The market continues to tighten with most areas seeing an increase in sales and a decrease or similar number of homes new to the market when compared to the same period in 2018. The Average Selling Prices continue to rise but by modest amounts until you see the results for Milton and Oakville. Here we go:
BURLINGTON JULY RESULTS
"A yearly real estate cycle sees peaks in spring and fall, with a typically slower summer. Average prices have stayed fairly stable since the spring high, which could point towards a healthy fall market when we could see the number of sales edge higher again." says RAHB President Bob Van de Rande.
The Sales activity for the Burlington area saw a 17% increase from July 2018 and no increase in the number of listings. The Average Selling Price - 0% increase to $767,293 from $764,739 in July of 2018. For your full report please click here
OAKVILLE & MILTON JULY MARKET REPORT
When compared to July 2018 the number of residential sales for Oakville saw an increase of 5.3%. The total number of listings was 985 units for both Oakville and Milton, compared to 1,127 in July of 2018. In Milton we saw a decrease in the number of sales by18.45% when compared to 2018. Average Selling Price increase by 6.66% in Oakville and an incredible increase of 10.08% in Milton. For your full report on Oakville please click here and for Milton click here.
G.T.A MARKET RESULTS
New listings entered into TREB's MLS® system in July were up compared to July 2018 but by only 3.7%. Sales were up by 24.3% when compared to the same period last year.
As market conditions continue to tighten in July, the average selling price increased by 3.2% on a year-over-year basis to $806,755. Higher density home types continued to drive the price growth (condominiums), whereas detached home prices remained down in many communities throughout the GTA.
For your full report on TREB's July market, please listen to Jason Mercer's video below. For the Mississauga area your full report is here