Why is buying or selling a home in the GTA so tough right now?
The Greater Toronto Area (GTA) is a bustling real estate market, and navigating it can be overwhelming. Understanding local taxes, pricing trends, and market dynamics is crucial for anyone buying or selling a home.
How to understand the 2025 GTA real estate market (with latest stats and trends)
Home prices in Burlington have soared by 10.5% from September 2023 to September 2024, with the average price of a house reaching $1.16 million. Over the past decade, prices skyrocketed by 109%. Such trends show the dynamic nature of the Burlington market, where single-family detached homes, priced on average at $1.55 million, dominate sales.
Burlington Property Tax Breakdown:
- Municipal Tax Rate: Varies by location. Burlington‘s final rate for 2024: 0.918153%.
- Education Tax: Uniform across Ontario: 0.153%.
Step-by-step: Financing your home in Ontario
To buy in Burlington, first understand property taxes impacting purchasing power. Use a calculator to see your assessed value through MPAC.
Finding the right property or buyer in Burlington
Prices differ across property types: Detached homes average $1.55M, condos $675K. Market your home considering these benchmarks to attract suitable buyers quickly.
Legal steps and paperwork (what to expect)
Contact your local property tax department with queries at 905-335-7777 or city@burlington.ca.
Moving tips for GTA home buyers and sellers
Plan ahead, budget for expenses like municipal taxes, and understand your home’s assessed value versus market price.
Expert advice: Local agent and mortgage broker insights
Expert Tony Sousa (tony@sousasells.ca | 416-477-2620 | www.sousasells.ca) suggests: “Understanding property taxes can help make informed buying or selling decisions and optimize real estate investments.”
Frequently Asked Questions
- How do I find a top real estate agent in Guelph? Start with local recommendations, check credentials, and read reviews.
- What’s the average home price in Oakville? As of the latest reports, it stands at approximately $1.7 million.
- How can I sell my house fast in Burlington? Set a competitive price and highlight unique features tuned to local buyer interests.
Leverage these insights for your 2025 real estate journey—a crucial step in mastering GTA’s competitive market.
