𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for December 2024 vs. 2023 home sales in Toronto, Mississauga, Oakville, Burlington 📢
Market activity in December varied across the areas in our report as compared to the same time last year. For example, where detached home prices may have been up year over year in Burlington, they were down in Oakville and flat in Toronto.
As an overall, new listings were up in 2024 at a greater annual rate then in 2023 and with a significant difference than the sell-through, providing buyers with considerable choice, impacting the rate of price growth.
Be sure to review our infographic slides for specific details by each home type and how it compares year over year.
💡 Here are our notable take away’s from the December 2024 real estate market activity and how it compared month over month with November:
◼️ Toronto average detached home price was flat month over month, semi detached average price up $50,000, freehold townhouses flat, condo townhouses pretty much flat (up by $25,000) and condo apartments flat month over month. No real significant change on a month over month basis in Toronto. Where we saw a greater impact was the year/year for semi detached homes up 11% over December 2023, along with a big drop in freehold towns: down 21% and condo towns down 13% year over year.
◼️ Mississauga home values were pretty consistent across all categories on a month over month basis. The detached average home price was down $25,000, semi-detached up $25,000, freehold townhouses up $65,000. Condo townhouses were flat, and condo apartments were pretty much flat – down by $18,000.
◼️ Oakville detached home values were down $80,000 month over month, semi-detached were flat, while the townhouse categories were both up: freehold townhouses up $150,000 and condo townhouses up $100,000 over the month prior. Opportunity continues in the condo apartment sector with the average price down $65,000 month over month. What stood out in Oakville was the drop in the average detached home price as compared to December 2024: down 8%, and semi-detached homes down 30% over last year – although this figure may be skewed from the lack of adequate homes sold, as only two semi-detached homes sold in Oakville for December 2024. Notable mention regarding condo townhouses, up almost 14.5% compared to last year.
◼️ Burlington home values were down across almost all categories on a month over month basis. The average detached home price was down $60,000, opportunity was evident for semi-detached homes, down $120,000. Freehold townhouses were the only home type up slightly over the month prior. Condo townhouses were down $80,000 and condo apartments with the biggest month over month drop, down $150,000.
𝗪𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝘄𝗵𝗮𝘁’𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗻𝗲𝗶𝗴𝗵𝗯𝗼𝘂𝗿𝗵𝗼𝗼𝗱? Obtain a personalized market analysis by booking a complimentary Buyer or Seller consultation with us via the link below.
