Milton Market Update (Prices Climbing as Housing Remains Scarce in Halton)
Wednesday Dec 04th, 2019
Prices Climbing as Housing Remains Scarce in Halton
if you're hoping to purchase a home before the year end, be prepared for rising prices of homes caused by low inventory in the market.
This lack of new housing inventory is driving prices higher, as motivated buyers are being forced to compete for a limited amount of houses. find your new home with Nabeel Amjad Top agent working in Halton Region property-search
The Toronto Real Estate Board (TREB) says that GTA realtors reported 7,825 sales through TREB’s MLS System in September 2019—22 per cent higher compared to the 6,414 sales reported in September 2018. Month-over-month, there was little difference in sales.
TREB says the supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611.
“Consumer polling conducted for TREB over the past few years has pointed out that many intending home buyers are still focused on ground-oriented housing. This points to the need for a greater diversity of housing types to bridge the gap between detached houses and condominium apartments.”
As far as Oakville, Milton, Burlington and Halton Hills go, prices are getting higher as well. the average home price ticked up 6.2 per cent year-over-year to $908,053.
As a result, the demand for all types of housing in the GTA - rental and ownership - will remain strong. This fact underpins the need for immediate and sustained action on housing supply.