September 2018 Market Report
Oakville, ON, October 1, 2018 – According to figures released October 1st by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales rose in September compared to the same period in 2017. Monthly property sales totalled 581 compared to 562 in September 2017.
The number of new property listings is lower than it was in September 2017, 1,304 new listings in September 2017 compared to 1,214 in 2018.
"The recent signing by Canada of the new free trade agreement, the USMCA, will boost the real estate market in the GTA and across the country by improving consumer confidence in the Economy", claims OMDREB President Rick Kedzior. "I strongly believe that Buyers were sitting on the sidelines in anticipation. Our stats in September show moderate increases compared to 2017. This is the 4th consecutive month that we have experienced increased activity over 2017. The concern now is inventory levels, and sellers should give serious consideration in listing homes before year end. Our primary trading areas of Oakville and Milton continue to provide a safe destination for families with excellent schools, public transit and fantastic health care",states President Kedzior.
The dollar volume of all property sales processed through the OMDREB MLS® system saw an increase of 5.90 percent in September 2018 to $388,860,919 from $367,191,953 in September 2017.
Oakville’s median residential sale price for the month of September was $922,500, a decrease of 12.64 percent compared to September 2017 at $1,056,000. The median sale price in Milton was $660,000, a slight increase of 0.76 percent from $655,000 compared to the same time in 2017.
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