January 2021 Market Intelligence

As you can see in the information provided below, the real estate market remains red hot with annual price increases of roughly 20% and volume increases of 40-78% and inventory levels down by 50-60% in relation to demand. Will this continue? I really wish it won’t continue like this, but that’s just a wish. Every sign I see points to this continuing for quite some time. There are two things that could slow this market down. A substantial increase in inventory or a substantial increase in lending rates. I don’t think either are likely anytime soon.

How do we do business during the lockdown? We will narrow down your search virtually. I will go to the houses we would normally see in person together with my video equipment (I just upgraded my equipment to the newest DJI OM4 which is a gimbal for my iphone to keep the picture steady, crisp and clear). I will phone you from the house by either facetime or messenger and take you through the house, room by room as slow or fast as you want to go. We can talk while we’re going through. Once we’ve narrowed it down to a house that you would want to make an offer on, then I will book an in person showing for us. This system was used very successfully during the first lockdown, and it’s working very well now also. Call me any time to discuss at 905-399-4269.

Oakville

Sales Volume: 27% decrease since last month. 42% increase since last year. 

$$$ Average Sales Price: 1.95% increase since last month. 22% increase since last year. 

Days On Market: 26% increase since last month. 14% decrease since last year.

Months Of Inventory: 21% decrease since last month. 50% decrease since last year. 

Milton

Sales Volume: 36% decrease since last month. 65% increase since last year. 

$$$ Average Sales Price: 4.6% increase since last month. 22% increase since last year. 

Days On Market: Unchanged from last month. 47% decrease since last year. 

Months Of Inventory: 20% decrease since last month. 60% decrease since last year. 

Burlington

Sales Volume: 31% decrease since last month. 78.8% increase since last year. 

$$$Average Sales Price: 2.6% increase since last month. 23% increase since last year. 

Days On Market: 10% increase since last month. 34% decrease since last year. 

Months Of Inventory: 18% decrease since last month. 55% decrease since last year.