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APRIL SEES INCREASE IN NEW LISTINGS, DECREASE IN PROPERTY SALES

Oakville, ON, May 2, 2017 – According to figures released May 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales decreased by 8.47 per cent in April compared to the same period in 2016.

Monthly property sales totaled 940 compared to 1,027 in April 2016. The number of new property listings saw an increase of 6.6 per cent, from 2,908 in April 2016 to 3,102 in 2017.

“We’re seeing an increase in new listings, so we’re hoping for a solid month,” said Dennis Horton, 2017 President of OMDREB. The dollar volume of all property sales processed through the OMDREB MLS® system saw an increase of 14.12 per cent in April 2017 to $837,484,410 from $733,853,384 in April 2016.

Oakville’s median residential sale price for the month of April was $1,199,900, an increase of 33 per cent from $902,150 compared to April 2016. The median sale price in Milton was $757,500, an increase of 25.21 per cent from $605,000 compared to the same time last year.

OMDREB April 2017 Sales Results

RESIDENTIAL ONLY SALES ACCORDING TO DISTRICT

Milton Residential Type Units Sold by Type
Detached 80
Semi/Link/Townhouse 43
Condo Apartment/TH 18
OTHER 15
2017 Compared to 2016
Milton Apr-17 Apr-16 % Change
No. of Residential Sales 155 144 7.64%
Average Sale Price $803,297 $670,996 19.72%
Median Sale Price $760,000 $605,000 25.62%
Milton YTD 2017 YTD 2016 % Change
No. of Residential Sales 444 426 4.23%

Average (1) Sale Price $804,770 $619,595 29.89%
Median (2) Sale Price $769,500 $567,000 35.71%
1. The average home price is found by adding the value of all sales and dividing by the number of homes.
2. The median sale price is the midpoint of all sales.

The information provided herein is deemed accurate but not guaranteed.
Source: The Oakville, Milton and District Real Estate Board

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About The Oakville, Milton and District Real Estate Board (OMDREB) The Oakville, Milton and District Real Estate Board represents over 1,800 REALTORS® who serve the communities of Oakville, Milton, Halton Hills and the surrounding areas. OMDREB serves its members through a variety of support and services, including professional development, technology and advocacy.

Established in 1954, the Board also champions shelter-based charitable endeavours that are important to the local communities in which its members work and serve. For more information about OMDREB, please visit www.omdreb.on.ca.

Media Contacts Dennis Horton, President, OMDREB Stephanie Lai, Communications Officer, OMDREB, 905-844-6491 ext. 1010

*The total sales are comprised of all sales by OMDREB Members, regardless of jurisdiction.

**Total dollar volume of sales reflects “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.