November Market Updates

According to figures released by The Oakville, Milton and District Real Estate Board the average selling price for a resale home in Oakville in November was $1,137,933 down by 5.78% from the average price of $1,207,764 in November 2016. The average days on market was 33. The average selling price year to date is $1,241,030 compared to last year at $1,074,767, an increase of 15.47%.  
The number of all property sales decreased in November compared to the same period in 2016 and the number of new property listings saw an increase. “We are seeing a trend at this point,” said Dennis Horton, 2017 President of OMDREB. “The number of sales has seen a decrease, and this could be a result of the impending mortgage changes coming in January 2018. We look forward to seeing what the market brings in December leading into the new year.”