Oakville Sees and Increase in New Listings in April 2017
Friday, 05 May 2017, 10:30:00 AM
Oakville Sees an Increase in New Listings, but a Decrease in Property Sales
According to the Oakville, Milton and District Real Estate Board (OMDREB), the number of new listings increased by 6.6% from 2,908 in April 2016 to 3,102 in April 2017. Moreover, there were 325 residential sales in April 2017 compared with 421 in April of 2016 for a decrease of 22.8%.
The average sale price in April 2017 was $1,268,168 and that is up 22.17% from $1,038,056 in 2016. In addition to this increase, the Median sale price rose 33.0% in April 2017 because the median sale price was $1,199,900 compared to $902,150 in April 2016.
Dennis Horton, the 2017 President of OMDREB said, "We're seeing an increase in new listings so we're hoping for a solid month".
Residential homes continue to sell quickly in Oakville and the average days on the market in April was 11 days. The Year-to-date average days on market is 16.
There were 80 detached homes sold in April 2017 in Oakville, 43 Semis/Link/Townhouses, 18 Condo/Apartment/TH, and 15 others.