June 2023 – GTA Housing Market News
Here is our quick market update for the Toronto Real Estate Board and Milton area.
What we’re seeing is the prices have stabilized, so the average sale price in Milton between May and June was exactly the same. There was a slight dip overall in the GTA of just over 1%, but most of this drop was the average sale price in the City of Toronto. That can be skewed by lack of luxury and high end sales. We are still seeing record population growth, and we have more demand than supply and continued lack of inventory. We actually had more sales in June than we did last year in June, with even less inventory.
What we are seeing on the ground is just an overall slowdown, less showings, less offers. Which is typical for summer, July and August, we will see what happens going forward.
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: Katherine Barnett
Milton Real Estate Market
The average price in Milton $1,115,784
Burlington Real Estate Market
The average price in Burlington $1,178,036
Oakville Real Estate Market
The average price in Oakville $1,568,200
