Posted 2.21.17 @ 0:0
Halton Region was no doubt a seller’s paradise in 2016. The average home price shot 20.8% compared to the previous year, placing the average home price for the region at above a staggering $800K!
Burlington, Oakville, and Milton have had significant increases in home prices and units sold with only Halton Hills showing a slight decrease as can be seen on data collected from the monthly and quarterly sales figures of Toronto Real Estate Board.
Rising Real Estate Prices in GTA
Oakville topped the whole region registering an average home price of a little over $1 million in 2016. That is a 21.4% increase or more than $178,000, significantly higher than Milton’s increase of more than $100,000 or 18.4% which makes Milton a distant second to Oakville at a $642,833 average home price.
Burlington had a similar increase in the average price of homes, hiking up a little under $100,000 or 16.8% which places the average home price at $690,243.
Homes Continue to Sell Despite Price Increase
Oakville led the number of units sold in 2016, at 689 more than the previous year, placing the number of units sold in Oakville at more than 4,000 last year. That is a 20.5% increase compared to Burlington’s 14.1% (289 more units sold than the previous year) and Milton’s 5.6% (132 more units sold than the previous year).
Halton Hills is the only area in the GTA that saw a slight decrease in the total number of units sold in 2016 as compared to the previous year, selling 1,013 units which are 27 units short of the 2015 record as similarly mentioned above. Perhaps the culprit is the $81,500 rise in the average price of homes in Halton Hills? It is now at $633,448, a 14.8% increase compared to the 2015 average.
Want to be a part of the red-hot real estate market in Oakville and the GTA? Whether you’re buying or selling, it pays to have Toronto real estate experts on your side. Help us assist you with your needs by contacting us soon!