October 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 2.3 per cent in October compared to the same period in 2013. Monthly property sales totaled 687 compared to 703 in October 2013.
The number of new property listings increased by 8.3 per cent, from 1,078 in October 2013 to 1,167 in 2014.
“Our members saw a lot of new properties brought to market in October,” said Jack McCrudden, President of OMDREB. “Oakville’s residential properties continued to see high sale prices while Milton experienced a slight drop.”
The dollar volume of all property sales processed through the OMDREB MLS® system increased in October 2014 to $397,253,722 from $347,440,871 in October 2013 – an increase of 14.3 per cent.
Oakville’s median residential sale price for the month of October was $720,000, an increase of 13.1 per cent compared to October 2013. The median sale price in Milton was $462,850, an increase of 1.5 per cent compared to the same time last year.
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