Oakville Real Estate Strong in September 2011

Posted by on October 18, 2011

We all know that Oakville is a great place to live and the real estate statistics for September 2011 show that home buyers believe it as well.  The year has been good for home sales with September real estate showing strong results.

In September, the Oakville Milton and District Real Estate Board reported an increase both in sales and prices of resale homes.  In Oakville, a total of 228 homes sold.  This is a 3.5% change over September 2010.  For the Oakville-Milton district, a total of 765 homes sold – a 12.7% increase over last September.   The average sale price of a home in Oakville was $582,316 in September, up 5% over last September.

Year to date sales show a total of 2,668 homes sold, up 5.5% from 2010.  The prices year to date have also risen, due to low interest rates and strong demand.  The average YTD sale price of a home in Oakville was $608,301 – up from $561,197 a year ago.  The average home price is the total of all home sold divided by the number of homes.  The average home price showed an increase of 8.5% over 2010.  The median home price, or midpoint of all sales, was $518,250.  This is an 8% increase over the 2010 year-to-date median price of $480,000.

Detached homes are still the most popular in Oakville with 133 sold.  Next is semis/townhomes with 53 sold, followed by apartments/condos with a total of 41 sold in October.

For the combined Oakville Milton area, existing home sales totaled 765.  That is a 12.7% increase over the 679 sales on September 2010.  Listing of new properties also increased in September, with 7.5%.   Year to date, listings have increased by 8%, giving consumers more choice in home buying. Milton is recognized as one of the fastest growing cities in Canada. 

Low mortgage rates are fueling the robust but stable housing marketing in this area.  If you are looking for a Milton mortgage to live in one of the fastest growing cities, you will be interested to know that  sales in September totaled 181 – a 39% increase over 2010.  Now is also a great time to get an Oakville mortgage, with rates near record lows and a strong market expected to continue through year’s end.

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