PHOTOS: Some relative bargains among least expensive homes in Burlington, Milton, Oakville

Competition is stiff out there for buyers. Today’s extremely low inventory levels are constraining the number of sales taking place in Oakville, Burlington, Milton and Halton Hills.

Nearly all new listings are selling within the month they’ve been listed, and older inventory is selling too, greatly reducing the total months of inventory on the marketplace and overall limiting how many sales can take place.

These tight inventory conditions are contributing to creating a very competitive marketplace for buyers with strong price appreciation.

Halton Region has one of the highest price points of any GTA market, with an average price tag of $1,343,098, an increase of 23 per cent. With only 439 new listings, down eight per cent, coming to market last month, and 490 sales, down 16 per cent, conditions have become extremely competitive for buyers.

The average detached home in Halton topped a new record last month with an average price of $1,810,446 (+27 per cent) and 230 homes trading hands (-25 per cent). The detached segment is overwhelmingly the most popular housing type on the market.

Other housing types like condo apartment, condo town, and semi-detached had 81 (+3 per cent), 63 (-24 per cent), and 23 (+21 per cent) sales and an average price of $699,100 (+10 per cent), $841,779 (+34 per cent), and $1,180,807 (+34 per cent), respectively.

Least Expensive

204-1820 Walkers Line, Burlington

This condo sold for over asking price in three days, netting $475,000. Located in the Tansley community, the bright, one-bedroom, open-concept suite comes with underground parking and in-suite laundry.

Photo courtesy of Keller Williams Edge Realty

1135 Cooke Blvd., Burlington

This stacked townhouse unit with direct entrance and private terrace sold for $492,000. Walking distance to Aldershot GO, underground parking and quick access to Hwy. 403. Open-concept kitchen and living area.

Photo courtesy of Re/Max Realty Specialists Inc.

408-2325 Central Park Dr., Oakville

A great location one of the main selling points of this one-bedroom condo that sold for $505,000. Steps to 27-acre park, trails and a south-facing balcony. Building amenities include outdoor pool, party room, gym, barbecue area and sauna.

Photo courtesy of Royal LePage Real Estate Services Ltd.

208-2035 Appleby Line, Burlington

This great starter home sold for $28,000 over asking price at $507,000. Bright, sun-filled living space and bedroom, with balcony access from living room. Large kitchen, stainless steel appliances and lots of counter space.

Photo courtesy of Your Home Sold Guaranteed Realty Service Inc.

1002-975 Warwick Ct., Burlington

Selling for nearly 15 per cent over asking, this newly-renovated, spacious two-bedroom condo unit went for $515,000. High-end finishes, an abundance of light and oversized living and dining room.

Photo courtesy of Woodsview Realty Inc.