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For .pdf version, please click here: Milton Monthly – September 2019
Ready, set, GO!
The 209 residential sales here in Milton for August 2019 represent a whopping 30% increase in volume when compared to August 2018. The average sale price , while relatively flat, is up a modest 1%. With the Bank of Canada holding the overnight interest rate steady for the time being, buyers are returning to the market with confidence. What is historically one of the slower months of the year as people vacation and get ready for back to school was in fact one of the more active.
The Milton real estate market is currently at a comfortable point of balance, with signs pointing to it potentially becoming a seller’s market in the near future. With inventory being just over a 1 month supply, if we have a similar month in September, it could tilt the scales towards a lack of supply. Historically low interest rates are making it easy for people thinking of upgrading. There is also an extreme shortage of rentals available in almost all areas of Milton and the GTA, other than the very newest neighbourhoods. If you’re thinking of an investment property, or a property with a second living space you can rent out, it is proving to be quite easy to find quality tenants and most times there are multiple applicants.
All signs are pointing to a very strong end of year for 2019 and good start to 2020. If you have questions about the current statistics or trends, don’t hesitate to call or email us. We’re always available to chat real estate!
Your local real estate professionals,
Kyle and Jay