As clients and agents alike take their summer vacations, our appointment centre experienced a slightly quieter week with 2,811 total appointments made. For the second week in a row, our busiest day was not Thursday or Friday, and was instead Monday with 453 total appointments booked. There have only been 6 times in the last 6 years where appointments on a Monday exceeded 450, with 50% of those dates in 2020 as the market rebounded after Covid 19 shut downs.
Monday November 26, 2018: 453 appointments
Monday May 27, 2019: 451 appointments
Monday February 17, 2020: 452 appointments
Monday November 23, 2020: 455 appointments
Monday December 28, 2020: 470 appointments
Monday December 27, 2021: 454 appointments
In addition, the gap between sales and new listings has narrowed throughout the past 6 years, for the week which contains the August Holiday weekend. With the average spread between sales and new listings over the last 6 years being 61, this year’s spread is nearly one third of the average at just 23, furthering the trend of strong consumer behaviour when it comes to new inventory.
The appointment/sold index increased to nearly 11 as we see new buyers entering the market as mortgage rates continue to decline causing a slight surge in qualified buyers.
Our top price ranges, as usual, remained fairly consistent in all 3 regions with some small but notable changes. Hamilton saw no major shifts, and the $1-2M range continues to hold the top spot. Halton saw more mid range price points occupying the 3rd, 4th, and 5th spaces while the $1-2M and 2M+ ranges continued to hold to 1st and 2nd spots respectively. Finally, Niagara saw the $1-2M range re-appear at #4, with low to mid range price points occupying most other spots.
