January 2025 Market Report
February 6, 2025
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Milton, ON, February 6, 2025 – Homebuyers in the Halton Region are expected to benefit from lower borrowing costs and the decent availability of supply as we head into the spring market, which will result in increased transactions. Overall, we expect the coming months to be fairly active, although it remains to be seen how consumer confidence is impacted by potential trade disruptions, if any.
Top of mind for The Oakville, Milton and District Real Estate Board (OMDREB) is the provincial election happening in a matter of weeks, and the housing platforms of candidates for Oakville, Milton, and Halton Hills. OMDREB will be discussing local housing issues with all of the candidates, and immediately begin working with the successful incumbent on addressing challenges.
“The start of 2025 brought more inventory for Buyers who moved off the sidelines at the end of 2024, and are actively looking to purchase in the new year. Sales volume and average sale prices across the Halton Region were down on a year over year basis, but the median sale price saw an increase of +4.2% year over year.
The townhouse and condominium market were fairly strong in January as the average sale price was up +6.0% year over year and up +1.0% month over month. The Oakville townhouse and condominium market showed even greater price appreciation than the regional averages, with the average sale price increasing +9.1% year over year and +3.0% month over month. Halton Hills was particularly strong last month. The average sale price of a townhome or condominium was up +20.9% year over year and the average price of a single family home was up +15.3% year over year as well,” says OMDREB President Ken Mazurek.
Following several rate cuts by the Bank of Canada, both Buyers and Sellers are carrying a bit of renewed optimism into 2025. While this early optimism may have been a bit curtailed by the threat of tariffs and a potential trade war, increased inventory and affordability are setting the stage for what could be an active spring market,” continues Mazurek.
He adds, “When consumers are ready to buy or sell their home, making an informed choice by using an OMDREB REALTOR® should be a priority.”
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