Friday, September 9, 2016

Market Update: Market Conditions and Fall Forecast

Market Conditions and Fall Forecast

We never really saw a break this year with the spring market evolving pretty seamlessly into the summer.  There was the natural lull for that quick two week period where parents were caught up in the school year ending, which always means vacation mode in those first two weeks of July, but, then, things resumed.  The banks finally started putting a little more pressure on financing come end of July.  That’s a good thing really as the bidding wars certainly have pushed pricing to new limits.  Our average sale in Burlington in June was $682,258 with every neighbourhood reaching all time highs.  The only area that suffered any shelf life was Area 38 sitting on the fringe of the City.  The Hamilton market enjoyed similar activity with price ratios over 100% in every neighbourhood. 

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