Market Stats: May 2019

We managed to make it through the rainy days of May – it looks like within this first week of June, the beautiful weather has finally arrived!  For both Burlington and Hamilton we saw number of new listings climb even higher than those in April, with average sale price remaining within a couple thousand dollars in both Cities.  While Burlington began to see a fall in total sales within the month, Hamilton saw a 16.2% increase in May!

Reflecting on 2019 versus 2018 for Burlington… while we may not have seen an increase in listings, sales are up compared to last years market. Burlington saw a 13.7% increase in the number of sales, with a quicker turnaround of 27 days on the market, and listings selling for 99% of list price. Though it appears to be a slightly faster market with a higher return in terms of list to sale price, the average sale price dropped immensely from $773,963 in 2018, to $741,699 this year. 

In Hamilton, we’re looking at increases across the board for May!  Number of sales across the City rose by nearly 18% from 2018 and even number of listings are up by 14.6%.  The market is moving at about the same speed as last year, reporting 25 average days on the market.  Average sale price follow the rising trend sitting at nearly $15K over last years average for the month.  Hamilton seemed to be booming this Spring, so much so that the Realtor Association of Hamilton did a spotlight on Hamilton Centre for the month of May due to the numbers for that one area alone. 

Here we sit, with the first week of June under our belts.  This first weekend has brought some gorgeous weather which I’m sure will trigger ‘summer mode’ for some!  For families, the wind down for the school aged kids has begun with a mere 14 days remaining until schools out for summer!  Will we see one final push for all those May listings as we move through the month of June?  Or will these listings hang on tight as the summer market moves in on us?  Time.. and whether this more seasonal weather hangs on, or not.. will tell!