'Jingle Bells, Jingle Bells...' can you hear that? We are most definitely approaching the Christmas Season. November stats have been released and overall for the RAHB Board, number of sales are down 17.1%. In Burlington, number of sales have dropped by 53, for a change of -25% since October, whereas this same time last year we actually saw an increase over October to November. For Hamilton, number of sales have dropped by 66, for a change of -17% since October with the same as Burlington being true last year... sales were up, quit dramatically for Hamilton.
Last year, this downward trend continued through December and into January for both Cities. It wasn't until February that we started to see things, albeit slowly, start to creep back up. The 2017 Spring Market was upon us as of March! I'm going to hazard a guess that the same may be true for 2018, moving into 2019.
For Burlington, the 35 area (Headon Forest / Millcroft etc) held the largest percentage of overall sales at 26%. However it was the Alton Community and South-East Burlington (Roseland included), that each had average sales up over $1.3 million for their combined 13 sales.
In Hamilton Centre, we found one neighbhourhood reporting 102% list to sale price ratio, so numbers were still strong there with average days on the market below the overall average at just 25 days.
Typically, the market slows over the holiday season! Everyone is just preoccupied with the busy-ness of the season. The positive, if the Buyers are out there looking, they are likely fairly serious about their search... showing their commitment. We normally advise the Spring market for real estate will commence mid- to late January. If it follows the same trend as last year, we might see a slightly later start to the Spring market for 2019... perhaps a slower start given that sales were still on the rise last November and didn't see the decline until December. For now, Buyers and Sellers alike, enjoy the lull and brace yourselves for what's to come in the new year!
We're posting the stats on our website monthly... have a look at Monthly Statistics.