Bucking GTA trend, housing prices continue to rise in Burlington, Oakville, Milton

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Published July 6, 2023 at 2:16 pm

hamilton burlington prices down buyers market real estate

Despite a general decline in home prices across the GTA, the cost actually rose in June in Burlington, Oakville, Milton and Halton Hills.

According to Zoocasa, a full-service brokerage that offers advanced online search tools, home prices in Halton experienced a slight bump of 1.65 per cent in June, bringing the average price to $1,294,251. This is largely due to the high average price in Oakville, hitting $1,568,200.

The number of sales in Halton has declined, with 787 homes trading hands, down 17.51 per cent in May. The number of new listings has increased about six per cent, to 1,546.

With fewer sales and more listings hitting the market, inventory is slowly rebuilding, with 1,315 active listings at the end of June, up 22.78 per cent from the previous month.

Although this number is still tight, it’s a good sign that the fall market could offer more options for buyers to choose from.

Oakville and Burlington had the most sales, with 270 and 259 homes trading hands, respectively. Detached homes were the most sold property type in both cities and the prices are still steadily growing.

In Oakville, the average price of a detached home hit $2,140,659, up 2.96 per cent month-over-month. In Burlington, the average price of a detached home was $1,491,135, up 1.63 per cent from the previous month.

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