The year 2018 will undoubtedly be an interesting year for Real Estate, and we at The Rocca Sister & Associates are very excited to see what the Spring Market will have in store! The market is so strong right now with low inventory, Buyers in full force and eager to purchase! We went into January with low inventory as everyone was eager to sell before the Stress Test came into place and levels remain low. This market is the perfect time to list your home! The conditions make for low inventory, less competition, mixed with a large buyer pool setting the stage for a strong early Spring.
Here’s a recap on the winter Market as we look forward to what’s to come in the spring:
Unexpectedly, the year ended favorably for all our trading areas despite the market trends. In Burlington, the results are very positive overall. Burlington saw a 13.9% increase in prices paid, a 9% decrease in sales and an 11.7% increase in DOM, year over year. Average price for a freehold home in Burlington ended at $896,911.
Hamilton remained the leader in our trading area in terms of increased sale prices, year over year. In 2016, the average price of a home in Hamilton was $373,687. By the time 2017 finished, the average price paid was $432,064 – a 15.6% increase. Hamilton remained the leader in our trading area in terms of increased sale prices, year over year. In 2016, the average price of a home in Hamilton was $373,687. By the time 2017 finished, the average price paid was $432,064 – a 15.6% increase.
Sales were down 8.8% and DOM remained firmly at 21. Oakville saw the lowest increase in prices paid when comparing 2016 to 2017 with a 12.6% increase year over year. When all was said and done, the average price for a freehold home in Oakville was $1,295,585 as compared to $1,150,814 in 2016.
Make sure you’re informed and prepared for the Spring market by turning to the name you trust. We’d love the opportunity to come in and share with you the performance of our first month of 2018 and explain to you why now is the best time to sell! Now is not the time to leave things to chance, teaming up with our proven strategies and leverage of our network will give you the edge you need whether selling or buying to get the best results. Call us to see the difference!