As we enter what is essentially a post-spring market (the spring market started in January this year), we are seeing fewer active buyers through a 15% decrease in the week-over-week appointments. Listing inventory is increasing with 39% more new listings last week than the previous week, and sales continue to rise - up by 44%.
Our Sold/Appointment Index has dropped to 9.7 appointments per property sold, largely in response to the reduced number of buyers, and more choice in the market, which appeals to the value-conscious consumer who are making quicker decisions.
Luxury homes have grown in popularity in Hamilton, with $1-2M homes in the #1 spot. Burlington continues to favour the $1-2M range as well, followed by a smattering of low, mid and higher price points. Niagara’s most popular price ranges continue to be more affordable, with $450-500k properties in the top spot for the second week in a row.