Real estate prices, including in Halton Hills, rebound in March

Ontario home prices rebounded slightly in March, figures released by the Canadian Real Estate Association Friday show.

Prices stabilized in February, ending a five-month fall that began last summer. 

On a year-over-year basis, the average single-family home in the province sold for $951,900 in March, up 1.9 per cent from the average of $934,300 they sold for in March of 2023.

The numbers are seasonally adjusted and do not take inflation into account.

Inflation, depending on what measure you choose, is running at between 3.4 and 3.7 per cent. 

National data showed a bounce in new supply roughly in the second week of March.

“We’ll have to wait for the April data to really understand how buyers are responding to all these new properties for sale, but if you look at last spring as a guide and add to that record population growth in the last year and a central bank that is far more likely to cut this summer than raise like it did last year, it could get interesting,” said Shaun Cathcart, CREA’s Senior Economist. 

Within Ontario, sales in the north continued to show much stronger growth than those elsewhere in the province — single-family homes in the Soo were up 8.3 per cent, for example.

Locally in the Oakville-Milton area (which includes Halton Hills) in March, single-family house prices were up 0.8 per cent, condos were essentially unchanged, and townhouses were up 2.7 per cent compared to March of 2023, using seasonally adjusted numbers unadjusted for inflation. 

Use the interactive below to explore your region.