July 7, 2023 | Market Reports

Local Housing Market Update For June 2023

June had an impressive 19% growth in sales volume compared to last year, indicating continued resilience and demand in our local real estate market.

In June, there was a welcome rise in new listings which helped to slightly improve inventory levels in a positive way.

With the BoC’s interest rate increase of .25%, it’ll be interesting to see how the market responds. To read more about the rate announcement, click here.

Burlington

In June, Burlington saw a decrease of 8.7% from June 2022 with an average sale price of $1.15 million. Homes in Burlington are staying on the market for an average of 16 days.

Oakville

The average sale price of homes in Oakville for June 2023 was $1.67 million which is a 12% price increase from June 2022. These properties in Oakville are staying on the market for an average of 17 days before selling.

Hamilton

Hamilton’s housing market saw a 3.5% decrease compared to June 2022 with an average sale price of $829,366. These homes are staying on the market for about 19 days.

Here’s a breakdown of the freehold and condo statistics for Burlington, Oakville and Hamilton in June 2023: