May 2021 – GTA Housing Market News

What is currently happening in the Real Estate Market?

Buyers, I know you have been waiting for some good news and it’s finally here!

The market is no longer insanely crazy in the Halton & Hamilton regions. While the desirability of a property can certainly change things, we wanted to let you know that it appears the multiple offer market is cooling. Through COVID we had been seeing 30+ offers on all kinds of properties however that appears to have cooled to a more reasonable 2-10 offers.

In fact, we recently helped some buyers successfully purchase a home conditionally and without competing offers. Let’s be strategic and work to get you what you want the way you want it.

Reach out if you have any questions, we are here to help.

Milton Real Estate Market

The average price in Milton is $1,062,600.

Burlington Real Estate Market

The average price in Burlington is $1,035,965.

Oakville Real Estate Market

The average price in Oakville is $1,476,467.

Previous Reports on GTA Housing Market News –April, March, February

April 2021 – GTA Housing Market News

What is going on with the real estate market?

Here are the April stats:
– Number of sales is down 12.7% in April over March
– But, number of sales are up 36.6% compared to the 10 yr average
– New listings are down 8.4% month over month

Milton Real Estate Market

The average price in Milton is $1,061,348

Burlington Real Estate Market

The average price in Burlington is $1,055,023

Oakville Real Estate Market

The average price in Oakville is $1,458,793

Previous Reports on GTA Housing Market News – March, February, January

It may be no surprise to hear that March 2021 was yet another record-breaking month in real estate. Home sales are reportedly largely driven by low interest rates and consumer confidence remains high, even though we’re stepping into more COVID related restrictions right now. While inventory and sales are way up again in March they have yet to catch up to the backlog of buyers so we’re still in a seller’s market.

March 2021 – GTA Housing Market News

Milton Real Estate Market

The average price in Milton is $1,037,207.

Burlington Real Estate Market

The average price in Burlington is $1,099,362.

Oakville Real Estate Market

The average price in Oakville is $1,526,414.

Previous Reports on GTA Housing Market News – February, January, December,

In February inventory finally picked up, with almost double the supply compared to January. This is great news for buyers who are currently looking to purchase a home, as there are more options available.

February 2021 – GTA Housing Market News

Milton Real Estate Market

The average price in Milton is $1,023,472.

Oakville Real Estate Market

The average price in Oakville is $1,456,537.

Burlington Real Estate Market

The average price in Burlington is $1,058,560.

We continue to be in a seller’s market with a lot of competition. We have been saying this for months now, but it continues to be a great time to sell. 

Previous Reports on GTA Housing Market News –  January, December, November

It’s been a busy month in the market. We are still in a very hot sellers market. Over the past few weeks we have seen an increase in supply, although it continues to remain much lower than demand. ⁠

⁠Market values have dramatically changed over the last few months. With the average sale price across the GTA at a high of $968,000.  These are huge price increases, with the Milton real estate market in particular seeing massive year over year growth.

January 2021 GTA Real Estate Market Report

Milton Real Estate Market

The average sale price in Milton is $1,000,351 it is up 26.4% year over year.

Burlington Real Estate Market

The average sale price in Burlington is $973,793.

Oakville Real Estate Market

The average sale price in Oakville is $1,397,462.

With supply so low, it is a great time to sell. ⁠

Previous market updates: December, November, October

December’s market update is here!

Before sharing December’s market stats, we first want to recap 2020 and then finish this off by touching on 2021 predictions.

2020 RECAP

Despite the year we had with COVID, economic uncertainty & lockdowns, it was a record breaking year in Real Estate. The average sale price across the GTA reached a new record of almost $930,000. That is up 13% year over year. We saw a lot of competition for single family homes last year, which resulted in them experiencing the strongest price growth in the suburbs.

DECEMBER’S MARKET STATS

Let’s look at the December stats for Milton, Burlington and Oakville.

PREDICTIONS

Now let’s talk about 2021 predictions. The real estate market was extremely competitive in 2020 and we are expecting 2021 to be no different.

There are 4 main factors that will impact the real estate market this year.

⁠1. Immigration – In 2020 immigration dropped although Canada is planning on welcoming 1.2 million people between 2021 & 2023. ⁠⠀

⁠2. Interest rates – Interest rates have been at an all time low and are expected to stay low throughout 2021.

⁠3. Housing supply – We have been in a sellers market for months now and with people continuing to make significant lifestyle changes we don’t anticipate this changing. Currently supply is extremely low, so if you have been thinking about selling now is a great time.

⁠4. COVID 19 – The pandemic has caused buyer preferences to change. 2020 had many of us reconsider what is important to us, especially when it comes to our home. We anticipate home-buyer trends to continue to shift in 2021. ⁠⠀

RE/MAX Canada is currently anticipating that Ontario will experience 7-12% price growth in 2021.

A look at the GTA Real Estate market reviewing November Market Statistics.

Do you have questions about the GTA real estate market? Reach out to learn more about your local market—and how we can help!

The latest numbers for the GTA real estate market focusing on Milton, Burlington, Oakville and Toronto.

Do you have questions about the GTA real estate market? Reach out to learn more about your local market—and how we can help!

Do you have questions about the GTA real estate market? Reach out to learn more about your local market—and how we can help!