Courtesy of Chuck Farrauto

FEBRUARY BROUGHT A RISE IN BOTH SALES AND LISTINGS

$471,259 apartment NO CHANGE year-to-year

$863,806 detached DOWN 1.1% year-to-year

AVERAGE SALE PRICES

$713,584 rowhouse

890 NEW LISTINGS 487 SOLD LISTINGS

UP 0.7% year-to-year

detached 589

150 rowhouse

2.5 MONTHS OF INVENTORY

1,205 ACTIVE LISTINGS

55% SALES TO NEW LISTING RATIO

34 DAYS ON MARKET

Hamilton, ON (March 1, 2024) – February sales reached 839 units, a modest gain compared to last year. A total of 1,489 new units were listed in February, which is slightly higher than long-term trends. However, levels were nearly 23 per cent higher compared to last year. The sales-to-new listings ratio was 56 per cent, which helped boost inventory levels over the previous month. Inventory levels were nearly 18 per cent higher than last year. Supply improved across almost every price range in the total region. “While supply gains may seem significant, it is important to remember that we have generally seen lower re-sale supply levels in our market for nearly a decade. At the same time, we are starting to see improvements in sales, keeping our market relatively

balanced with over two months of supply and a sales-to-new listings ratio of 57 per cent,” says Nicolas von Bredow, President of the REALTORS ® Association of Hamilton-Burlington (RAHB). In line with typical seasonal behaviour, the unadjusted benchmark price trended up over the previous month, reaching $835,900. Overall prices are relatively stable compared to levels reported at the start of last year. Statistics reflect market activity in February 2024 | Source: REALTORS ® Association of Hamilton-Burlington (RAHB)| Market values stated are of the average of Hamilton and surrounding region. Hamilton includes: Hamilton West, Hamilton East, Hamilton Centre, Hamilton Mountain, Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

COMPLIMENTARY MARKET EVALUATION

We now have access to 22 Real Estate Boards in Ontario including Toronto, the largest Real Estate Board on the planet. It only takes a few minutes to do a computer generated ballpark value of your property, or to research valuations in all of these areas. Further, I’m working with associates in the East Coast and British Columbia. If you would like to get an idea of what your property would fetch in this market, don’t hesitate to give us a call. Office: 905-389-3737

Chuck Farrauto Sales Representative chuckfarrauto@realtynetwork.biz

Samantha Lefebvre Sales Representative samanthalefebvre@realtynetwork.biz

Privacy Disclosure: We respect your privacy. The sponsor indicated on the front panel provides a complimentary subscription of this publication to you, a valued client. If at any time or for any reason you do not want to receive this publication, please contact the sponsor using any of the contact info on the front panel, and your personal information will be removed from the mailing list immediately. Without response to this cancellation offer, we assume your implied consent and permission to continue provision. Disclaimer: This publication is distributed for the purpose of information only. It is not intended to solicit buyers or sellers currently under contract by a real estate firm or under contract with another Broker or Mortgage Specialist, nor is it intended to cause or induce breach of any existing agreement. Distributed by: dmsmarketing.ca Copyright© 2024 All Rights Reserved / Printed on recyclable material. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by CREA and identify real estate professionals who are members of CREA.

Made with FlippingBook Ebook Creator