The Oakville, Milton and District Real Estate Board showed significant increases for Oakville home sales in July 2011 compared to the same month last year. Sales totalled 802 units compared to 694 in July 2010. Sales in Oakville and Milton increased 15.6% over last month, making July the third month in a row where home sales in 2011 outstripped 2010 figures.
In Oakville, home prices increased 19% over the same month in 2010 with an average price in July of $602,342. (Average price in July 2010 was $504,097.) Median sale price of Oakville homes was $499,000, a 12% increase over the median sale price in July 2010.
The number of year to date sales was also up in Oakville – with 2,182 sales in 2011 versus 2,085 during the same period in 2010. These numbers from January through July show an increase of 4.5%. The real estate market in Oakville has been strong since the total number of sales has increased, and the sale prices have too. The year to date average sale price of Oakville homes is up 8%.
With interest rates expected to stay low and more inventory coming on the market, fall sales are expected to continue strong in Oakville. If you are looking to buy a home in Oakville, the first call you should make is to a knowledgeable mortgage broker who can help you determine how much you can afford to spend on a home. A mortgage agent can get you a pre-approved mortgage at low rates before you start to shop.
If you are sick of paying bank rates or the banks turned you down -call the medics! Mortgage Medics can help you purchase a home in Oakville – even if you are self employed or have bad credit. Call them at: (905) 847-6611.