By: James Hand

March 2022 Market Report




While the wind was still whipping across the lake in blizzard like conditions a few weeks ago, Noah and I headed off on our annual ice fishing trip. We actually found a spot that would deliver a hot pizza right to our hut, via snowmobile. How cool is that!? The pizza was so good too. So we got a double bonus with that.

It was so cold that day, as soon as you opened the doors,  you would have thought it was weeks and weeks before the nicer weather started to arrive. But here we are......


Alright, alright, alright as Matthew McConaughey says......we've reached March. Some things seem to be looking up in this topsy turvy world as the weather now seems to be co-operating and of course, that some of the mandates have been removed.

Today, as expected, the BoC (Bank of Canada) increased the target for the overnight rate  by 0.25% setting it at 0.50%. This is the first rate hike since October 2018.
So what does this mean for you, the market etc.?
Well, as I always say this is our real estate market report, so lets get to some real estate type things. Starting with the actual figures and then into what it could mean.
But before we dive in though, if you'd like to check out the SOLD PRICING for each city be sure to get on our weekly email list that will give you all of that information. We can even set it up for your neighbourhood or a neighbourhood that you're intersted in!! Send us an email at or a text to 289-769-9199.
Now let's get to the numbers and the market report. If you have any questions about how you, your home or your neighbourhood are directly affected.....or if you have questions about the market trends we're seeing, or anything at all honestly, please reach out. I'm here and always happy to help in any way that I can. 
These are figures for the month of February only. 
Greater Hamilton Area Market News and Activity
February 2022
The Hamilton-Burlington Market Area had 1228 sales of residential properties for February. This means sales increased by nearly 71% compared to last month, but they were also down compared to February 2021 by 4.4%. Listings were up for February at 1675 which was a gain of 84.2% from January. The average sale price did go up yet again however, albeit a little slower. An increase of 4.2% for the combined market area from January, putting it at $1,104, 163However prices were up a whopping 30.3%compared to February 2021. The months of inventory remained the same as last month at 0.6 months of inventory.
So the numbers have increased yet again. But this time it's both in inventory and pricing. So what does it all mean. Are we headed for that crash that the media, and let's be honest many others keep talking about.
Not in the slightest.
However, what we are starting to see percolating to the surface is a slight shift in the market. As you probably know, I'm not a strong believer of the crystal ball or predicting the market with any absolute certainty. We have lots of variables (I'm trying to be politely professional) in this world, as we know watching the news. But trends are trends.
For sellers and buyers am I seeing anything that should create a panic.... No. Am I seeing things that should have you adjusting your plans......Maybe.
If you've been thinking about selling, the early spring is going to be the time you want to aim for. When is that? Well, it's now. If you were planning on selling at the end of April or into May I would try and move up your timeframe. We're starting to really see buyer fatigue. 
What is that? 
Buyers are still out in record numbers but the number of offers are starting to wane. Buyers that have been in the market for a little while are starting to tire from the competition and losing offer after offer. That's why in this case we're seeing the average sold price starting to slow in its escalation. Will we see prices drop in the coming months? Possibly. But nothing that would be astronomical. If it does happen though I don't believe it will be until July or most likely August.
However, getting in now, while you still control the offer process and in order to maximize your chances of record profits, strike while the market is still blistering hot for sellers. There's more money on the table, offers are still producing record setting sold prices, and you can extend your closing to almost whenever you want..... right now.
For the buyers out there. It seems slowly starting to shift towards your favour. Is it going to be a buyers market any time soon? No I don't think so, unfortunately....sorry. But the market, in its never-ending ebb and flow, which has for months and months now only flowed towards the sellers benefit. Well, it looks like it's flowing towards you, albeit in micro steps.
I would take heart in knowing come late March you may be able to compete. You might be able to get a place without having to pay a record setting price. If you wait until May to July you may even start to see some deals. They won't be easy to find but I believe for this brief period it could happen before more gains hit the market.
Regardless of your status, whether a buyer or a seller, you can't time the market. We've seen and it's been proven time and time again. But, it is always possible to capitalize. If you're interested in seeing how we can help on either end or both. Or if you just have some questions about anything at all I'm always available to chat.
HAMILTON INCLUDES: Hamilton West, East, Centre, Mountain, Flamborough, Dundas, Ancaster, Watertown, Stoney Creek
NIAGARA INCLUDES: Grimsby, West Lincoln, Smithville
HALDIMAND COUNTY INCLUDES: Dunnville, Cayuga, Caledonia, Hagersville, Oneida, Seneca, Rainham, Canborough, Sherbrooke