The Oakville, Milton and District Real Estate Board

The number of homes sold through the MLS® System of the Oakville-Milton and District Real Estate Board totaled 319 units in March 2025. This was a substantial reduction of 48.6% from March 2024.

Home sales were 61.3% below the five-year average and 63.2% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 886 units over the first three months of the year. This was a sharp decrease of 43.7% from the same period in 2024.

“In March there was a lot of uncertainty surrounding what tariffs would come into play and which ones would be further delayed or abandoned altogether, leading to a significant buyer pullback that was reflected in muted sales activity,” said Ken Mazurek, President of the Oakville-Milton and District Real Estate Board. “With significant exposure to automotive exports to the U.S. our local economy will no doubt be impacted by the 25 percent tariffs on non-CUSMA compliant vehicles and auto parts. The extent to which this affects our housing market remains to be seen, but it is likely that buyers may continue to wait on the sidelines until the fallout becomes more evident.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $1,215,200 in March 2025, a decline of 6.6% compared to March 2024.

The benchmark price for single-family homes was $1,461,100, down by 5.3% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $862,400, a minor decrease of 3.8% compared to a year earlier, while the benchmark apartment price was $626,000, a small reduction of 3.8% from year-ago levels.

The average price of homes sold in March 2025 was $1,225,724, down by 7.6% from March 2024.

The more comprehensive year-to-date average price was $1,230,101, a decrease of 5.8% from the first three months of 2024.

The dollar value of all home sales in March 2025 was $391 million, a big decline of 52.5% from the same month in 2024.

The number of new listings was up by 15.1% from March 2024. There were 1,343 new residential listings in March 2025.

New listings were 9% below the five-year average and 10.7% below the 10-year average for the month of March.

Active residential listings numbered 2,305 units on the market at the end of March, an advance of 47.4% from the end of March 2024. Active listings haven’t been this high in the month of March in more than a decade.

Active listings were 59.1% above the five-year average and 45.4% above the 10-year average for the month of March.

Months of inventory numbered 7.2 at the end of March 2025, up from the 2.5 months recorded at the end of March 2024 and above the long-run average of 2.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.