increase of 7.6 per cent compared to the same time last year.
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