HALTON MARKET UPDATE – HOW DID THE PANDEMIC AFFECT OAKVILLE AND BURLINGTON SALES AND HOME PRICES IN MAY 2020?

With the COVID-19 pandemic outbreak that affected the whole world, the real estate market, just like many other industries, experienced a slowdown in the past three months with sales plummeting to record lows. With social distancing rules in place and many businesses restricted to operate, most homebuyers and sellers decided to delay their buying/selling process and wait for a better time. However, as the restrictions against the COVID-19 spread are being gradually lifted, we are starting to see more homebuyers and sellers getting back on the market. It will probably be a long way for the market to get back where it was before the pandemic, but it is good news that Burlington and Oakville buyers and sellers are slowly re-entering the market. Let’s take a closer look at the stats for a better insight into what is happening in the Burlington and Oakville market.

Sales and new listings dropped 
After sales went down by approximately 60% in April in Burlington, Oakville and the rest of the GTA (but not home prices), the market seemed to have picked up a bit in May as there was an increase over 30% for both, sales and new listings on a month-over-month basis, but it is still roughly half the number of transactions we saw in May 2019.

Prices went up in Burlington and Oakville 
While the number of new listings and sales in April and May dropped significantly on a year-over-year basis, the prices in the Halton region remained more or less steady, whereby Burlington and Oakville (just like many high-in-demand communities) saw even a price increase despite slower market activity. This should not come as a surprise given that sellers, just as buyers, faced less competition, so the supply and demand ratio was not necessarily disrupted.

The market changed significantly year-over-year

Looking at the data, new listings for the Halton Region dropped by 55% year-over-year and the number of sales by 51%, while the average price grew by 7.8%.

Similarly, Burlington’s new listings dropped by approximately 49% year-over-year and sales by 45%, but the average price increased by almost 20% compared to May 2019, which is far above the region’s average.
As for Oakville, new listings went down by 58%, and sales by 59%, whereas the average price climbed by almost 11%.  

Detached homes in Burlington have reached an average price over $1 million, while last year it stood at $970,718. In Oakville, the average price for Detached went up by 6%, which only indicates that single-family homes in these two communities are the most popular choice for homebuyers. While some GTA neighbourhoods have experienced a price drop by even 30% in the last three months, Burlington and Oakville remain high in demand due to their great location great infrastructure, and beautiful properties.  Click here to find listings in Burlington and Oakville, and for any additional information contact us here.

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When it comes to new subdivisions, we give up the mature neighbourhood feel we get in places where trees stretch out and form a green canopy over the street. We exchange this for the convenience of a newly built home in the suburbs with our choice of lot and floor plan, no repairs, and the thrill of being part of a growing community.


However, we frequently overlook the fact that even the most established neighbourhoods today were once brand new. Therefore, we must start like all the older generations and plant trees for our new homes!



So, What Can We Do?

The first step in creating or rebuilding a green canopy is to plant trees where possible on individual lots. It does take time, but not nearly as much time as you might think.


Aside from planting trees, landscaping your yard will help it look more established and comfortable. This will give your garden form and structure, as well as frame the front of your house, and they'll add beauty now and, in the years, to follow. There is an old saying, “the person who plants a tree knowing they will not see its maturity, understands the meaning of life."



Important Tip:

Plant in the fall. Most garden centres cut prices in the fall. You can either save money or get a much more mature tree for the same money. Really a win/win/win. For you, your neighbours, and the planet.


So, let's start planting trees in our newer neighbourhoods! This will not only help the environment, but it will also reward you when it is time to sell!



Contact The Martin Group today for more information, or to find you the right home with beautiful and plentiful trees.

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The third-best sales record in TRREB's history was recorded in August 2021. Though the market has seen its normal summer lull, the need for owning homes is evident. Simultaneously, the availability of housing is on the decline. Competition among home buyers has been increasing in this tight market, resulting in double-digit yearly price hikes.

 


COMPARISON OF RESIDENTIAL STATS FOR AUG 2021 AND 2020 - 

ALL TRREB LISTINGS

 

 

Stats retrieved from TRREB

 

 

As shown in the graph above, according to TRREB's MLS System, Toronto real estate agents in the Greater Toronto Area saw a 19.9% drop in home sales in August 2021 compared to the previous year's record of 10,738, and new listings filed in the system were down 43 percent compared to the previous year's record of 18,599. Despite the decline, the average selling price continues to rise with a 12.6% increase.

