Hamilton, Halton, Brantford and Niagara Real Estate Stats
The market is transitioning. Still hot, but showing signs of cooling.
After record breaking sale prices through the first quarter of 2021, there are signs that housing prices are starting to slip. The runaway home price growth in our local markets seem to be stalling amid signs of prospective home buyers being tapped out. Currently, multiple offer situations still exist, however, less buyers are coming to the table.
The pace of rising home prices will definitely slow down from 2021 first quarter highs. While the pace of prices won’t rise as quickly, prices themselves will still stay high.
The first three months of this year were filled with bidding wars, soaring prices and very low inventory, leaving buyers emotionally exhausted trying to snatch up any available homes. Adding to the exhaustion, this was all happening during a global pandemic and stay-at-home orders from our governments.
It’s difficult to pinpoint the exact reason behind the soaring price growth in recent months – no one would’ve predicted a pandemic would result in the hottest real estate market we have ever seen. In fact, Canada Housing Mortgage Corporation (CMHC) is on record in May of 2020 predicting home prices we’re going to fall upwards of 18% – this prediction couldn’t have been more wrong. Evan Siddall, the President and Chief Executive Officer of the CMHC, even offered a very unusual apology on Twitter for this inaccurate prediction.
Since there was a full COVID shut down in April of 2020, it is a challenge to gauge comparative numbers for April of this year versus April of last year. Peak numbers were actually hit at the end of February last year going into March.
The drive-until-you-can-afford trend continues, with GTA buyers migrating to the Niagara Region. Continuing to be strongest market in the Golden Horseshoe, Niagara is going full steam ahead with
a 4% increase month-to-month, looking to be at the tail-end of this transition.
Prices are not coming down, but the market is transitioning. If you are waiting for your perennials to bloom so things look pretty before you sell, you might end up growing a nice garden, but you might also miss out on growing your bank account.
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Call 1-800-288-9184 today to find out how we can sell your home fast and for top dollar.
MAXAMIZE your selling price in 2021.
People sell their home for a variety of reasons, but one thing all sellers have in common is they want to sell their home fast and for top dollar. Listing a home at the wrong time and pricing a home incorrectly are two of the biggest road blocks to achieving this goal.
Preparing for the day your home hits the market can feel overwhelming, especially if you’ve never done it before. Presented with an emotionally challenging task, The Golfi Team understands the desire to look for ways to make the process go as quickly and smoothly as possible.
Even in a strong seller’s market, you cannot overlook the smallest of details. When you sell with The Golfi Team, your property will be mass marketed and strategically priced. Our trusted team helped over 700 families in 2020, ranking us the #1 Real Estate Team in Hamilton, Halton, Brantford and Niagara††. We have a proven track record for selling listings for a higher price and faster than the average agent in our marketplace (MLS.ca).
We are confident that we can sell your home in a suitable time frame and deliver maximum results.
Whether you’re in the market now or are thinking about selling in the near future, call us today for a free home evaluation to find out the right time and the right price when it comes to selling your home!
Do you have any questions you would like us to answer? Send us an email: email@example.com.
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