SO MANY TWISTS AND TURNS THIS YEAR
Having just completed the first nine months of the year, the results as of the end of September are substantially different from what they were earlier this year.
For the first time in many years we are experiencing a BALANCED market and this should be great news to everyone!
The real estate market in OAKVILLE, BURLINGTON, MISSISSAUGA and MILTON which peaked in the spring, appears to have hit bottom throughout the summer. Our local markets have stabilized and are generally seeing slight price increases.
If British Columbia is an indicator then we should continue to see improvements into next year.
Here are SEPTEMBER 2017 stats taken from the Toronto Real Estate Board (TREB) for Oakville, Milton and Mississauga, while the Burlington statistics are from the Realtors Association of Hamilton and Burlington (RAHB).
The number of sales is down over last year anywhere between 25-40% depending on the city and neighbourhood.
Oakville - 205 sales were report in September - a decline of 39.53% from last year, and down 7.24% since August
Burlington - 141 sales in September, down 28.39% from Sept 2016, and 18.36% fewer than last month
Milton - 162 sales in September, a decline of 25% from last year but up from August
Mississauga - 627 sales in September - down 40.06% from Sept 2016 and 0.95% fewer than in August
The positive price results compared to last year continued in September, with all areas running ahead for AVERAGE price, and Milton was the only city whose MEDIAN price dropped slightly compared to September 2016. Sale prices vary based on area and whether we look at the Average or Median prices.
All cities ended September with substantially more listings than a year earlier, and in Milton by over 100% more listings.
Here are the actual SEPTEMBER 2017 residential and condominium real estate results by area for OAKVILLE, BURLINGTON, MILTON & MISSISSAUGA Ontario.
You’ll also find below the video TREB Market Watch SEPTEMBER 2107 by Jason Mercer, Director Market Analysis in which Jason discusses why we have seen such changes in the real estate market.
Here are the individual sales results by city.