Housing Market Insight August 2023 – Elevate Your Home in Milton and Make Your Dreams Come True!

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Housing Market Insight August 2023 Elevate Your Home in

Housing Market Insight August 2023 – Elevate Your Home in Milton and Make Your Dreams Come True!

August 2023 – GTA Housing Market News

 

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area.

With higher borrowing costs and August typically being a slow month in residential real estate we saw that the constrained supply of listings resulted in few home sales than last year. When looking at the average sale price across the GTA prices are up 0.3% overall with semi-detached up 6.9%. Affordability is pushing a lot of people to consider townhomes or semi-detached over detached. On September 6th the Bank of Canada held interest rate at 5%. This is great news as it provides stability for both fixed and variable mortgages. We expect to see some buyer confidence in the fall following the pause in rate hikes. This is what we saw in March after the pause last winter. Historically September is a busy month for new inventory and buyer activity as a lot of people take the summer off to spend time with family and get ready for back to school.

If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.

By: Maggie Renaud

Milton Real Estate Market

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Housing Market Insight August 2023 - Elevate Your Home in Milton and Make Your Dreams Come True! 6

The average price in Milton $1,083,812

Burlington Real Estate Market

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Housing Market Insight August 2023 - Elevate Your Home in Milton and Make Your Dreams Come True! 7

The average price in Burlington $1,075,897

Oakville Real Estate Market

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Housing Market Insight August 2023 - Elevate Your Home in Milton and Make Your Dreams Come True! 8

The average price in Oakville $1,492,687

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The average price in GTA $1,082,496

Have questions about the market? Contact us today to learn more!

Previous Reports on GTA Housing Market News

 July June  May  April  March  February

The post Housing Market Insight August 2023 appeared first on The Katherine Barnett Team.

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Housing Market Insight August 2023 – Real estate sales in Milton

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