March Stats Recap

A tale of two cities….

The last 31 days in Burlington has made quite a difference, as we eluded last month we felt a significant shift in the Spring market. Off to a slower start than usual, but, spring has sprung! With an 8% increase in the overall sale price across the City and an average more on par with years passed. Millcroft continues to be an area of activity with 77 sales in the last 31 days! Buyers seeking Roseland have found a quick turnover with an average of just 14 days on the market and a mere 16 sales which caused many Sellers to see sales of full asking price or more.

In Hamilton, the numbers tell us a different story… the average sale price has fallen 11% from last month. The positive news? It’s still well above the 10 year average and, has not fallen below the average from this time in 2016, before the big boom last year. Fairly on par for days on market but, a significant surge in listings and a 60% turnover of inventory. Likely noted by Buyers who are purchasing at 100% of asking, on average. Downtown and surrounding areas are booming with the average sale 102% of asking… with Beasley, Corktown, Lansdale and Stinson reaching as high as 106%!

How long will the trend continue? It’s hard to say… typically we see rates plateau in April but, with a late start we may see Spring even beyond the May long weekend. The long and short of it? If you’re thinking of selling… don’t wait until Summer if you want to strike while the iron’s hot!