This Spring market has arrived in January and had most of us awaiting just what that would mean… unfortunately most of us are still asking ourselves the same question as, this has been slightly unusual as compared to years passed.
In Burlington, we’ve seen an increase in listings, average sale price as well as a reduced number of days on market. The curve ball here is the number of units actually sold throughout the month is actually fewer than December with 105 in January and 116 total units sold in December 2017. We’e also seen a small decline in the sale to list price ratio, likely to small to read too much into but I think will speak to the overall feeling out there amongst Buyers and Sellers. With a few weeks now under our belt, all have been just a little different among the different areas and price points. For example, those few of you selling in Alton Village are smiling with very few days on market, under two weeks on average! While, Millcroft has seen a burst of listings (52 last month alone!) and, longer days on market with Buyers carefully weighing their options.
Turning to Hamilton… we’ve seen an opposite affect. With a better December than normal January seems to have levelled off with the average sale price dropping slightly due to an influx of listings jumping from 266 in December to 334 in January. Sellers did however, get close to asking with a 99% price to list ratio. Hamilton Centre has had fewer units sold than the month previous but, has seen a good return with an average sale to list at 101%. West end and into the east have also had a nice bump in the average sale price, about $30k more than late last year, now that we are in a new market.
Although hard to really speak to too much trend as we are just touching the surface of the busiest time of year, February may help us to make more heads or tails and really project what will come as we round out the Spring.