Market Conditions and Spring Forecast
This fall brought us a statistically slower but steady market through to the holidays. Average days on the market has risen to its highest point in the last two years in both Burlington and Hamilton but average sale price has rivalled that of the summer market in both areas as well. Pricing sharp has ensured a successful sale for sellers, particularly in Hamilton with a 99% price to sale ratio throughout most of the market. With buyers still out in full force well into December there were still many transactions to close out the end of the year. As we look ahead to Spring, we can anticipate much of what we saw this same time last year… an influx of more homes on the market and buyers, now returning to their daily routines, will quickly get back into their search as well as a new group of buyers to add into the mix. Last year we saw a late start, edging almost into March before some real numbers started to tip the scales. This year, time will tell but all signs point to a prosperous balanced market.