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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
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16 July 2019

Only one market in Canada shows an average home price above $1 million

Oakville–Milton in the GTA is the only real estate market showing an average home price exceeding $1-million mark.

A benchmark housing price here reached $1,008,600 last month, showing a 3% annual gain, says the Canadian Real Estate Association.

It’s the only Canadian market exceeding million-dollar mark in June.

Then goes Greater Vancouver with the benchmark price reaching $982,200.

Vancouver is still stabilizing, as prices were down by 9.6% annually and by 1.25% on a month-over-month basis.

Although Oakville may not be so interesting for Canadians outside of the home province, here you will see Canada’s most expensive homes on sale.

For instance, the waterfront Chelster Hall is listed for $59,000,000, which is almost twice higher than the most expensive property in Toronto.

The average home price in the Greater Toronto Area was $786,600 last month. It’s 3.79% higher than a year ago. Meanwhile, June reported only a 0.6% increase from the previous month.

According to the president of the Oakville–Milton real estate board, the local stability is expected.

“In the nearest future, we expect a stable market, and last month’s results prove it”, - noted Oliver Mata, Oakville, Milton and District Real Estate Board.

There were 764 homes sold in the region last month, which is down by only 20 transactions from a year ago.

“Although we’ve seen only slight changes in the market results on a year-over-year basis, there was a solid gain in dollar volume of sales,” - says Mata.

“Nevertheless, we’d like to see higher supply, and we are looking forward to an active fall market. Oakville and Milton are very safe areas for raising children, and they can boast of a great location in the GTA”, - he noted.

 

 

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