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April 2024 Market Report


  • May 8, 2024

Milton, ON, May 7, 2024 – According to figures released May 7 by The Oakville, Milton and District Real EstateBoard (OMDREB), the number of all property sales reported by OMDREB REALTORS® decreased 10.8 percent for Single Family homes and 3.6 percent for Townhouse/Condo homes compared to April 2023.Median Sales Price increased 3.5 percent to $1,510,000 for Single Family homes but decreased 6.1 percent to $795,000 for Townhouse/Condo homes. The total number of new property listings increased 32.9 percent for Single Family homes and 54.8 percent for Townhouse/Condo homes compared to this time last year.

For homes processed through the OMDREB MLS® system, the number of Days on Market increased 26.7 percent for Single Family homes but remained flat for Townhouse/Condo homes this April.

Year over year, Inventory increased 70.6 percent for Single Family homes and 58.8 percent for Townhouse/Condo homes.

“We continue to see encouraging trends across Oakville, Milton, and Halton Hills with respect to the amount of properties becoming available for buyers on a year-over-year basis. Single family homes and condo/townhomes all saw substantial increases in new listings, with average prices remaining stable. This is good news for buyers who are ready to enter the market, and marks another positive milestone for those who may still be on the fence as they wait for borrowing costs to drop, at which time sales will start trending upwards again,” says OMDREB President Anthony Danko.

“We need housing to be accessible to all, and ample choice for buyers on the market right now without any kind of spike in pricing is a step in the right direction. Affordability across the entire housing spectrum is still top of mind for OMDREB, and we are committed to working with all levels of government to ensure continued improvements on that front,” continues Danko.

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