Condo prices in Oakville, Burlington, Milton, and Halton Hills have defied the downward trend seen across the Greater Toronto Area (GTA). According to a report from the Toronto Region Real Estate Board (TRREB), average condominium prices in Halton Region increased in the third quarter of this year compared to the same period in 2023, while they fell across most of the GTA.
The report examined condo sales in five GTA areas: Halton, Peel, Toronto, York, and Durham. Halton was the only region to record a price increase. From July to September, the average condo price in Halton, based on 258 sales, was $732,669, up from last year’s $717,614 across 266 sales.
Across the GTA, the board reported 4,204 condo sales, with an average price of $692,672, down from last year’s 4,399 sales at an average of $716,479.
“While condo sales remained low in the third quarter, market conditions are expected to improve,” said Jennifer Pearce, TRREB president. She noted that interest rate cuts could prompt renters to transition to home ownership as borrowing costs and home prices decrease, making monthly payments more affordable.
Oakville saw the highest average condo price in Halton at $791,547 with 109 sales. Burlington followed with 106 sales at an average of $721,114. Milton recorded 37 sales averaging $613,943, while Halton Hills reported six sales at an average of $599,317.
Jason Mercer, TRREB’s chief market analyst, noted that, as market conditions stabilize, the inventory of available listings will decrease, tightening the market and likely driving price growth through 2025.
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