2021 Milton Real Estate Recap

The December numbers are in, and what a year we had in Milton Real Estate!

Our average price across all home types for the year was $1,072,281,
an almost 25% increase over 2020 home prices. Nothing short of remarkable. In 2020 we had a 15% increase over 2019, and before that, we had not seen a double-digit price increase in Milton since 2017.
We ended up with 2924 sales which were the most sales we have ever seen in a single year.

Here’s a look at the 5-year numbers.

Now you may be asking yourself, everyone has said inventory is so low there are no homes for sale, so how could we have had the highest amount of homes sold if the inventory was low?

In fact, our number of Listings was 3,774, which was actually up from last year. You’ve been hearing that there’s an inventory issue that causes you to believe that there were fewer homes for sale when in fact, we had the most homes listed in a single year since 2018 in Milton.

The lack of inventory is a byproduct of such high demand; homes have been selling very quickly. Our days on market average was only 9 for 2021, and in December, our months of inventory was less than 1, and we hovered around 1-2 months the entire year. There is not enough supply to fulfill the demand.

Most homes coming up for sale saw multiple offers, and our average sale price to list price ratio, which is how much more or less a home sells for compared to its listing price, averaged 106.6%, which means that buyers, on average we’re paying 6.6% more than the listing price.

Of course, in 2021, we saw a similar pricing strategy to what we had seen rampant in 2020, which was an artificially low list price.

Our team is so thankful that we were able to help 81 amazing folks with their real estate needs last year, and for that, we are so grateful. We were able to help our clients be successful because we had to position them ahead of the market in terms of offering strategy. If you want to learn more about working with us and our approach for buying or selling homes, you can click the link here and book a one-to-one consultation, fast and easy.

We also saw many people moving to Milton from Toronto in 2021. Last year, one of our most popular videos was a video made back in October 2020 about this exact migration.

It used to be you could get a lot more bang for your buck, so to speak, moving to Milton from Toronto. That is why we moved here from Toronto 18 years ago. Nowadays, though, it’s not as dramatic a spread on price, but you still end up in a newer home with more space than living in the city. I will link a video here for more reasons why Milton is a great place to live.

2021 was undoubtedly one for the books. What will we see in 2022?

Our 2022 predictions are coming out next week, and you won’t want to miss it.

As always, thank you for being here. What do you want to see from us in 2022? Let us know; comment below. We love to hear from you!