March Sales Report from Oakville, Milton & District Real Estate Board
President’s Message
HELLO! Someone forgot to tell Milton
about the Recession.
Spring is here,
Activity in the Milton resale housing market soared in March.
Residential resales in Milton increased by 42% in March 2009compared to March 2008. Driving this phenomenon is a multitude
of factors.
Milton is a community where affordable home ownership is still
possible, as well, a town that has the charm of a small rural community,
yet close to all the big city amenities.
“Milton is one of the most unique communities in Ontario - if not
Canada. Milton’s rapid growth and distinction as “Canada’s Fastest
Growing Community” is well known,” states Dianna Morrison,
President, The Oakville, Milton and District Real Estate Board. “The
population is younger, educated and diverse and they are the key
drivers behind a lot of the real estate activity in Milton.”
Low mortgage rates, affordable home prices and location measure
favourably with those moving to the Milton community.
The Oakville residential resale market also demonstrated healthy
activity in March with a 34% increase in resales from February 2009,
but still down 25% from March 2008.
Typically, the spring real estate market tends to experience more
activity. With the Bank of Canada dropping its prime lending rate
this month, those in the market for a home will see mortgage rates
at near record lows. This combined with the federal government’s
decision to increase the withdrawal amount in the Home Buyers
Plan from $20,000 to $25,000 will make buying a home a little
easier.
Regards,
Dianna Morrison
President, OMDREB
Re-Cap: Milton Market in March 2009
Average Price Median Price
$316,576 $302,500
Residential Type % of Units Sold by Type
Detached 71
Semi/Townhouse 84
Apartment/Condo 7
Detached Sales in Milton
Price Range % of Sales by Price
$200,000 - $300,000 1%
$300,000 - $400,000 65%
$400,000 - $600,000 34%
Semi/Townhouse Sales in Milton
Price Range % of Sales by Price
$200,000 - $300,000 87%
$300,000 - $400,000 13%
Apartment/Condo Sales in Milton
Price Range % of Sales by Price
$150,000 - $200,000 86%
$200,000 - $300,000 14%
Re