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.
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
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.
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.
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.