March Sets New Record For Real Estate Sales
The REALTORS® Association of Hamilton-Burlington reported 1,803 sales were processed through the Multiple Listing Service® System in March. All property sales were 22.2% higher than the same month last year, setting a new record high.
- Overall residential sales were 20.2% higher than the same month last year, with freehold sales 17.4% higher and a whopping 32.8% increase within the condominium market.
- The average price of freehold properties showed an increase of 27.8% while the average sale price in the condominium market increased by 28%
- The average number of days on market decreased from 28 to 20 days in the freehold market and from 27 to 19 days in the condominium market.
“Year to date, residential sales are up by 18.4% and the average sale price by 22.9% over the same period last year and listing inventory is 35% less than a year ago” - George O’Neill, RAHB CEO
According to figures released by The Oakville, Milton and District Real Estate Board, the number of all property sales increased by 17.35% in March compared to the same period in 2016.
- Overall the number of new property listings in Oakville saw an increase by 0.91%
- Dollar volume of all property sales processed showed an increase of 59.14%
- The average price of residential properties showed an increase of 35.94%
“The OMDREB stats indicate that the spring market is here.” - Dennis Horton, President of OMDREB
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