Saying that the market is hot, is an understatement. The demand continues as low-interest rates continue to be the norm and buyers are looking outside the Toronto area for bigger homes as they continue to work from home. Here are your March Market Results for the Toronto, Mississauga, Oakville, Milton and Burlington areas:
For March 2021 as a whole, new listings were up 57% however, the annual growth rate for new listings was well below that of sales. The Average Selling Price, at $1,097,565 was up by 21.6% over the same period. Following the trend, low-rise home sales in regions surrounding the City of Toronto drove price growth. For the Peel Region report please click here.
The Realtors® Association of Hamilton-Burlington reported 447 sales in Burlington for March - a 61% increase when compared to March 2020. New listings however, only increased by 41%. As multiple offers continued, the average selling priceincreased by 30% to $1,088,670. For your full report on the Burlington market, please click here.
"As we begin to wrap up the first quarter of 2021, we continue to see robust growth of the housing sector in Oakville, Milton and beyond. While the market activity this year remains indicative of Buyer and Seller confidence, there is still an apparent lack of inventory that has yet to give way," says OMDREB President Lynn Hoffman.
For your full report, including Average Selling Price for Oakville and Milton, click here.