The November real estate market in Oakville-Milton

Looks like winter is here. Traditionally, the season to be jolly means a cooling of the resale housing market, as buyers busy themselves preparing for the holiday season.

 

According to figures released today by The Oakville, Milton and District Real Estate Board area resale housing sales experienced a decline of 5.9 percent in November 2011 compared to the same period in 2010. Monthly sales totalled 642, compared to 682 in November 2010. At the same time, year-to-date sales were up by 8.8 percent, reflecting the market’s strong showing over the past several months.

 

“While we are experiencing the traditional drop in sales that occurs during the winter months, we remain on track for a strong finish in 2011,” says Jack McCrudden, 2011 President of The Oakville, Milton and District Real Estate Board. “As long as interest rates remain at their current historic lows, demand for housing in the Oakville/Milton market will remain strong.”

 

The dollar value of all sales processed through the OMDREB MLS® system increased in November 2011 to $274,261,999 from $270,110,079 – up 1.5 percent. Year to date, the dollar volume of sales is ahead by 15.4 percent year over year.

 

The average sale price in Oakville declined slightly by 0.1 percent in November 2011 to $588,557 from $589,354 in November 2010, while Milton’s average price increased 11 percent to $418,281. Year to date, the average prices are up 8.5 percent in Oakville and 6.5 percent in Milton.

 

Your local REALTORS® live, give and play in the neighbourhood too!

 

Established in 1954, The Oakville, Milton and District Real Estate Board (OMDREB) serves Oakville, Milton and surrounding communities with more than 1,400 REALTOR®. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its Members. OMDREB REALTORS® care about creating a better community and participate in the 'Every REALTOR® Cares' program which supports shelter-based initiatives. 

 

Your OMDREB REALTOR® can provide you with the date and services you need to make informed real estate decisions. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. For more information visit www.omdreb.on.ca or call OMDREB at 905.844.6491.


The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with the The Oakville, Milton and District Real Estate Board . The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor the The Oakville, Milton and District Real Estate Board assumes any responsibility or liability. Copyright© The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.