Market Overview: Oakville is typically considered one of the premier cities within the Greater Toronto Area (GTA) for Luxury Homes. Many of the Luxury Homes are in South Oakville’s Morrison, Old Oakville and Bronte communities. All of these communities offer proximity to Lake Ontario with its picturesque waterfront views, lush parks, and a charming downtown area. The luxury market here ranges from grand estate homes to custom-built luxury waterfront properties. The demand for luxury homes in Oakville is strong, being historically driven by both local and international buyers.
Market Trends: The Oakville luxury market can also be very competitive, with prime properties often attracting multiple offers. But like any other real estate market, it experiences cycles based on broader economic conditions, interest rates, and international trends. Recently, the growing demand for homes extends towards properties with larger spaces indoor and outdoor spaces in response post-pandemic preferences.
Market Overview: Burlington, while slightly smaller than Oakville and a little further west of the GTA, similarly offers a high quality of life due to its beautiful waterfront, parks and vibrant south downtown core. The luxury market in Burlington has grown most recently due to an increase in renovation of grand estate homes and the custom development of high-end homes, especially near the waterfront and in upscale neighborhoods like Roseland and parts of Aldershot. Burlington's Luxury Homes are praised for their architectural diversity, blending traditional and contemporary styles and incorporating the nature of Lake Ontario and views of the Niagara Escarpment.
Market Trends: The luxury market in Burlington has been expanding over the years, in part due to its relative affordability when compared to Toronto and Oakville; however, this differential is diminishing as the demand increases, especially for unique properties that are near golf courses or waterfront trails, or those that have private docks for a boating enthusiast.