Category: real estate market (2)

Sales Volume by Property Type

Milton Housing Inventory

Milton Rankings

out of 23 in Greater Toronto

Milton Real Estate Market PDF Report

About this Report

Milton Real estate market trends gives you a real-time look at the Milton housing market. We’ve made real estate data like average house prices, housing inventory, and days on market easily accessible to you. This report analyzes sales history between December 06 – January 03 and measures it against the same period last year. On top of all these real estate statistics is a ranking of every city in the Greater Toronto area based on their home sold price, price growth, days on market, and turnover. With all this content, you’ll be empowered with both a detailed view of the local Milton housing market and a glimpse of the metro area as a whole. All this data is intended to give you a thorough understanding of both the local Milton and the Greater Toronto area, so that in the end, you’ll be able to make a well-informed decision about where you’d like to live. As well, using other handy MLS stats like the MLS Home Price Index will give you more context on the housing market.

Numbers are based on firm contract dates, not when the transaction is reported or when the contract closes.

A contract is firm when both the home seller and buyer agree to the transaction, however this may not be reported in a timely fashion. Therefore, transaction reported dates are when the Realtor submits the sale to their local board. A contract is closed when the transaction actually occurs and the buyers move into the house. Normally, contracts close about 6-8 weeks after a contract is firm, which means the data you’re seeing is reported in real-time.

Data is reported in 4 or 8 week periods.

28 and 56 day periods are used because some months have more weekends than others. This ensures that each period has the same amount of days and weekends so that a like-for-like comparison can be made.

What does pro-rated data mean?

Based on historical reporting, it can take up to four weeks or more for transactions to be reported. This means that approximately 30% of home transactions that occured within this period have yet to be included in this report. Because of this, this period’s numbers are considered “pro-rated.”

Some Questions That The Buyer Should Be Aware of New Homes For Sale In Milton Ontario

When considering a real estate investment, the most important thought that occupies the investor’s mind is whether or not his property will appreciate. Markets can go either way and when they do, emotions run high. Real estate is one of the most expensive investments a person makes and hence, there is much thought put into the process. Market crashes can cause havoc. For buyers already in the market, this could be a loss of investments. For those who are yet to jump in, it could be an opportunity to buy. Good growth in the value of a home is an asset to the investment portfolio.

Here are five questions and answers the real estate investor would be interested in knowing –

1. Is the real estate market going to cool off?

The Office of the Superintendent of Financial Institutions (OSFI) is tasked with taking care of Canada’s risk profile in the financial services and insurance industries. As a risk manager who knows his job, the OSFI scrutinizes mortgage underwriting processes currently in practice in Canada. This requires stress-testing of banks and lenders. The idea is to understand how capable the country’s financial institutions are to withstand a market crash. It is part of this initiative that got the banking regulator to ask some financial institutions to stress-test a 50% price decline in Vancouver market, 40% in house prices in the Greater Toronto area and 30% in the rest of Canada.

It is no indicator of times to come.

2. Are the country’s hottest real estate markets overvalued?

The Canada and Mortgage Housing Corporation’s Housing Market Assessment Survey, 15 housing markets in the country are currently overvalued.

The areas they included are Calgary, Toronto, Vancouver, Saskatoon, etc. However, the real estate prices are localized. Hence even if there is a possibility of 60% correction, it wouldn’t be uniform across the country.

3. Will the new foreign buyer’s tax affect you?

A Canadian House task force created by the government and comprising of all three levels of government was tasked with assessing the country’s real estate market. They will suggest policies and actions to take to stabilize and make the market affordable. A 15% foreign buyer’s tax in Metro Vancouver was the result of this committee suggestion. This should possibly not bother you if you are looking for new homes for sale in Milton Ontario.

4. Are you a buyer looking to buy a home in Milton Ontario? Or maybe sell?

Buying a home may be part of a larger financial plan. There could be other pressing needs associated with it. Hence, it is suggested not to wait for any market correction. This could also mean that there could be a drop after you have purchased. You should be able to stomach the decline in price. Prepare to pay at least 20% of the mortgage as down payment.