June 2024 Market Report

According to figures released July 8 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales reported by OMDREB REALTORS® decreased 25.6 percent for Single Family homes and 18.0 percent for Townhouse/ Condo homes compared to June 2024. Median Sales Price increased 0.1 percent to $1,425,000 for Single Family homes and 2.8 percent to $855,000 for Townhouse/Condo homes. The total number of new property listings decreased 0.3 percent for Single Family homes but increased 9.0 percent for Townhouse/Condo homes compared to this time last year. 

For homes processed through the OMDREB MLS® system, the number of Days on Market increased 26.7 percent for Single Family homes and 43.8 percent for Townhouse/Condo homes this June.

Year over year, Inventory increased 70.8 percent for Single Family homes and 100.0 percent for Townhouse/Condo homes.

“Anyone currently looking to buy a home in the Halton Region will benefit from ample choice of market inventory as we continue to see new listings rise, and continued stability of average prices across all home types. These are encouraging trends we have been seeing all year, and additional expected Bank of Canada interest rate cuts in the future should help those who intend to buy but are still sitting on the sidelines,” says OMDREB President Anthony Danko.

“While sales have slowed as of late, demand for all types of permanent housing and rentals remains strong. As such, we continue to work with all levels of government to ensure the development and supply of housing continues to be top of mind for policymakers,” continues Danko.

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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