 

This year's low number of new postings is really troubling. It implies that there is an undersupply of housing, and this will worsen when immigration to Canada increases. With the approaching federal election in mind, the federal parties have all put a focus on housing availability and affordability. 

 

If we take a further look into The Halton Region, more specifically Burlington and Oakville, you will see that there has also been a tremendous decrease in the number of sales and new listings.

  

 

 

YEAR-OVER-YEAR DATA FOR HALTON REGION, BURLINGTON AND OAKVILLE

 

 

 

Stats retrieved from TRREB

 

 

On average, a property in Halton Region costs $1,070,911, up by 3.8 percent according to the most recent MLS data. While the number of sales dropped by 27.5 percent, there was also a 41.7 percent reduction in new listings.

 

In all three locations, it's clear that now is a great time to sell your home. As a buyer, however, it appears to be considerably more difficult due to a slowdown in new listings and an increase in home values.

 

 

Let's take a closer look at how particular property types compare in Burlington and Oakville.

 



COMPARISON OF MARKET STATS FOR AUG 2021 AND 2020: 

OAKVILLE AND BURLINGTON

 

 

 

Stats retrieved from TRREB

 


The average price for all property types in Burlington and Oakville has risen. Prices increased by 3.8 percent in the Halton Region alone for all property types. The average price for detached homes in all of the Halton Region increased by 20.8 percent as a result of their popularity. The increasing popularity of detached and semi-detached homes in Oakville and Burlington was reflected in their 21.5% and 19% growth, respectively.

 

Although the number of sales and listings have declined in Oakville and Burlington, these cities remain popular in the GTA, where home demand continues to rise.

 

Click here to look at property listings in Burlington and Oakville!

 

The Martin Group is the go-to brokerage firm if you have any queries regarding the GTA or Halton Region real estate market, whether you're a property buyer or seller. We're here to help with everything you may need.

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It’s that time of year again, schools in session! The kids are all getting pumped up in hopes of a better school year than the previous year. As we all know, the pandemic wreaked havoc on children's ability to obtain a proper education, resulting in school closures that forced them to study everything online rather than in person. So what is the 2021/2022 school year going to look like in Oakville and Burlington?

 


The Reopening Plan for the Halton School Board

The Halton District School Board states that students and staff will be back in secure and productive learning environments by September 2021. They pledge to maintain an inclusive, safe, and discrimination-free environment.

 

The Reopening School Guide for September 2021 covers five areas: health and family, operations, instruction, wellness and technology. It is essential to understand that things may change. 

 


Health and family

  • Student Self-Assessment and Screening
  • Personal Hygiene
  • Physical Distance
  • Masks, including cloth masks and face coverings
  • Enhanced Care Cleaning Procedures
  • Environment and Air Flow Fountains for Drinking
  • Student Learning Communities
  • Potential student with COVID-19 prior to entering school
  • Potential student with COVID-19 at School
  • Personal protective equipment used by staff members

 

Operations

They've put out a daily operational plan for a school's involvement in ensuring the safe reopening.

 

  • Family responsibilities
  • Student belongings
  • The school’s outdoor play structures facilitate entrance and exit points
  • School hours and student access
  • Lunch and food items
  • Academic Calendar
  • Before and after-school programs, early childhood educational programs
  • On-the-spot crisis resolution

 

Instruction

The School Board will implement the Ministry of Education's new approach by creating a few days dedicated to face-to-face education in methods that are both engaging and student-centered.

 


Wellness

Staff members will need to focus on helping kids become reacquainted with one another and rebuild a solid pattern of support as they return to school after being away for some time. Guidance counsellors, social workers, and other school-based support staff will provide all the assistance that students need.

 


Technology

We will provide students' support through a program geared for those studying through Distance Learning.

 


The details mentioned are the Halton District School Board's intention to reopen. Their website provides access to further data, and you can also contact your children's schools for more information. 

 

We've all been swept into a new educational and cultural reality with the recent COVID-19 pandemic. Working together, we can minimize the problems faced by our kids as school begins again.


 

 

Top Schools in Burlington and Oakville

Some of the best high-ranked public and Catholic schools are outlined below for elementary and secondary students.



 

 

Are you looking for a home in Burlington or Oakville, click here to view our active listings!

 

 

Contact Glenn Martin today if you have any inquiries about real estate or the schools in the local area.

 

 

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