Though the weather might not have fully realized it (are your sweaters out, yet?), and the leaves are a little reluctant to change… it. is. Fall! Our Fall real estate market is here in full force. It’s been a busy few weeks with listings and sales, and we welcome it!
We’ve moved away from the drop we saw in August where new listings inventory was low. September saw increase in the quantity out there! Inventory is turning around quicker again, too.. both for Hamilton and Burlington, with average days sitting at 26 and 25 respectively for the month. This is certainly an increase in activity as the summer market came to a slow in August, but even in looking at last year. Burlington was averaging 35 days on the market in September 2018… a difference of 9 days to this year – wow! Hamilton is slightly more consistent sitting similar to last month, but a difference of only 5 days from last year.
In Burlington, our average sale price is high.. nearing the $800K mark last month. Not only is this higher than we reported in August, but, it’s higher than 2018. The number of sales is about the same from last month, and last year. The result last year that was in October we saw an increase in sales. Likely that the September blip in inventory then began to sell off as we moved through the remainder of our Fall. Hamilton saw a shift in the other direction with sale pice down by 7% from last month, yet up from September 2018. Number of sales in Hamilton is about the same as last month, whereas we’ve seen a significant increase from 2018. With 2018 so much lower, we saw October sales were quite high by comparison. It will be interesting to see how that translate to this year, where we might see Hamilton sales to be more balanced across this fall Market.
We’re always saying it! Mother Nature will dictate what happens next and how long we see this market hang on. When the snow begins to fall, that always signals a halt in the market; everyone retreats and buckles down for Holiday prep, or they fly South to enjoy some sunny weather and ride out the cold that’s moved in back home.
Don’t forget! We’re always posting monthly stats to our website if you want to keep an eye on them.