September 2019 Market Intelligence

Oakville

Oakville’s average sale price has come back to it’s highest level since May of 2017, at $1,135,335 it shows us that the buyers of luxury homes have come back to the market after two years of being mostly on the sidelines waiting for some kind of verification the average sales prices have hit a bottom and are returning back to a steadily increasing pattern.  As we are now in the middle of the fall market, the amount of homes to choose from in the average price levels ($0-$1,500,000) remains very low, with less than 2 months supply, but there is still quite a bit to choose from in the over $2 million range which is what skews the total month’s supply to 3.7. The Oakville real estate market is quite solid right now, and of course is a wonderful place to live. If you have any questions about the Oakville Real Estate Market, please call, text or email me any time.

The graph below displays the average sale price in Oakville since 2009. I like to look at this to get a better look at the big picture and the trend line is pretty clear with occasional ups and downs.

Burlington

Burlington’s real estate market is on absolute fire at the moment, enjoying an average sale price of $820,569 (The highest since March 2017) and 2.1 months supply which is quite clearly a seller’s market. This is further evidence that there are more buyers coming back into the market than in the last two years since the correction. We are getting back to a time where the sooner you buy, the less you pay. As I always say, no matter what the market conditions are, if you are thinking about changing your primary residence, any time can be a good time as long as you feel that you have a good reason to do it, such as moving closer to work, or a particular school zone, or a neighbourhood you have always coveted and now you can afford it, or if sadly there is a break up, whatever your reason, I can help you find a good path to get it done.

The graph below shows Burlington’s average prices movement since 2009, and as you can see it looks very similar to Oakville and has recovered from “The correction” quite nicely and is back on track for 5% per year gains which is the normal average over 35 years.

Milton

While Milton’s real estate market is still strong, prices have dipped down to $741,829 from the higher prices we enjoyed in Milton from May and June in the $870,000 range (which was the highest since March 2017), but still great prices and great volume. This price dip indicates that the lower priced homes have been selling at a greater rate than the higher priced homes and at 1.3 months supply its definitely still a strong seller’s market in Milton.

The graph below shows Milton’s average sales price since 2009 and it looks almost the same as Burlington. Milton’s market is very strong and nicely predictable.