Milton’s real estate market experienced changing sales activity and home prices throughout 2019. The year began with stronger sales and price growth, gained momentum in spring, slowed over the summer, and then saw another increase in activity in the fourth quarter.
This historical report brings the available monthly Milton real estate data from 2019 together in one place. These statistics reflect the information reported at the time and should not be used to estimate the current value of a Milton home.
Milton recorded 108 residential sales in January 2019, representing a 26% year-over-year increase in sales volume. The average sale price reached $762,635, up 16% from January 2018 and 6% from December 2018.
It was a relatively strong beginning to the year, with both sales and average prices improving compared with the same period a year earlier. The results also demonstrated how sales-to-new-listings ratios can help indicate whether buyers or sellers have more leverage in the market.
Milton recorded 144 home sales in February 2019, with a total sales volume of more than $103.4 million. The average sale price across all home types was $718,130, while the median sale price was $680,500.
There were 250 new listings during the month and 251 active listings at month-end. Homes sold for an average of 98% of their listing price after spending approximately 22 days on the market.
Milton’s spring market began gaining momentum in March, with 194 homes sold and more than $139.1 million in total sales volume. The average sale price was $717,432, while the median price reached $686,250.
The town recorded 350 new listings during the month, giving buyers more properties to consider as the spring market began. Homes sold for an average of 99% of their listing price and spent approximately 15 days on the market.
The Toronto Real Estate Board reported 257 homes sold in Milton last month, a 36 percent jump from April last year, when sales were weak after the implementation of a new mortgage stress test. Sales rose 25 percent month over month from March, based on TREB’s preliminary seasonal adjustment.
The average sale price for all types of homes climbed 3 percent over last April to $731,595. The single-family home segment drove April sales gains, while attached/townhome sales led price increases, the realtor group said. Prices for attached/townhomes were up 7.85 percent in April from a year earlier.
Milton region home prices rose a fifth consecutive month in May 2019 — up 10 percent on average year over year to $799,950 including all types of housing. Sales also grew substantially, up 33 percent year over year. Semi-detached homes continued to see the largest month-over-month price gains, up 12 percent to a city average of $722,262. Detached house prices grew by 5 percent on average; the average detached house was $934.969.
Milton region home prices slowed slightly from May to June, with sales dipping 11 percent; however, they still rose 17 percent year over year. Semi-detached and detached homes continued to see the largest month-over-month sales, up 3 percent, with a city-average price of $715,019 for semi-detached homes and $965,132 for detached homes.
As expected, real estate sales slowed slightly in July, except for semi-detached and condominium apartments, which showed year-over-year increases in average sale price. Condominium sales saw the largest month-over-month increase, up 3.98%, with an average sales price of $454,753.
Milton recorded 110 residential sales in August 2019, representing more than $87.9 million in total sales volume. The average sale price reached $799,320, while the median sale price was $752,500.
The month saw 108 new listings, and homes spent an average of 27 days on the market. The results show that prices remained relatively strong despite the seasonal slowdown typically experienced toward the end of summer.
The September report included a broader comparison of Milton’s recent housing activity. Sales were down 42%, while the average home price declined by 5% over the period examined in the original report.
These results reflected the slower conditions experienced after the spring market. They also show how much market performance can change depending on the property type and comparison period used.
September marked the end of the third quarter and established the baseline for the stronger fourth-quarter activity that followed.
Milton recorded 167 home sales in October 2019, producing more than $129.6 million in total sales volume. The average sale price was $776,394, while the median price reached $735,000.
The month saw 221 new listings and 198 active listings at month-end. Homes sold for an average of 99% of their listing price after spending approximately 18 days on the market.
These results marked a stronger start to the fourth quarter after slower conditions in summer and early fall.
Milton recorded 156 home sales in November 2019, with a total sales volume of more than $122.6 million. The average sale price increased to $786,395, while the median sale price reached $739,950.
The month saw 155 new listings and only 137 active listings at month-end. Homes sold for an average of 99% of their listing price after approximately 20 days on the market.
With sales slightly outpacing new listings and available inventory tightening, November contributed to the stronger fourth-quarter conditions recorded at the end of 2019.
Milton region home sales slowed considerably from November to December, with the average sales price only marginally higher and sales still down 12 percent year over year. The Town of Milton housing market heated up in the fourth quarter, with sales up 33 percent and average home price up 1 percent from the third quarter.
Milton’s 2019 real estate market did not move in a straight line. Sales and prices strengthened in spring, activity moderated over the summer, and conditions improved again in the fourth quarter.
May was one of the year’s strongest months, with the average price across all property types reaching $799,950 and sales rising 33% year over year. Semi-detached homes, townhomes and condominium apartments also recorded notable gains at different points in the year.
By the fourth quarter, sales had increased 33% from the third quarter, while the average home price rose by 1%. This stronger finish followed a slower summer and early-fall period.
Historical market statistics can provide valuable context, but they cannot determine what an individual property would sell for today. Its neighbourhood, condition, size, upgrades, lot and current competition can all affect its value.
If you are considering selling,
contact Flowers Team for a personalized assessment of your Milton home and the current real estate market.
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