Just in, the official listings and sales numbers for real estate in the areas covered by the Oakville-Milton Real Estate Board:
Looking at those numbers, the very first thing that jumps out at me is how the main-stream media wasn’t reporting the sales levels last year as being down, when in fact they were down and we were already 3 months into the market slowdown. The next thing that jumps out is the increase in average sales price. In my opinion, it can be attributed to the lack of inventory more than the historically low interest rates.
Proving once again that real estate is local, look at the numbers for Oakville Ontario real estate, and you see a different picture. I’ll bring an update on the reasons for the difference in a future post, however, I included this information to illustrate the local nature of real estate and how the information you see published in the main-stream media is the inferior source for real estate market data.
