If you've been watching the Oakville and Burlington housing market from the sidelines, the August numbers probably surprised you: prices are still lower than they were a year ago, yet homes aren't sitting any longer and well-priced listings are starting to draw multiple looks again.
Quick answer:
The Oakville and Burlington market is not booming, but it is tightening, falling new listings and shrinking inventory are quietly rebuilding competition even while average prices sit below last year's levels. For buyers and sellers in Halton Region, that combination changes the playbook, and it's worth understanding before you make your next move.
What Is the Oakville and Burlington Housing Market Doing Right Now?
In a word: balanced, but leaning tighter by the week. Across Halton Region, single-family homes averaged $1,405,216 in August, down 3.3% from a year earlier, while sales fell 10.7% year-over-year. Townhouses and condos averaged $753,375, down 10.8% year-over-year. In Oakville specifically, the single-family average sat near $1.71 million (detached homes averaged $1,787,896), while Burlington's single-family average was closer to $1.35 million. Blended across all property types, Oakville's average resale price came in around $1,324,472 and Burlington's around $1,020,937 both down roughly 5 to 6% from last August. On paper, that reads like a buyer's market. But look one layer deeper and the picture shifts.
Why Are Prices Down While Days on Market Barely Move?
Because inventory is shrinking faster than demand is. New listings across Halton dropped roughly 21% year-over-year for single-family homes and 28% for townhouses and condos, and that pullback is showing up in how quickly homes move. Average days on market held at 36 for single-family homes (barely up from 35 last August) and 41 for condos and townhouses. Burlington's condo and townhouse segment saw a slightly longer 48-day average. Most homes are still selling below asking about 81% of single-family homes and 88% of condos and townhouses closed under list price in August but "below asking" doesn't mean "sitting unsold." Sellers who price realistically from day one are still getting solid activity, and in some cases, multiple offers, because there simply isn't as much competing inventory as there was a year ago.
Which Price Ranges and Neighbourhoods Are Feeling It Most?
The gap is widest in the mid-range detached and condo segments, and narrowest in move-in-ready family homes in established Oakville neighbourhoods. Detached homes in areas like Glen Abbey, River Oaks, and West Oak Trails continue to attract steady interest from move-up buyers and relocating families, even with prices softer than last year, because school access and larger lots are hard to replace. Condo buyers have more leverage right now: Oakville condo apartments averaged $705,448 and Burlington condo apartments $514,550 in August, both down meaningfully year-over-year, which has opened a window for first-time buyers and downsizers who were priced out eighteen months ago. Bronte and Old Oakville continue to command a premium for walkability and waterfront proximity, while College Park and Falgarwood remain some of the more accessible entry points into Oakville for families watching their budget.
What Should Buyers and Sellers Watch For Heading Into Winter?
Watch new listings, not just prices. If new inventory keeps falling through October and November which is typical seasonally, but is currently falling faster than usual competition for well-located homes will keep building even if headline average prices stay soft. Buyers who find a property that checks their boxes shouldn't assume they have unlimited time to decide; with listings down double digits, hesitation is costing people homes again in select segments. Sellers should resist the urge to overprice just because "the market was higher a year ago" accurate pricing relative to today's reduced competition is what's generating multiple-offer outcomes, not aggressive list prices. At Martin Group, we're advising clients on both sides to move on solid opportunities rather than trying to time a market that's shifting month to month.
About The Author
As a top-ranked broker and co-founder of The Martin Group, Cory Martin delivers expert real estate guidance throughout Oakville, Burlington, and the Greater Toronto Area. His authoritative market standing is underscored by a career volume of over $310 million across 18 years, earning him recognition as the #3 agent in Oakville and #4 in Burlington with a 4.99 score on Rate My Agent, alongside a feature in Top Agent Magazine. Whether navigating complex purchases or luxury investments, Cory’s top 1% nationwide ranking reflects consistent market leadership.
The Bottom Line
Oakville and Burlington aren't in a straightforward buyer's market or seller's market right now; they're in a market where falling prices and tightening inventory are happening at the same time, which rewards buyers and sellers who act on good information rather than headlines. If you're trying to figure out what that means for your specific street, price range, or timeline, Martin Group has been reading these shifts in Halton Region for 25+ years and can walk you through exactly where your home or target neighbourhood stands today. Call us at (289) 778-3852 or visit themartingroup.ca to talk through your next step.
