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For .pdf version, please click here: Monthly Newsletter – March 2019
Now if only the hot market could help melt some of this snow..
The spring housing market in Milton is off to an early start in 2019. With inventory at the usual low level for this time of the year (less than 2 months worth), we have started to notice an increase in showings and offers on listed properties. Open house attendance has also increased significantly in and around Milton as first time buyers confident in the market are eager to make their first move. In February, 25% of homes sold for at least full list price with 16% selling for over the asking price.
The average sale price of $705,900 is up 3.2% when compared to the price recorded just a year ago. The 139 units sold also represent a an increase of 12.1% when compared to February 2018. It looks as though after a period of uncertainty and a bit of a “down year”, at least by GTA real estate standards, we are poised for a positive year in real estate here in Milton. With interest rates expected to hold steady, confidence in the market should continue to grow. This certainly feels like the year in which people who have been holding back on upgrading their homes (via renovation or upsizing) and investors come back to the market.
In the coming months the market will likely reach equilibrium as it typically does, so now may be a good time to consider listing if you’ve been thinking of holding off for warmer weather. If you’d like to discuss your options, or anything Real Estate related, we’re always available to chat.
Your local Real Estate professionals,
Kyle and Jay