Milton ON

AUGUST 2019 MARKET STATISTICS

AUGUST 2019 MARKET STATISTICS

GTA REALTORS® Release August 2019 Stats

September 5, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB’s MLS® System in August 2019. This result represented a 13.4 per cent increase compared to 6,797 sales reported in August 2018. On a monthover- month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent.

GTA-wide sales were up on a year-over-year basis for all major market segments, with annual rates of sales growth strongest for low-rise home types including detached houses. This reflects the fact that demand for more expensive home types was very low in 2018 and has rebounded to a certain degree in 2019, albeit not back to the record levels experienced in 2016 and the first quarter of 2017.

Market conditions also became tighter in August 2019 compared to a year ago because, while sales were up year-over-year, new listings were down by three per cent over the same time period to 11,789. Year-to-date, growth in sales has well outstripped growth in new listings. This is why overall active listings counted at the end of August were down by more than 11 per cent compared to August 2018.

The MLS® Home Price Index Composite Benchmark for August 2019 was up by 4.9 per cent on a year-over-year basis. The average selling price, at $792,611 in August 2019, was up by 3.6 per cent year-over-year. Both the MLS® HPI benchmark prices and average selling prices were up on an annual basis for major market segments. The condominium apartment segment continued to lead the way in terms of price growth, followed by higher density low-rise home types and finally detached houses.

Milton Summary:

Average Sale Price over this time last year:  + 4.7%

Number of Sales over this time last year:  + 21.4%

Oakville Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 4.3%

Burlington Summary:

Average Sale Price over this time last year:  + .8%

Number of Sales over this time last year:  + 11.2%

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 3.0%

Number of Sales over this time last year:  + 15.3%

Mississauga Summary:

Average Sale Price over this time last year:  + 6%

Number of Sales over this time last year:  + 9.3%

 

Posted by Christine Pecharich, 0 comments
JULY 2019 MARKET STATISTICS

JULY 2019 MARKET STATISTICS

GTA REALTORS® Release July 2019 Stats

August 6, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment.

New listings entered into TREB’s MLS® System in July 2019 were up compared to July 2018, but by a much lesser annual rate than sales, at 3.7 per cent. With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to last year. Active listings at the end of July were down by 9.1 per cent year-over-year, further reflecting tightening market conditions.

As market conditions continued to tighten in July, the average selling price increased by 3.2 per cent on a year-over-year basis to $806,755. The MLS® Home Price Index Composite benchmark was up by 4.4 per cent. Higher density home types continued to drive price growth, whereas detached home prices remained down in many communities throughout the GTA.

Broadly speaking, increased competition between buyers for available properties has resulted in relatively strong price growth above the rate of inflation for semi-detached houses, townhouses and condominium apartments. However, the single-detached market segment, which has arguably been impacted most by the OSFI stress test, has experienced a slower pace of price growth, with average detached prices remaining lower than last year’s levels in some parts of the GTA.

Milton Summary:

Average Sale Price over this time last year:  + 5.2%

Number of Sales over this time last year:  + 19.8%

Oakville Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 5.1%

Burlington Summary:

Average Sale Price over this time last year:  + 0.4%

Number of Sales over this time last year:  + 12.1%

Halton Hills Summary:

Average Sale Price over this time last year:  + 3.0%

Number of Sales over this time last year:  + 18.4%

Mississauga Summary:

Average Sale Price over this time last year:  + 5.7%

Number of Sales over this time last year:  + 8.3%

 

 

 

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MAY MARKET STATISTICS

MAY MARKET STATISTICS

GTA REALTORS® Release May 2019 Stats

June 5, 2019 — Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 9,989 transactions through TREB’s MLS® System in May 2019.* While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300.

The year-over-year uptick in sales experienced so far in the second quarter of 2019 reflects spring polling results from Ipsos (undertaken on behalf of TREB) suggesting that the share of likely home buyers in the Greater Toronto Area has edged upwards since the fall.

“After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see ownership housing in the GTA as a quality long-term investment as population growth from immigration remains strong and the regional economy continues to create jobs across diversity of sectors. However, sales activity continues to be below the longer term norm, as potential home buyers come to terms with the OSFI mortgage stress test and the fact that listings continue to be constrained relative to sales,” said Mr. Bhaura.

