The real estate market in the Halton region, comprising Oakville, Burlington, Halton Hills, and Milton, has seen some notable changes in recent months. By analyzing the key market statistics for November 2024 and comparing them to November 2023, we can gain valuable insights into the current trends and how they might impact buyers, sellers, and investors in these thriving communities.

Active Listings:

One of the most significant trends across the Halton region is the increase in active listings. Oakville saw a 12.3% rise, Burlington experienced a 9.8% increase, Halton Hills had a 12.4% jump, and Milton recorded an 11.4% growth in active listings. This indicates that buyers in these areas may have more options to choose from, potentially leading to a more balanced market.

Average Selling Price:

The average selling prices in the Halton region have also experienced upward momentum. Oakville saw a 6.0% increase, Burlington had a 6.8% rise, Halton Hills recorded a 6.3% growth, and Milton witnessed a 5.9% increase in average selling prices. This price appreciation can be attributed to factors such as limited supply, strong demand, and continued investment in these desirable communities.

Average Days on Market:

The average days on market in the Halton region have also increased, ranging from a 7.4% rise in Halton Hills to a 9.1% increase in Burlington. Oakville and Milton experienced 8.0% and 8.3% increases, respectively. This trend suggests that properties may be taking slightly longer to sell, indicating a potential shift in market dynamics.

Sales Volume:

In contrast to the increases in active listings and average selling prices, the sales volume across the Halton region has seen a decline. Oakville experienced an 11.9% decrease, Burlington had a 9.9% drop, Halton Hills recorded a 12.5% reduction, and Milton saw an 11.4% decline in sales volume. This decrease in sales volume could be influenced by various factors, such as changes in buyer sentiment or market conditions.

Conclusion:

The real estate market in the Halton region, including Oakville, Burlington, Halton Hills, and Milton, has experienced a mix of trends in November 2024 compared to November 2023. While active listings and average selling prices have increased, the average days on market have also risen, and sales volumes have declined. These insights highlight the dynamic nature of the local real estate market and the importance for buyers, sellers, and investors to stay informed and work with experienced real estate professionals, such as the team at Mod Realty, to navigate the evolving landscape effectively.