𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for December 2023 vs. 2022 home sales in Toronto, Mississauga, Oakville, Burlington 📢
The last month of 2023 continued on the same trend as the fall months, however with a slight uptick in activity over November. Market conditions continue to be favourable for Buyers 𝘩𝘰𝘸𝘦𝘷𝘦𝘳 𝘪𝘯 𝘤𝘦𝘳𝘵𝘢𝘪𝘯 𝘢𝘳𝘦𝘢𝘴 𝘢𝘯𝘥 𝘩𝘰𝘮𝘦 𝘵𝘺𝘱𝘦𝘴/𝘱𝘳𝘪𝘤𝘦 𝘱𝘰𝘪𝘯𝘵𝘴 𝘸𝘦 𝘩𝘢𝘷𝘦 𝘴𝘦𝘦𝘯 𝘢 𝘥𝘪𝘴𝘵𝘪𝘯𝘤𝘵 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦 𝘢𝘴 𝘤𝘰𝘮𝘱𝘢𝘳𝘦𝘥 𝘵𝘰 𝘫𝘶𝘴𝘵 𝘰𝘯𝘦 𝘮𝘰𝘯𝘵𝘩 𝘱𝘳𝘪𝘰𝘳.
𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗻𝗼𝘁𝗮𝗯𝗹𝗲 𝘁𝗮𝗸𝗲 𝗮𝘄𝗮𝘆’𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝘁 𝗰𝗼𝗺𝗽𝗮𝗿𝗲𝘀 𝗺𝗼𝗻𝘁𝗵 𝗼𝘃𝗲𝗿 𝗺𝗼𝗻𝘁𝗵 𝘄𝗶𝘁𝗵 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟯 📑
◼️ Toronto average home values flat across all categories to the month prior, with the exception of freehold townhouses up $300,000 over November and a whopping 31.8% year/year. Freehold Toronto detached home values also flat year/year.
◼️ Mississauga average home values across all categories flat to the month prior, with the exception of semi-detached homes up $100,000 and condo apartments down slightly. All Mississauga home types down year/year. This provides for an excellent opportunity to buy/invest in Mississauga real estate.
◼️ Oakville is on fire and continues with the largest increase in freehold detached and semi-detached homes. Average freehold home values up $360,000 over November, and with a 22% increase in average price over December 2022. Semi-detached up $380,000 over November.
◼️Opportunity knocks for Oakville condos, down $120,000 over November and down 22% over last year
◼️ Burlington with interesting results for December. Detached home values down $120,000 month/month and down 14% over last year. Condo townhouses up $140,000 over November, and up 16% year/year.
◼️ Huge opportunity to buy a detached home in Burlington. December’s average price for detached was only $1,265,746 for detached, making this the most affordable in the areas in our report. When the market heats up, those priced out of Oakville will go into Burlington. Buy now! If you’re investing and want to buy under $1,000,000 – we can get a freehold townhouse in an affordable price point. Rental rates in Burlington are comparable to Oakville – therefore this is also opportune.
Be sure to view the full details of each area within our update. Click on each image to view.
𝗪𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝘄𝗵𝗮𝘁’𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗻𝗲𝗶𝗴𝗵𝗯𝗼𝘂𝗿𝗵𝗼𝗼𝗱? Obtain a personalized market analysis by booking a complimentary Buyer or Seller consultation by completing the form below, or give us a call anytime at 647-293-3785