March 2024 Market Report

March 2024 Market Update Oakville OntarioLooking for a local market update? Keep reading for the March 2024 Real Estate Market Update for Oakville, Milton, Burlington, Mississauga, and Toronto.

March 2024 Oakville Market Update

Homes Sold

In February 2024, a total of 214 homes were sold in Oakville, representing a solid level of market activity. However, in March 2024, the number of homes sold surged to 266, indicating a significant increase in demand and transaction volume within just one month. This uptick in home sales shows the heightened buyer interest and a more active housing market in Oakville, which we tend to anticipate in the spring. 

Sales Price

Despite the increase in the number of homes sold, the average sales price experienced a slight decline from February to March 2024. In February 2024, the average sales price stood at $1,575,436, reflecting the high-end nature of the Oakville real estate market. However, in March 2024, the average sales price decreased to $1,486,000. While this represents a decrease in the average sales price, it's essential to note that Oakville remains a prestigious market with relatively high home values.

Milton

Homes Sold

In February 2024, Milton saw a total of 151 homes sold, indicating steady market activity for the month. However, in March 2024, there was a slight increase in the number of homes sold, with a total of 155 transactions recorded. While this uptick in home sales was modest, it suggests ongoing buyer interest and stability in the Milton housing market.

Sales Price

The average sales price in Milton experienced a marginal decrease from February to March 2024. In February 2024, the average sales price was $1,106,604, reflecting the strong demand and relatively high home values in the area. However, in March 2024, the average sales price dipped to $1,061,031. While this represents a decrease in the average sales price, Milton remains an attractive market with solid property values.

Burlington

Homes Sold

In February 2024, Burlington experienced a total of 203 homes sold, indicating robust market activity for the month. However, in March 2024, there was a notable increase in the number of homes sold, with a total of 236 transactions recorded. This significant uptick in home sales suggests heightened buyer interest and increased transaction volume within just one month, indicating a dynamic and active market in Burlington.

Sales Price

The average sales price in Burlington remained relatively stable from February to March 2024. In February 2024, the average sales price was $1,117,004, reflecting the strong demand and relatively high home values in the area. Similarly, in March 2024, the average sales price saw a slight increase to $1,119,979. This minor fluctuation in the average sales price suggests overall stability in property values, with Burlington maintaining its appeal as a desirable housing market.

Mississauga

Homes Sold

In February 2024, Mississauga saw a total of 475 homes sold, indicating a healthy level of market activity for the month. However, in March 2024, there was a significant increase in the number of homes sold, with a total of 581 transactions recorded. This substantial uptick in home sales suggests heightened buyer interest and increased transaction volume within just one month, indicating a dynamic and active market in Mississauga.

Sales Price

The average sales price in Mississauga experienced a notable increase from February to March 2024. In February 2024, the average sales price was $996,259, reflecting the strong demand and relatively high home values in the area. However, in March 2024, the average sales price saw a significant jump to $1,056,300. This increase in the average sales price suggests growing demand and appreciation in property values in Mississauga.

Toronto

Homes Sold

In February 2024, Toronto witnessed a total of 5,590 homes sold, indicating robust market activity for the month. However, in March 2024, there was a significant increase in the number of homes sold, with a total of 6,560 transactions recorded. This substantial uptick in home sales suggests heightened buyer interest and increased transaction volume within just one month, indicating a dynamic and active market in Toronto.

Sales Price

The average sales price in Toronto experienced a modest increase from February to March 2024. In February 2024, the average sales price was $1,108,720, reflecting the strong demand and relatively high home values in the area. However, in March 2024, the average sales price saw a slight uptick to $1,121,615. This increase in the average sales price suggests growing demand and appreciation in property values in Toronto.

Ready to learn more about buying or selling a home in Ontario this year? We're here to help, so contact us any time.

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