The number of new listings entered into TREB’s MLS® System in May 2019 was up only slightly compared to May 2018, increasing by 0.8 per cent to 19,386. Year-over-year growth in new listings was far outstripped by year-over-year growth in sales. This means that market conditions continued to tighten in favour of sellers. The MLS® Home Price Index (HPI) Composite benchmark price was up by 3.1 per cent on a year-over-basis. The average selling price for all home types combined was up by a similar 3.6 per cent to $838,540. Price growth was driven by the condominium apartment and townhouse market segments.

Milton Summary:

Average Sale Price over this time last year:  + 5.4%

Number of Sales over this time last year:  + 23.3%

Oakville Summary:

Average Sale Price over this time last year:  – 1.4%

Number of Sales over this time last year:  + 4.6%

Burlington Summary:

Average Sale Price over this time last year:  – 0.8%

Number of Sales over this time last year:  + 12.0%

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 2.2%

Number of Sales over this time last year:  + 55.6%

Mississauga Summary:

Average Sale Price over this time last year:  + 6.0%

Number of Sales over this time last year:  + 9.3%

Posted by Christine Pecharich, 0 comments
January Market Statistics

January Market Statistics

GTA REALTORS® Release January Stats

February 6, 2019 — TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December 2018.

“It is encouraging to see the slight increase in January transactions on a year-overyear basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura.

The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth. The average selling price was up by 1.7 per cent on a year-over-year basis. After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

Milton

Oakville

Burlington 

Halton Hills (Georgetown) 

Mississauga

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville, 0 comments
December Market Statistics

December Market Statistics

Market Watch

December and 2018 Annual Statistics Released

January 4, 2019 — Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB’s MLS® System in 2018. This result represented a 16.1 per cent decline compared to 92,263 sales reported in 2017. Total new listings entered into TREB’s MLS® System were down by 12.7 per cent over the same period to 155,823.

The overall average selling price for 2018 transactions, at $787,300, was down by 4.3 per cent year-over-year for all home types combined across the TREB market area.

Home prices were up very slightly in the City of Toronto and down in the surrounding GTA regions. This dichotomy reflects the fact that the condominium apartment segment, which accounted for a large proportion of sales in the City of Toronto, performed better from a pricing perspective than the detached market segment. The average price for condominium apartment sales across the TREB market area was up by 7.8 per cent year-over-year.

“Higher borrowing costs coupled with the new mortgage stress test certainly prompted some households to temporarily move to the sidelines to reassess their housing options. With this said, it is important to note that market conditions were improved in the second
half of the year, both from a sales and pricing standpoint,” said Garry Bhaura.

“After spiking in 2017, new listings receded markedly in 2018. In many neighbourhoods, despite fewer sales from a historic perspective, some buyers still struggled to find a home meeting their needs. The result was a resumption of a moderate year-over-year pace of home price growth in the second half of the year. Price growth was strongest for lessexpensive home types, as many home buyers sought more affordable home ownership options,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

MILTON

OAKVILLE

BURLINGTON

HALTON HILLS (Georgetown)

MISSISSAUGA

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville, 0 comments
8 Reasons Why December is a Perfect Time to Sell a Home

8 Reasons Why December is a Perfect Time to Sell a Home

There’s this myth out there that the real estate market slows or even stops in December. It may seem counterintuitive, but the holidays are actually an excellent time to sell your home!

Here are 8 reasons to buy or sell a home during the holidays:

  1. Serious Buyers: People who are looking to buy a home during the holidays are serious about finding their new residence! There may be fewer of these folks out there in general, but the ones who are looking are ready and wanting to buy, and they’re not messing around.
  2. Low SupplyTypically, there are fewer homes for buyers to look at around the holiday season, which means there’s less competition for the attention of those buyers! When the holiday season ends and the new year begins, the supply of homes goes up. More inventory can mean more competition, longer days on market and potentially less money for your home.
  3. Sell High, Buy LowIf want to buy a home in the 2018 spring market, selling now (and potentially renting short term) gives you the chance to be a non-contingent buyer when you’re ready to purchase in the spring. This is ideal. Since the spring time will bring more buyers into the marketplace for you to compete with, now you are set up as a “great buyer” who can compete with anyone, without a house sale contingency!
  4. Holiday DecorThe holidays tend to bring out the best in a home, when it’s all decorated and dressed to the nines! Your home will show beautifully, decked out in wreaths, red bows, and white lights! I particularly love the winter scents of pine, cinnamon and the toasty wood burning fireplace. Plus, the holidays can provide that emotional connection to a home that will help a buyer feel more attached and pay your asking price.
  5. More TimeWhile your first instinct might be that people are too busy during the holidays to look at homes, think again! Many buyers may have less demanding schedules during the holiday season, or time off during Christmas as opposed to a normal work week. Especially the case for relocation buyers… one of the best opportunities for a seller. They need to purchase and only have a short time to find their next home before the new year. (See #8!)
  6. Scheduling ControlDon’t worry—if you’re selling, you can still enjoy the holidays as usual! You can limit home showings to when you’re comfortable. You stay in control!
  7. Move in the SpringYou can sell during this prime holiday time, but still not have to worry about moving until January through March, well after the holiday season is over. You can negotiate a longer closing period or an extended use and occupancy.
  8. Capture the Relocating BuyerJanuary is often a time when employees begin new jobs. Oftentimes, when someone is transferred to a new position, they need a home, and they need it ASAP! This means they can’t necessarily wait until spring to buy, and that means you need to be on the market during the final months of the year to capture this unique buyer opportunity.


