Oakville Property Sales Show Steep Decline

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Current as of October 4, 2021. All data from ITSO. Based in whole or in part on MLS® System data owned by Oakville, Milton and District Real Estate Board. Report © 2021 ShowingTime.

Oakville: According to figures released by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales reported by OMDREB REALTORS® decreased in September compared to the same period in 2020.

Monthly property sales were down by 226, totalling 604 compared to 830 in September 2020.

The total number of new property listings also saw a decrease of 361 this year: 787 new listings in September 2021 compared to 1,148 in 2020.

For homes processed through the OMDREB MLS® system, the number of days on market until sale dropped 47.4 percent in September 2021, sitting at just 10 days compared to 19 in September 2020.

For townhomes and condos, days on market dropped 45 percent at 11 this year compared to 20 in September 2020.

“As we begin to enter the Fall Market, demand for all types of housing in the Halton Region remains strong. With a recordsetting fall last year, one would expect a bit of a normalization by now but that has not been the case. Housing supply across the GTA continues to be an issue, and while we hope that policy makers start to address the problem, it needs to keep being a priority on all fronts going forward,” says OMDREB President Lynn Hoffmann.

“The amount of properties listed for sale in Oakville, Milton and Halton Hills has dropped by one quarter, which ultimately means that first time buyers or those who require affordable housing continue to be pushed out of the market. This is painful to see. OMDREB has been actively advocating on their behalf because something must be done,” continues Hoffmann.

In Oakville, the average sale price for a home in September 2021 was $ $1,969,638, up 5.3 percent from $1,870,827 in 2020.

The average sale price for a townhouse/condo was $975,154, up 15.8 percent from $841,955 in 2020. price for a home in September 2021 was $1,259,457, up 16.3 percent from $1,082,959 in 2020.

The average sale price for a townhouse/condo was $849,262, up 21.6 percent from $698,563 in 2020. The Oakville, Milton and District Real Estate Board represents 2,000 REALTORS® who serve the communities of Oakville, Milton, Halton Hills and the surrounding areas. OMDREB serves its members through a variety of support and services, including professional development, technology and advocacy.

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