Halton Region Real Estate Market Trends: November 2024 vs. 2023 Insights

Introduction

The real estate market in the Halton region, comprising Oakville, Burlington, Halton Hills, and Milton, has seen some notable changes in recent months. By analyzing the key market statistics for November 2024 and comparing them to November 2023, we can gain valuable insights into the current trends and how they might impact buyers, sellers, and investors in these thriving communities.

Active Listings

One of the most significant trends across the Halton region is the increase in active listings. Our analysis reveals:

• Oakville: 12.3% rise in active listings

• Burlington: 9.8% increase

• Halton Hills: 12.4% jump

• Milton: 11.4% growth in active listings

This indicates that buyers in these areas may have more options to choose from, potentially leading to a more balanced market. The expanded inventory could provide more flexibility for potential homebuyers and help moderate the competitive landscape that has characterized recent years.

Average Selling Price

The average selling prices in the Halton region have experienced upward momentum:

• Oakville: 6.0% increase

• Burlington: 6.8% rise

• Halton Hills: 6.3% growth

• Milton: 5.9% increase in average selling prices

This price appreciation can be attributed to several key factors:

• Limited housing supply

• Strong demand in desirable communities

• Continued investment in local infrastructure

• The inherent value of Halton region properties

Average Days on Market

The average days on market in the Halton region have also increased:

• Halton Hills: 7.4% rise

• Burlington: 9.1% increase

• Oakville: 8.0% increase

• Milton: 8.3% increase

This trend suggests that properties may be taking slightly longer to sell, indicating a potential shift in market dynamics. Buyers and sellers should interpret this as a sign of a more measured, deliberate market compared to the highly accelerated periods of recent years.

Sales Volume

In contrast to the increases in active listings and average selling prices, the sales volume across the Halton region has seen a decline:

• Oakville: 11.9% decrease

• Burlington: 9.9% drop

• Halton Hills: 12.5% reduction

• Milton: 11.4% decline in sales volume

This decrease in sales volume could be influenced by various factors, including:

• Changing buyer sentiment

• Interest rate considerations

• Economic uncertainties

• Seasonal market fluctuations

Conclusion

The real estate market in the Halton region, including Oakville, Burlington, Halton Hills, and Milton, has experienced a mix of trends in November 2024 compared to November 2023. While active listings and average selling prices have increased, the average days on market have also risen, and sales volumes have declined.

These insights highlight the dynamic nature of the local real estate market and underscore the importance of working with experienced real estate professionals. The Jensen Team is committed to providing our clients with comprehensive market intelligence, helping them make informed decisions in this evolving landscape.

Looking to navigate the Halton region real estate market? Contact our team for personalized insights and expert guidance.