November 2020 Market Intelligence

Strong Prices & Volume Continue

We sold 390 properties in Oakville in October which is relatively unchanged from September but a 34% increase from last October. The average sale price dipped 7% from a month ago but a whopping 24% increase from a year ago.

Milton sold 250 properties in October which was an 11% dip from A month ago but a 50% increase from a year ago. The average sale price of $916,717 was up a smidge from last month but up 20% from a year ago.

Burlington sold 370 properties in October up by 4% from last month and up 81% from last year! The average price was relatively unchanged from last month but up 11% from last year.

The rising volume is due to rising demand which is being fuelled by immigration, low interest rates, and the pandemic effect (more on this in the video). While the volume has been increasing like an unstoppable force, the inventory (or months of inventory), while also increasing significantly has not been able to keep up with demand, therefore the prices have been rising very quickly.