The summer months have proven to be busy for realtors in Oakville and Milton, according to numbers recently released by The Oakville, Milton and District Real Estate Board (OMDREB). While the number of sales was down slightly throughout the entire region (by just 2.5 percent) the average sale price increased in both Milton and Oakville.
In July 2014, there were 756 sales recorded through OMDREB’s MLS system, down from 775 during the same month of 2013. If you look specifically at Oakville, there was actually a jump in residential sales, up from 209 to 235, a 12 percent increase. Milton was down from 125 to 116.
The average sale price in Oakville rose from $736,488 in July 2013 to $786,983 in 2014, a jump of 7 percent. In Milton, the average sales price in July 2014 was $496,914, up nearly 10 percent from the same month last year.
The number of new property listings increased by 6 percent, from 1,108 in July 2013 to 1,179 in 2014.
The dollar volume of all property sales increased in July 2014 to $403,405,746 from $361,374,985 in June 2013 – an increase of 11.6 per cent.