The story continues with a very tight market within the Burlington, Milton and Oakville areas where sales and listings were down. The only difference is what happened in the Toronto area where sales increased by 22% over the same period last year. It is also interesting to note what is happening in the Hamilton market - an 8.5% increase in the Average Selling Price due to the heavy supply versus demand for all home types across that City when compared to September 2018. For those wishing to see a breakdown of that City, please contact me.
Here are your September results for the Burlington, Oavkille, Milton, Mississauga and GTA areas:
BURLINGTON SEPTEMBER RESULTS
We have 20% less active listings than a year ago at the same time when sales were down by only 4%. As you can see, the market is getting even tighter. The Average Selling Price increased by 7% to $788,755 for all home types in the City of Burlington. The average days a house was on the market was 23.4 - down 10.2% from the previous year. For your full report plase click here.
OAKVILLE & MILTON MARKET RESULTS
The same story is happening for the Oakville & Milton areas. Residential sales were down by 9% in Oakville and a huge 27.16% in Milton. The number of new listings reported through the Oakville, Milton District Real Estate Board (OMDREB) was 1,127 compared to 1,230 in September of 2018. For your full report on Oakville please click here - for Milton click here.
G.T.A & PEEL REGION MARKET RESULTS
As mentioned earlier, Greater Toronto Area Realtors® reported an increase of sales growth of 22% compared to September 2018. The supply of listings continued to be a concern, with new listings down by 1.9%. "We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active listings at month-end being well-below last year's level, This speaks to tightening market conditions and an accelerating annual rate of price growth." The Average Selling Price for all home types combined was up by an annual rate of 5.8% to $843,115.
For your Mississauga and Bramton September results please click here. For the full report from Jason Mercer, TREB's Director of Market Anaylsis please watch the video below: