Is the Spring Market upon us? This beautiful weather definitely makes us feel like it is! In Real Estate terms, the ‘Spring Market’ means an increase in listing activity starting late January to early February. Last year we saw a slower start, with numbers only beginning to tip the scales come March! This January the stats might leave us wondering, ‘will this year be different?’!
For the Burlington market, the number of new listings are up by 50 compared to last year, with average sale price hovering just shy of $700K. Days on the market are at 37 which means our list to sale date timeframe is already beginning to tighten; whereas last year it was still at an average 40 days on the market.
In Hamilton, the sellers are out in full swing, with the number of new listings up a whopping 238 compared to January of last year. We don’t appear to be seeing sale prices quite as high as last year, even though this December the numbers sat quite a bit higher. Days on the market and the list to sale price ratio came in the same as last January at 40 days and 99%.
The jury’s still out… we’ll see what the coming few weeks produce to glean a better idea on where we’re headed as we move through February.
To see the numbers in chart form, check out Monthly Stats on our website!