Wednesday, December 13, 2017
Real Estate Board of Hamilton Burlington
Real Estate Market
We continue to see a healthy number of listings coming onto the real estate market, which is a welcome relief from the low inventory earlier this year, said RAHB CEO George O’Neill. Although sales are down compared to last year, they are still higher than average, which means there are also still lots of buyers.
Two months ago, in September, we saw a dip in what had been a weakening seller’s market, and then a bit of a rebound in October as is often expected. This past month, in November, the sales-to-new-listing ratio was around 67 per cent over the entire month, but is now trending downward toward a balanced market.
Now that we are going into the year-end holiday season, we expect to see a bit of a lull – that is the traditional rhythm of the real estate market, noted O’Neill. We continue to urge buyers and sellers to contact a REALTOR® to learn more about new mortgage guidelines coming into effect on January 1, 2018 – the new guidelines may affect their purchase or sale.