March 2021 Market Intelligence

The real estate market keeps gathering steam through the month of February in Oakville, Burlington, and Milton which should not come as a surprise to anyone. Every single year the spring market outperforms the winter market and we see no reason why that would not continue this year. Prices are only determined by demand and supply. We have less than one months supply in each town. Prices will only start to level off when we get back to 3-4 months of supply, and that is going to take a long time to get back to.

We sold 448 units in Oakville compared to 262 last month which is a 70% increase month over month and a 48% increase over last February.

The average sales price climbed by 4.3% in one month to $1,457,756 compared to $1,397,462 which is a difference of $60,294 in one month. The increase from a year ago was 23% or $275,025.

In Burlington we sold 311 units in February compared to 183 the month before for a 70% increase month over month and a 53% increase from last February.

The average sales price climbed to $1,058,560 from $973,793 a month ago for a increase of 8.7% in one month and a 22% increase from a year ago.

In Milton we sold 288 units compared to 142 a month earlier for an increase of 102%, and a 37% increase from a year ago.

The average sales price climbed to $1,023,472 from $1,000,351 a month ago for a 2.3% price increase month over month and a 27% increase from last February.