Market Update: Market Conditions and Winter Forecast

The Summer we saw two different markets emerge… one in Burlington and another completely in Hamilton! For Burlington, we saw a slight slowdown in sales which lead to a minor blip in the average sales as we rounded out August. Hamilton? It became busier! With 100% list/sale ratio and an over 3% market increase for the month and was one of the City’s best months to sell all year. September then brought us another tip in the scales… this time, in the reverse. Hamilton seemed to have plateaued over the summer months and saw a bigger ‘hit’ once the kids returned back to school. Burlington on the other hand, started to take off… a 5.6% increase for the month meant a steady start to the Fall market and a boost of new listings entering the market again. As we await the start to the blustery early winter weather, many Sellers are strategizing their sales while Buyers are watching for price reductions carefully!