May Market Updates

The average price of an Oakville resale home sold through the Oakville-Milton MLS® system in May was $1,270,295, up by 20.79% versus the $1,051,630 average price of May 2016.  The average year-to-date price of a resale Oakville home is $1,314,733 up 28.39% from the average sale price in 2016 of the same time period of $1,023,993. Oakville’s median residential sale price for the month of May was $1,045,000 an increase of 28.39% from $926,500 compared to May 2016.

The Oakville resale market recorded 243 sales in May, down by 43.62% versus the 431 units sold in May 2016.  Year-to-date unit sales are down slightly by 12.87% compared to the same period last year (1340 units versus 1538 units).  

We have seen an increase in properties for sale in some segments of the market which could be due to the time of year and to buyers and sellers perception that the market may be shifting.