This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information

Image Map

Insightful Real Estate News
The Key to your real estate wants and needs!
May has Increase in Inventory and Decrease in Property Sales
Wednesday, 07 June 2017, 11:45:00 AM

May has an Increase in Homes for Sale and Decrease in Property Sales


According to the Oakville, Milton and District Real Estate Board (OMDREB), the number of all properties sold in the month of May 2017 decrease by 19.1% compared to May 2016.  There were 840 property sales in May of this year compared to 1,038 in 2016. 

Also, there was an increase in the number of homes for sale from 1,266 in May 2016 to 1,776 in May of this year and this represents an increase in 40.3%. 

"There is an abundance of local inventory, however, the decrease in property sales could indicate a potential shift in the real estate market," said Dennis Horton, the current President of OMDREB. 

OMDREB also stated that the dollar volume of all property sales processed the real estate board's system saw a decrease of 11.8% in May 2017 to $664,158,892 from $753,263,002 in May 2016.  This is a pretty significant decrease in sales. 

Oakville's median residential sale price for the month of May was $1,045,000 an increase of 28.4% from $926,500 in May of 2016.  Furthermore, the median sale price in Milton was $745,000 in May 2017 compared to $627,515 in May 2016 for an increase of 18.1%. 

In Oakville, there were 143 Detached homes sold in May 2017, 35 Semi/Link/Townhouses sold, 56 Condo Apt/TH and 9 Other sales. 

In Milton, there were 68 Detached home sales in May 2017, 22 Semi/Link/Townhouses sales, 56 Condo Apt/TH sales and 13 Other sales.    

The Average Days on Market was 18 days in May 2017 in Oakville compared to 11 days in April 2017.  So homes are taking slightly longer to sell as the year goes on. 

 Oakville Sales in May 2017

Posted By: Bill Keay



Categories:Housing Market Update  
no comments so far
adminlistingsprivacy policycontactsite map
RE/MAX Aboutowne Realty Corp., Brokerage, independently owned & operated
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
This website is operated by a brokerage or sales person who is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
Canadian Real Estate Association Last Updated: 6/20/2019 11:13:40 AM

Copyright © 2002-2019. All rights reserved.
Real Estate Marketing by Lone Wolf Technologies.
Lone Wolf Technologies