As we kick off 2025, the real estate market in Burlington and Oakville is experiencing a slower-than-usual start. Both sales and buyer demand are down, yet the inventory levels remain high, leaving the market in a state of imbalance. While home prices are still reasonable, we are seeing the impact of high inventory on the time it takes for homes to sell. The reality is, if inventory levels continue to rise, we may see days on the market increase significantly.
If you’re considering listing your property in the coming months, it’s important to price your home fairly—perhaps even more aggressively than usual—to attract more potential buyers. A competitive price can help your listing stand out and generate the necessary activity in a market where buyers are hesitant. The market needs more buyers to absorb the growing inventory, and as we move into spring, we can expect more listings to hit the market alongside a gradual increase in buyer activity.
Burlington Real Estate Update
Detached Homes
Average Price: $1,539,695 (+9% vs. last month)
Sales: Down 8% vs. last month
New Listings: Up 160% vs. last month
Townhouses
Average Price: $899,944 (+9% vs. last month)
Sales: Down 30% vs. last month
New Listings: Up 216% vs. last month
Condos
Average Price: $663,205 (+13% vs. last month)
Sales: Up 14% vs. last month
New Listings: Up 208% vs. last month
Oakville Real Estate Update
Detached Homes
Average Price: $1,860,872 (-12% vs. last month)
Sales: Down 13% vs. last month
New Listings: Up 291% vs. last month
Townhouses
Average Price: $1,120,529 (-3% vs. last month)
Sales: Down 22% vs. last month
New Listings: Up 204% vs. last month
Condos
Average Price: $779,386 (+17% vs. last month)
Sales: Down 18% vs. last month
New Listings: Up 152% vs. last month
What's Next For The Market?
The coming months are likely to see a continuation of high inventory levels, with more listings expected to hit the market. As buyer activity picks up, we may see these properties start to move more quickly, especially if sellers adjust their pricing strategies to be more competitive.
For buyers, it’s an ideal time to be patient and take advantage of a wide range of options, but it’s crucial to remain diligent and not rush into a decision. For sellers, pricing your home aggressively—without overpricing—is key to standing out in this competitive market.
In summary, the real estate markets in both Burlington and Oakville are navigating a complex landscape at the start of 2025. More listings and higher inventory levels will likely lead to increased competition, longer days on market, and potential price adjustments in the coming months. Buyers and sellers alike should keep an eye on market trends and adjust their strategies accordingly to make the most of the evolving market dynamics.
Stay tuned for more updates as we move through the year!
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