Oakville combines urban amenities with a quaint ambiance, boasting parks, historic downtown, and excellent schools, making it a favored living destination in the GTA.
Burlington offers rural charm and urban conveniences, with family-friendly events, great schools, and ideal location between Hamilton and Toronto.
Milton, a growing town with a small-town feel, features local businesses, scenic trails, and convenient transportation, making it a desirable commuter location.
Mississauga is a dynamic city with a mix of culture, entertainment, green spaces, and educational institutions, renowned for safety and family-friendliness.
Toronto, a diverse economic hub, offers vibrant neighborhoods, recreational activities, and top educational facilities, appealing to residents from around the world.
“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly payments, some buyers have likely saved up a larger down payment, chosen to purchase a less-expensive home type and/or looked to a different location in the GTA,” said TRREB President Jennifer Pearce.
“We had a positive start to 2024. The Bank of Canada expects the rate of inflation to recede as we move through the year. This would support lower interest rates which would bolster home buyers' confidence to move back into the market. First-time buyers currently facing high average rents would benefit from lower mortgage rates, making the move to homeownership more affordable,” said TRREB President Jennifer Pearce
"Borrowing costs are expected to trend lower in 2024. Lower mortgage rates coupled with a relatively resilient economy should see a rebound in home sales this year,” said new Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
“Inflation and elevated borrowing costs have taken their toll on affordability. This has been no more apparent than in the interest rate-sensitive housing market. However, it does appear relief is on the horizon. Bond yields, which underpin fixed rate mortgages have been trending lower and an increasing number of forecasters are anticipating Bank of Canada rate cuts in the first half of 2024. Lower rates will help alleviate affordability issues for existing homeowners and those looking to enter the market,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.
As the leaves fall and the temperatures drop, November brings a new set of opportunities in the world of real estate. Whether you're looking to buy, sell, or invest, we have developments to share with you this month.
September market stats showed a 5.4% increase in the Average Selling Price of all home types in Toronto Year over Year. In Oakville the Average Selling price was up 1% , Burlington was down -1% and Hamilton was down -0.3%.
While the average price across all home types in Oakville was down 6% at the end of August over last year, the number of sales were up, and this also holds true for Burlington. While the Toronto and Hamilton markets were slightly down year-over-year.
July 2023 Market Update
The Real estate market in Halton, Hamilton, and the Greater Toronto Area remains strong and vibrant. While there has been a slight increase in inventory, demand continues to outpace supply, leading to a competitive market. Buyers are actively seeking properties, and sellers are benefiting from the robust demand. Home prices have steadily increased, making it an opportune time to sell. If you're considering a move, now is an excellent time to explore your options!
May 2023 Real Estate Market Statistics
The GTA, Oakville, and Burlington continue to see prices on the rise and are trending toward a busy Spring market for both Buyers and Sellers on top of the normal Spring market.
The nice weather and increased consumer confidence has created a demand in the Real Estate Market. With a continued shortage of inventory vs the demand we are seeing many properties sell with Multiple offers!
My outlook for the spring market is get ready and prepare now as the Housing Market has started to change within the last week in Oakville, specifically Glen Abbey. We are seeing consumer confidence back as interest rates are stable and low Inventory to meet the demand. Housing prices are on the rise. An increase in Sale prices is forecasted from 2-8% in the Halton region but could be higher.
January Sales showed the return of a balanced market. The number of sales and the overall selling price were similar to December 2022.
Happy New Year! Wishing you and your family a year filled with peace, good health, and prosperity. Due to seasonality, the November and December Real Estate Markets were down in most areas.
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