July 2023 – GTA Housing Market News
Here is our quick market update for the Toronto Real Estate Board and Milton area.
The number of sales across the GTA was 5250 which is an increase of 7.8 percent over this time last year. We are seeing more properties hitting the market, an increase in new listings of 11.5 percent which is a big jump considering where we’ve been on a very much seller’s market for so long so the average sale price year over year is up 4.2 percent at $1,118,374 across the GTA.
Milton specifically we saw an average sale price of $1,079,477 and about 2 week on the market. We are seeing about a month and a half worth of inventory so if this pattern continues of seeing more and more properties hitting the market much faster and more buyers sitting on the sidelines waiting for interest rates to adjust we may see a much more balanced Market into the fall.
If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.
By: Jeannie Oropesa
Milton Real Estate Market
The average price in Milton $1,079,477
Burlington Real Estate Market
The average price in Burlington $1,166,119
Oakville Real Estate Market
The average price in Oakville $1,528,833
