Milton Real Estate Watch | November 2021
Milton Real Estate Watch for November 2021
According to TREB " Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA)."
This also rings true for the Milton area. For the month of November the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately 13 per cent compared to October 2021.
The average sales prices across all property types increased 3 per cent over October, and the annual rate of average price growth was up over 24 per cent.
Click the link below to check out the full breakdown of what happened in Milton real estate market for November 2021.
To download the full breakdown for November 2021
CLICK HERE
Whether you are considering selling, refinancing or just staying put in your home, now is the time to get a home evaluation! CLICK HERE to set up a FREE home evaluation to find out how much your home is worth in today’s market.
Sales to new listing ratio
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. These factors can influence whether we are it is a buyer’s market or a seller’s market .
A buyer’s market exists when there are significantly more homes for sale than there are buyers. The typical end results in a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller’s market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
Looking to buy? Have a look at current listings . Questions about the November 2021 Market Data? Reach out to us at homes@flowersteam.ca .
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