The Bank of Canada cut their interest rates with 2 small adjustments this year, which has increased buyer activity slightly in the GTA. 

Most significantly, buyers have a lot of choice, with an increase of 55% of active listings in the GTA over the same time last year.  This means that the market has about 4 months of inventory right now Keep in mind, this market is very specific to different segments of the market. 

In the GTA there were 5,391 sales, which is a slight increase of 3% over last year, while prices remained relatively level with an average sale price of $1.1M. 

In Milton, we saw 129 sales last month and an average sale price of just under $1.1M.  With 483 active listings in Milton, we have roughly 3.7 months of inventory in the area.  Homes last month had an average of 34 DOM and sold for roughly 98% of asking. 
 
What does all this mean? While sales numbers are down, prices have not been trending down and are staying about level with previous months.