Hamilton Market Update for March 2023
The Real estate market in February came alive in Hamilton!
Sales numbers were historically low, but average and benchmark prices made some strong monthly moves. Median days to sell decreased substantially. No one has a crystal ball, but it is possible the bottom may be behind us, its impossible to know for sure, with no end in sight in interest rate pressure, the ability to finance a mortgage is keeping most buyers in the 800k or lower range. In fact 60% of all home sales in the last month were below 800k!
Why should I care?
For buyers who can qualify for financing to make their purchase there are opportunities in this market, with prices down 21% over last year.
For sellers, we’ve seen 30% of sales in the last 30 days sell for at or above asking price.
For properties that are prepped, staged and priced right you are able to get the best buyer, the best price with the best terms that fit everything you want.
Average Sales Price
Average Days on Market
Months of Supply