REDVERS REPORT: December Market Update

Jan 3

All data is sourced from Altus Data Studio. Readers should verify information before making real estate decisions. All Information is gathered from the markets of Oakville, Burlington, Mississauga, Milton, and Brampton.

December 2024 revealed mixed trends in the commercial real estate markets of Oakville, Burlington, Mississauga, Milton, and Brampton compared to the previous year. While transaction volume decreased year-over-year (YoY), there was a noticeable increase in activity compared to November 2024. Key insights include:

Overall Activity: Transactions rose from 28 in November to 39 in December, a 39.29% increase. However, YoY comparisons showed a 36.07% decline.
Oakville: Transaction volume increased by 50% compared to November, with notable activity in residential land.
Burlington: Transaction volume increased slightly month-over-month but remained significantly lower YoY, with industrial activity leading.
Mississauga: ICI land showed extraordinary YoY price growth of over 1000%, despite declines in most other asset types.
Milton: Limited activity, with only one transaction recorded in December for residential land.
Brampton: Retail transactions surged by 125% month-over-month, while other asset types experienced declines.

Oakville

Oakville saw a 50% increase in transaction volume from November, driven primarily by residential land, which accounted for four transactions with an average selling price of $2.65M. However, YoY comparisons highlighted declines across most asset types, including industrial and office properties, which saw no activity. Industrial prices per square foot dropped by 28.22%, suggesting reduced demand for existing spaces.

Oakville saw 4 transactions last month compared to 6 this month.

Burlington

Burlington experienced modest improvement from November, with three transactions, up from one. Industrial activity led the market, though the average selling price dropped by 80.24% YoY. Residential land also saw some activity, with two transactions averaging $1.34M, indicating selective investment interest despite broader market challenges.

Burlington saw 1 transaction last month compared to 3 this month.

Mississauga

Mississauga had a mixed month, with transaction volume up 18.18% from November but down 51.85% YoY. ICI land was the standout segment, with a single transaction driving a 1000.61% increase in average selling price to $92M. Industrial and office spaces saw declines in both transactions and average prices, indicating shifting demand priorities.

Mississauga saw 11 transactions last month compared to 13 this month.

Milton

Milton remained quiet in December, with just one recorded transaction for residential land at $1.6M. This marked a continuation of subdued activity, consistent with recent months, as other asset types saw no transactions. The lack of broader market engagement reflects investor caution or limited inventory.

Milton stayed consistent with 1 transaction in back to back months.

Brampton

Brampton had a strong showing in retail transactions, which surged by 125% month-over-month to nine deals, with a modest 6.61% increase in average selling price. However, other segments saw declines, including industrial and ICI land. Total average sales volume dropped 53.38% YoY, driven by lower industrial sales and limited high-value transactions.

Brampton saw 11 transactions in November compared to 16 this December.