Greater Hamilton-Burlington Area
According to data released March 3 by the Realtors Association of Hamilton-Burlington, year over year sales activity from February 2019 to February 2020 has increased on average by 25%. Prices also following this trend with year over year average increase of 15%.
We currently find ourselves in a seller’s market with limited inventory and high demand, more specifically in the under $600,000 price point (first time home buyer territory).
Read more about this including your specific neighbourhood here.
According to Genworth Financial’s latest analysis dated January 23, Ontario as a whole is echoing a similar trend here locally. Reduced inventory and high demand continue to drive seller market conditions in all major provincial urban centres. They believe this trend will continue through 2020. Another interesting highlight of the report is the construction of purpose-built rental units is at a 40 year high.
Read the flash report below
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