PHOTOS: Most expensive homes in Oakville, Burlington, Milton being driven by lack of inventory


Published January 20, 2022 at 2:15 pm

Competition is stiff out there for buyers. Today’s extremely low inventory levels are constraining the number of sales taking place in Oakville, Burlington, Milton and Halton Hills.

Nearly all new listings are selling within the month they’ve been listed, and older inventory is selling too, greatly reducing the total months of inventory on the marketplace and overall limiting how many sales can take place.

These tight inventory conditions are contributing to creating a very competitive marketplace for buyers with strong price appreciation.

Halton Region has one of the highest price points of any GTA market, with an average price tag of $1,343,098, an increase of 23 per cent. With only 439 new listings, down eight per cent, coming to market last month, and 490 sales, down 16 per cent, conditions have become extremely competitive for buyers.

The average detached home in Halton topped a new record last month with an average price of $1,810,446 (+27 per cent) and 230 homes trading hands (-25 per cent). The detached segment is overwhelmingly the most popular housing type on the market.

Other housing types like condo apartment, condo town, and semi-detached had 81 (+3 per cent), 63 (-24 per cent), and 23 (+21 per cent) sales and an average price of $699,100 (+10 per cent), $841,779 (+34 per cent), and $1,180,807 (+34 per cent), respectively.

Most Expensive
3440 Lakeshore Rd., Burlington

This lakefront estate-style property ended up being a bargain at $5,900,000, after being listed for $6.8M for two months. Nearly 5,000 sq.-ft. of living space with a walkout from the two-storey great room to a terrace, five bedrooms and 4.5 baths.

Photo courtesy of Royal LePage

96 Brentwood Rd., Oakville

This gorgeous home located south of Lakeshore Rd. sold almost immediately for more than the asking price, going for $5,600,000. All the extras, including two-storey dining area that overlooks rear courtyard, vaulted ceilings, twso-sided fireplace.

Photo courtesy of Century 21 Miller Real Estate Ltd.

2213 Ninth Line, Oakville

Sitting on almost 2.5 acres, this fantastic investment opportunity sold for $4,800,000. The five-level backsplit is suitable for large families and has easy access to major highways.

Photo courtesy of Royal LePage Realty

390 Willis Dr., Oakville

The brand new custom home in west Oakville sold for $4,373,000. Limestone construction, finished basement, two furnaces, two ACs and radiant in-floor heating in basement.

Photo courtesy of Century 21 Miller Real Estate Ltd.

1376 Willowdown Rd., Oakville

Just a five minute walk from the lake in south Oakville, this 6,000 sq.-ft. home sold for $4,100,000. Backing onto parkland, the house has 20-foot vaulted ceilings, open-concept gourmet kitchen and new, heated, in-ground pool.

Photo courtesy of Royal LePage Real Estate Services Loretta Phinney

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