Milton Real Estate Unveiled: A Data-Driven Look at Sales & Investment Opportunities
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Milton, Ontario, has emerged as a real estate hotspot in recent years, attracting young families, professionals, and investors alike. But is it the right place for you to plant your roots or capitalize on investment returns? Let's delve into the data and unveil what the Milton real estate market holds.
Analyzing the Market through Numbers
1️⃣ Median Sale Price: As of November 2023, the median sale price for detached homes in Milton sits at $1,245,000, a 5.8% increase year-over-year (YoY). This signifies steady growth, outpacing the national average.
Source: Milton Real Estate Board
2️⃣ Sales Volume: Compared to 2022, the number of homes sold in Milton has decreased slightly. However, the average number of days a home spends on the market before selling (average days on market - DOM) has dropped from 21 days to 17 days, indicating strong buyer demand.
3️⃣ New Listings: New listings have seen a significant increase in 2023 compared to the previous year, suggesting builder confidence and a healthy supply pipeline.
Population Facts in Milton:
Population Growth:
- Since 2016: 20.7% increase
- Projected by 2031: 235,000 additional residents
Visible Minorities:
- 2016 Census: Over 44% of residents
- Growth Rate: 2x the national average
Investment Potential: Weighing the Scales
➀ Rental Market: Milton boasts a thriving rental market, with vacancy rates hovering around 2%. This translates to potentially high rental income for investors.
➁ Future Growth: Milton's strategic location near major highways and planned infrastructure projects like the Milton GO station expansion points towards continued economic and population growth, likely impacting property values positively.
➂ Diversification: Compared to Toronto, Milton offers a wider range of housing options at relatively lower prices, providing diversification opportunities for investors looking beyond the core urban market.
Source: Calgary Real Estate Board (CREB)
Notable Amenities on Pipeline in Milton:
1️⃣ Trafalgar Corridor:
One of the last greenfield development opportunities in the GTA, along a major highway.
Mixed-use development with residential, office, and retail spaces, creating 19,000 jobs and accommodating 32,000 residents.
A second GO Transit station planned for the Agerton area, fostering further growth and connectivity.
2️⃣ Britannia Secondary Plan: ️
Revitalizing the Britannia area with new housing options, parks, and community amenities.
Preserving the area's heritage character while creating a vibrant and modern community.
3️⃣ CN Logistics Hub:
A major transportation and logistics center, attracting businesses and creating jobs.
Boosting Milton's economy and solidifying its position as a key player in the GTA's transportation network.
4️⃣ Education Village Secondary Plan:
Expanding educational opportunities with a new high school, elementary school, and community facilities.
Meeting the needs of Milton's growing population and providing top-notch educational options for residents.
Upcoming Projects in Milton:
Milton Condos is an upcoming condominium project developed by Fieldgate Construction Management Ltd., slated for the address 7480 Derry Road in Milton.
Orianna Glen, a pre-construction endeavor crafted by Argo Development Corp in Milton, is an eagerly anticipated project with upcoming status.
3️⃣Panorama Towns by Andrin Homes
Panorama is an upcoming townhouse and single-family home community developed by Andrin Homes, presently in the preconstruction phase at Steeles Avenue West & Peru Road, Milton. Anticipate the arrival of singles and towns adjacent to the escarpment.
Connectt Condos - Building C is an upcoming condominium community developed by Lindvest, currently in the preconstruction stage at 2230 Derry Road West in Milton.
5️⃣ Elements Condo & Townhouse
Elements, an upcoming condominium and townhouse community by Trinity Point Developments, is currently in the preconstruction phase at the intersection of Bronte Street South and Britannia Road in Milton.
Conclusion:
Milton's real estate market presents a compelling blend of steady growth, strong rental demand, and promising future prospects. For buyers seeking a vibrant community with access to amenities and job opportunities, Milton offers an attractive alternative to pricier urban centers. Investors, meanwhile, can leverage the diverse housing options, healthy rental market, and anticipated infrastructure developments for potentially lucrative returns.
Source:
Milton MLS®: https://www.realtor.ca/on/milton/real-estate
Canadian Real Estate Association (CREA): https://www.crea.ca/housing-market-stats/canadian-housing-market-stats/
Government of Ontario: https://www.ontario.ca/
Re/Max Milton Market Update: https://blog.remax.ca/canadian-real-estate-outlook/
Dolphy : https://dolphy.ca
Disclaimer: The content above is a compilation from diverse reliable online sources, including blogs and news articles. The Dolphy content team does not ensure the factual accuracy of the information. The provided information may be outdated, and it should not be considered as advice or a recommendation. It is advisable to consult with a licensed real estate agent or broker for accurate advice and recommendations.
