By: James Hand
Market Report January 2022
Tags: HAMILTON REAL ESTATE JANUARY 2022, BURLINGTON REAL ESTATE JANUARY 2022, NIAGARA REAL ESTATE JANUARY 2022, HALDIMAND COUNTY REAL ESTATE JANUARY 2022, HAMILTON REAL ESTATE STATS, BURLINGTON REAL ESTATE STATS, NIAGARA REAL ESTATE STATS, HALDIMAND COUNTY REAL ESTATE STATS
Happy New Year, Happy Thursday and welcome to the first week of 2022. I'd say we're off to a bit of a rocky start eh!? With the announcements that came out on Monday and that took effect yesterday. All I can say is that I'm so thankful I love the outdoors, because this is so disheartening to say the least. I hope you're safe and doing your best to stay positive.
On a personal note, if there is anything you need or that I can help with. I'm always available to lend a hand or just an ear to listen.
Now, this is my real estate market report, so let's get to the numbers and the report....always accurate but as I always say, they can often be a little confusing as to what they mean to you specifically????. 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.... again please reach out. I'm here and always happy to help in any way that I can.
?These are figures for the month of December only.
The Hamilton-Burlington Market Area had 811 sales of residential properties for December. This means sales decreased by nearly 32% compared to last month, and they were also down compared to December 2020 by nearly 11%. The average sale price did go up in December however. An increase of about 2% for the combined market area from November, putting it at $931,787. Prices were up by 27% compared to December 2020.
In order to put this into context though since these numbers don't necessarily tell you what's going on....let's take a little history lesson. December 2020 the months of inventory was at 0.8. This is a number to pay close attention to. As we were in an extreme sellers market then and had record low supply issues. This is why we saw an explosion in values in the early part of 2021 and throughout the year.
The Omicron variant plus other data seems to have sellers a little apprehensive. The newest listings are then slow in coming. Right now, as of today we're sitting at 0.4 months of inventory. So half of last years supply. If no other homes become available, everything would be sold-out in under 2 weeks.
Sellers and home owners are in extremely good shape as we expect to see yet another price jump. If you set up and market your home correctly, we can get some pretty amazing numbers. I still always say hang onto property but if you need or want to sell, it might be shocking to you what can be accomplished.
Buyers are still able to get some deals though. If you look in the right places and have a solid plan, you could gain some huge benefits like the sellers.