December 2024 Market Report

Milton, ON, January 9, 2025  –  According to figures released January 9 by The Oakville, Milton and DistrictReal Estate Board (OMDREB), the number of all property sales reported by OMDREB REALTORS® in December decreased 22.7 percent for Single Family homes but increased 31.7 percent for Townhouse/Condo homes compared to December 2023.

Average Sales Price decreased 6.3 percent to $1,665,501 for Single Family homes and 8.9 percent to $984,060 for Townhouse/Condo homes. 

The total number of new property listings increased 31.4 percent for Single Family homes and 48.6 percent for Townhouse/Condo homes compared to this time last year. 

For homes processed through the OMDREB MLS® system, the Average Days on Market decreased 7.4 percent for Single Family homes and 2.2 percent for Townhouse/Condo homes this December.

“We continued to see highly encouraging market trends in the Halton Region as we rounded out 2024, with average prices remaining steady, increasing inventory levels, and interest rate cuts sparking renewed buyer confidence. Heading into 2025, we anticipate improved market conditions with more rate cuts on the horizon, which should help would-be buyers move off the sidelines and result in increased sales activity,” says OMDREB President Ken Mazurek.

“Throughout 2025, OMDREB will be keeping an eye on housing policies and make recommendations to all levels of government that reflect the Halton Region’s growth management strategy for the future. We must ensure a variety of housing is built to meet demand so that Halton Region remains one of the most desirable places to live in the province,” 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.”

Read the full report below.