Halton Hills hit by 25% drop in house prices, Milton prices also keep falling
Published November 3, 2022 at 4:49 pm
New data from the Toronto Regional Real Estate Board shows the average cost of purchasing a home in Milton and Halton Hills is continuing on a downward path.
As of October of this year, the average cost of a Milton home is $1.03 million, down by $136,378 from this time last year. It is a drop of 11.7 per cent. Since September prices have fallen $29,116, a drop of 2.7 per cent.
The same pattern can be seen in Halton Hills, but with even greater losses.
Last year at this time that average price of a home in Halton Hills was $1,293,346. That number is now below $1 million and sits at $966,031, a drop of 25.3 per cent. From just September of this year to October the prices have fallen 15.2 per cent for a loss of $173,734.
Further data shows that in Milton, sales of homes were down by 52.6 per cent in the last year. In Halton Hills that number is virtually the same at 52.4 per cent during that one year period.
By comparison, other locations in Halton Region are also seeing declines in the cost of homes.
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The average home in Burlington now sits at $1,130,048 which is down from $1,235,596 in October, 2021. In Oakville the current average price is $1,487,435, down from $1,645,715 a year ago.
According to real estate website and brokerage Zoocasa, that average price of a home in Halton Region is $1,223,189.
“Much like other regions in the GTA, buyers in Halton are looking for detached homes, with 257 total sales, but townhouses and
condo apartments are also still in demand, with 74 sales for each property type,” Zoocasa says.
Specific breakdowns for many of the municipalities that surround Toronto can be found through Toronto Regional Real Estate Board Market Watch page.
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