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The real estate picture brightened substantially last month with figures from the Oakville, Milton and District Real Estate Board showing a 21% increase in the dollar volume of real estate sales over May, 1992. Area real estate sales totalled $51.7 million last month, up from $42.6 mil- lion last May, and $48.1 million in April, 1993. The number of sales also increased last month, to 246 from 234 one year ago and 240 in April of this "The increase in dollar volume appears to stem from a greater number of real estate sales in the higher end of the market," notes Oakville, Milton and District Real Estate Board President Richard Weima. "A close look at our Area real estate sales on the increase year Oakvi/leI Milton and District real estate picture brightens monthly statistics shows that only 10% of our residential sales last month came from properties priced at less than $150,000; 7% were priced at $400,000 or more In May, 1992, by contrast, 16% of all sales were in the $150,000-or-less price range and only 4% sold for over $400,000. While the figures seem to spell good news for local vendors, Mr. Weima warns that people should still moderate their price expectations in order to min- imize their length of time on the mar- ket. "Current mortgage rates continue to be extremely competitive and attractive and it is certainly an excellent time to buy." he says. "Even so, it would be misleading to suggest to people that the demand for property is strong enough to cause a price increase." Weima adds that resale vendors have the added stress of competing with new home builders for consumers' housing dollars. "Builders are offering strong bonuses and aggressive incentive programs to home buyers today in order to complete sales in what is still a very tough mar- ket," he says. "Fortunately, Members of Oakville, Milton and District Real Estate Board are given thorough train- ing in the subtleties of the market and are a real asset in your efforts to sell your property." This year has been, so far, an "unusual" year in real estate because the Oakville/Milton area missed the tra- ditional "spring market" - a few months of dramatic sales that usually occurs in the first few months of the year. Sales have continued to increase since the very low number of sales at the begin- ning of the year, and it is increasing on a gradual, continual basis. "lt could be due to the unusual weather we've had and it could be the economy but it's more than likely due to a lack of consumer confidence," Weima says. "I'm hopeful that the current slow month-over-month increases represent a continuing, stable trend, which is much better for all concerned than the leaps and bounds of other years."