Enter The number of home sales recorded on the Oakville, Milton and District Real Estate Board (OMDREB) are stated as 155 residential transactions in Oakville through February 2018.
This number is down 38.73% compared to the record 253 sales reported in February 2017.
The number of new listings entered into OMDREB’S MLS® System totaled 923, this is an 11.20% increase compared to the 830 new listings entered in February 2017.
We did anticipate this slower start to the year and lower prices compared to the historically high sales count and price increases reported in the winter and early spring of 2017.
Prospective home buyers are still coming to terms with the psychological impact of the Fair Housing Plan, and some have also had to re-evaluate their plans due to the new OFSI-mandated mortgage stress test guidelines and generally higher borrowing costs.
As we move further into the spring and summer months, growth in sales and selling prices is expected to pick up relative to last year. We expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments.
If you are looking to sell or buy, please contact Raymond at www.paceteam.ca or 905-257-7500.
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