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According to figures released April 4, 2017 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased by 17.35 per cent in March compared to the same period in 2016. Monthly property sales totalled 974 compared to 830 in March 2016.
The number of new property listings saw an increase of 0.91 per cent, from 1,193 in March 2016 to 1,346 in 2017.
“The OMDREB stats indicate that the spring market is here. We continue to hope for a stable market,” said Dennis Horton, 2017 President of OMDREB.
The dollar volume of all property sales processed through the OMDREB MLS® system saw an increase of 59.14 per cent in March 2017 to $892,728,359 from $560,981,236 in March 2016.
Oakville’s median residential sale price for the month of March was $1,298,888, an increase of 47.77 per cent from $879,000 compared to March 2016. The median sale price in Milton was $817,500, an increase of 48.64 per cent from $550,000 compared to the same time last year.