FEBRUARY MEDIA RELEASE FROM THE OAKVILLE, MILTON & DISTRICTS REAL ESTATE BOARD
The Oakville, Milton and District Real Estate Board (OMDREB)
125 Navy Street, Oakville, ON L6J 2Z5
T. 905.844.6491 F. 905.844.6699
Media Contacts:
Jeff Mahannah, President
Valerie Ramsay-Brown, Communications Manager, 905-844-6491 ext. 113
The February 2010 Real Estate Market was Golden!
(March 2010 - Oakville - Milton, Ontario) For the month of February 2010, The Oakville, Milton
and District Real Estate Board *total sales transactions were 786, an increase of 45 per cent over
February 2009. Sales have shot up sharply in the last two months, confirming an increasingly
strong market. This is verified by looking at February sales from years past, compared to 2008
they are 14 per cent ahead and 47 per cent ahead when compared to those in February 2007.
The total value of sales processed through the Board MLS® System also demonstrates a
consistent increase. The Oakville, Milton and area resale market reported a **total dollar volume
of sales for the February 2010 of 115 per cent higher than 2009 and 127 per cent year to date,
according to Multiple Listing Service® (MLS®) statistics released by The Oakville, Milton and
District Real Estate Board.
"Our market is very healthy and sustained low interest rates have made it a great time for buyers
and sellers. I anticipate an even stronger market for the up-coming Spring," states Oakville, Milton
and District Real Estate Board President Jeff Mahannah. "Even with the government changes to
the mortgages rules of limiting buyers to a mortgage of 35 years and requiring a minimum of five
per cent down payment, I predict that we are going to see records set for real estate sales and
prices this year."
Residential resales in Oakville for February 2010 are up by 85 per cent over February 2009 with
an average price of $586,031 and a median price of $498,000 representing a 32 per cent and 31
per cent increase respectively over the same month last year. The luxury market is very healthy
in Oakville, recording 22 sales over a $1,000,000 in February 2010, compared to 4 in February
2009.
Milton's sales were up by 67 per cent and the average sale price was $381,134, an increase of
23 per cent when compared to February 2009.
Year to date residential sales in Milton show a 72 per cent increase when compared to 2009 and
Oakville demonstrates a very healthy 101 per cent increase.
Also notable are the Days on the Market Activity for both Milton and Oakville. For Milton in
February buyers had to move quickly and make decisions fast as the average time period was 13
days. Oakville also had a very short time period of 25 days, indicating we are in a seller's market.
Consumers should note that the comparisons to 2009 to 2010 will continue to be extreme through
to the beginning of the second quarter due to the low sales activity during that period in 2009.
*The total sales are comprised of all sales by OMDREB Members, regardless of jurisdiction.
**Total dollar volume of sales reflects "all property types" including residential, condominiums,
commercial property, farmland and sale of businesses.
Source: The Oakville, Milton and District Real Estate Board
OMDREB February 2010 Sales Results
RESIDENTIAL ONLY SALES & DOLLAR VOLUME ACCORDING TO DISTRICT *excluding Rentals
February 2010: Month to Date/YTD
Sales $ Volume DOM
Milton 160 $ 61,111,829 13
Oakville 293 $171,525,208 25
Milton Residential Type Units Sold by Type
Detached 73
Semi/Townhouse 75
Apartment/Condo 12
Oakville Residential Type Units Sold by Type
Detached 188
Semi/Townhouse 57
Apartment/Condo 48
2009 Compared to 2010
Milton February 2009 February 2010 % Change
No. of Residential Sales 96 160 67%
Average1 Sale Price $310,848 $381,134 23%
Median2 Sale Price $300,000 $357,500 19%
Milton February YTD February YTD % Change
No. of Residential Sales 159 274 72%
Average1 Sale Price $312,733 $377,010 21%
Median2 Sale Price $304,250 $360,250 18%
Oakville February 2009 February 2010 % Change
No. of Residential Sales 158 293 85%
Average1 Sale Price $442,792 $586,031 32%
Median2 Sale Price $380,000 $498,900 31%
Oakville February YTD February YTD % Change
No. of Residential Sales 243 488 101%
Average1 Sale Price $452,505 $572,812 27%
Median2 Sale Price $381,000 $498,800 31%
1The average home price is found by adding the value of all sales and dividing by the number of homes.
2The median sale price is the midpoint of all sales.
The information provided herein is deemed accurate but not guaranteed.
Source: Oakville, Milton and District Real Estate Board [OMDREB] www.omdreb.on.ca
MLS® Powered by Tarasoft MATRIX v2.2. www.onmatrix.ca
Your local REALTORS® LIVE, GIVE & PLAY in the Neighbourhood too!
Established in 1954, The Oakville, Milton and District Real Estate Board (OMDREB) serves Oakville, Milton and
surrounding communities with more than 1,800 REALTORS®. Members of the association may use the REALTOR®
trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association
operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its
Members. OMDREB Realtors® care about creating a better community and participate in the ‘Every REALTOR Cares'
program which supports shelter-based initiatives.
For more information visit www.omdreb.on.ca or call OMDREB at 905.844.6491