We’d love to help you sell your home for the holidays! You can contact us here: JP Team

 

 

Posted by Christine Pecharich in Burlington, Georgetown, Milton, Mississauga, Oakville, 0 comments
Whats Happening in Milton June and July 2018

Whats Happening in Milton June and July 2018

Whats happening in Milton:

For more details just click on the description

June 2nd  Milton’s Downtown Street Fair begins

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June 3rd – 11 am to 4:00 pm

Guided Lavender Farm Tours at Terre Bleu

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June 8th – Relay for life Milton 

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June 8th – Mac and cheese festival

Image for event The Mac and Cheese Festival

June 16th : 11:00 am to 12 pm Milton National Garden Day Event

June 23rd    Strawberry Fair

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July

July 6th – 8th Milton Rib and Craft Beer Fest

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July 21st Milton Night Market

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July 21 st 9:00 am to 11:30 pm Summer Fair and Farm Expo

Country Heritage Farm 

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Oakville April 2018 Market Statistics

Oakville April 2018 Market Statistics

GTA REALTORS® Release April Stats

May 3, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.

The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017. The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next. This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price.

“While average selling prices have not climbed back to last year’s record peak, April’s price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation,” said Mr. Syrianos.

“The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types. Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Posted by Christine Pecharich in Market Reports, Oakville, 0 comments
Mississauga April 2018 Market Statistics

Mississauga April 2018 Market Statistics

GTA REALTORS® Release April Stats

May 3, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.

The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017. The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next. This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price.

“While average selling prices have not climbed back to last year’s record peak, April’s price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation,” said Mr. Syrianos.

“The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types. Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Posted by Christine Pecharich in Market Reports, Mississauga, 0 comments
Milton March 2018 Market Statistics

Milton March 2018 Market Statistics

Statistics Supplied by the Toronto Real Estate Board:

Market Watch

GTA REALTORS® Release March Stats

April 4, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,228 residential transactions through TREB’s MLS® System in March 2018. This result was down by 39.5 per cent compared to a record 11,954 sales reported in March 2017 and down 17.6 per cent relative to average March sales for the previous 10 years.

The number of new listings entered into TREB’s MLS® System totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years.

“TREB stated in its recent Market Outlook report that Q1 sales would be down from the record pace set in Q1 2017,” said Mr. Syrianos. “The effects of the Fair Housing Plan, the new OSFImandated stress test and generally higher borrowing costs have prompted some buyers to put their purchasing decision on hold. Home sales are expected to be up relative to 2017 in the second half of this year.”

The MLS Home Price Index Composite Benchmark was down by 1.5 percent on a year-over-year basis for the TREB market area as a whole. The overall average selling price was down by 14.3 per cent compared to March 2017.

While the change in market conditions certainly played a role, the dip in the average selling price was also compositional in nature. Detached home sales, which generally represent the highest price points in a given area, declined much more than other home types. In addition, the share of high-end detached homes selling for over $2 million in March 2018 was half of what was reported in March 2017, further impacting the average selling price.

“Right now, when we are comparing home prices, we are comparing two starkly different periods of time: last year, when we had less than a month of inventory versus this year with inventory levels ranging between two and three months. It makes sense that we haven’t seen prices climb back to last year’s peak. However, in the second half of the year, expect to see the annual rate of price growth improve compared to Q1, as sales increase relative to the below-average level of listings,” said Jason Mercer, TREB’s Director of Market Analysis.

 

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