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 Post subject: Milton Housing Market
PostPosted: Tue Jul 09, 2019 8:16 am 
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Joined: Tue Jul 09, 2019 8:11 am
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Good morning everyone,
Looking for some direction and advice on this forum, Couple of years ago I have moved out of Milton because of my work. Now I am trying to sell my property, I remember back in 2017 when I moved the market was really hot. Right now I am getting mixed news because of even stricter stress test got implemented and ppl are not able to get mortgages. Anyway long story short.
How is the housing market in Milton for big to medium size houses? Mine falls under 1 mil category so I would like to know what should I expect.


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PostPosted: Wed Jul 10, 2019 1:52 pm 
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i think you'll fall under the 1mil category


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PostPosted: Thu Jul 11, 2019 8:36 am 
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Ours remains in the under 1 mil category too, unsurprisingly.

If you are asking whether you will sell now for more than you paid in 2017 I would say you should not expect that. Just a hunch. At the very least we remain in an affordability crisis invented gradually and voluntarily by us all, and we will have to come to terms with that. I wouldn't rail much against the B20 either btw, that really isn't what has done this. Trying to sell something that fewer and fewer households can actually afford is the issue. It is debatable as to how much of a bubble we're in here, but have a looky-loo at Vancouver's shit-show for a bit of context, they're ahead of us by about 12-18 months I believe. Our MPAC assessments should become fascinating by now. Just a hunch.

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PostPosted: Fri Jul 12, 2019 6:36 am 
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Considering a new condo in Milton is over 500K for a 2 bedroom I can't imagine any detached is actually worth less than 1 million at this point

Also there is a pro / con side to what B&T is discussing above
It is true Vancouver house prices have plummeted but they were seriously overvalued in first place (and its not like Vancouver is cheap now by any stretch of imagination)
But as positive for you, Oakville (our direct neighbor) now has the highest housing prices in all of Canada (which I think is helping our local market value in comparison to other areas)

Locally sales were up another 10% last month and inventory levels remain low so its not a terrible time to sell

The stress test is pretty much irrelevant to most of us (BFS and HELOC are the real casualties)

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