fbpx
Real Estate

Hamilton real estate in great spot: fewer listings and more home sales

More and more people are beginning to recognize the beauty and potential of Hamilton. Our city’s food and drink sector is always expanding, and features countless unique, delicious restaurants and bars.

If there wasn’t enough evidence pointing towards the rapid growth of Hamilton, recent data from the Realtors Association of Hamilton-Burlington has proved that Hamilton is the place to be.

Home sales in October in the Hamilton-Burlington-Grimsby area totalled 1,145. Not only is this a 6.4 percent increase from October 2018, but also reflects a marked increase from September, and August 2019.

Simultaneously, the average price for residential properties has increased 7.1 percent from October 2018, now up to an average of $602,029. Despite the increased volume of sales and the increased average value of these sales, the number of listings has declined by 8 percent from October 2018.

A significant drop in listings and an increase in sales indicates one big thing: this is clearly a sellers’ market.

Of course, real estate trends can fluctuate depending on the number of current listings. In this case, the low supply of listings is certainly affecting the price range of these houses. This trend is not just for stand alone homes, it also extends to detached and semi-detached townhouses, apartments.

The most peculiar aspect of this trend is the timing of it all. Typically, real estate sales increase as the temperature gets warmer, leading into the summer. In this case, the sales and price are increasing as we approach the coldest months of the year!

Real estate prices are often regarded as a marker for the growth of a city. As prices rise in Hamilton, the economy improves. Certainly this is exciting for the people of Hamilton, who can look in any direction and see ongoing development in the economy and culture of the city.

Comments 0

There are no comments

Add comment

Share post

Links
Social

© 2024 Robert Cekan Professional Real Estate Corporation. All rights reserved.