Wednesday, February 8, 2017
Local Hamilton Market Statistics
There is often a misconception about the best time to sell your home is Spring. Where did that concept originate? Is it the perception of our great Canadian Winter? The snowy days suggesting that we like to hibernate in Winter and the warm sunshine of Spring will bring us out of our ice castles to look for a new home?
Interesting thought but it does not allow for the changing economic trends which have occurred from time to time. This year is a prime example. The latest statistics from our Realtors Association indicate that the decrease of available properties year over year is one of the highest experienced. Harkening back to basic economic theory, with low supply and continued demand, there is going to be an upward push on price…..and that is exactly what we are seeing in the Hamilton-Burlington marketplace. Prices are up in all areas of Hamilton, Burlington, and surrounding communities.
Therefore, if you have been considering selling your home, do not wait until the official start of Spring…..do it now! When the supply of available properties is so low, don’t waste time because you think the house needs some TLC. In many instances, a Buyer will want to make the improvements that they feel suit their needs and often discount a homeowners hard work in favour of their own style.
The most important advice to a Seller is to clean, declutter, and get your home on the market while the economic factors are in your favour. We would love to share all the statistics and market knowledge with you so you can make the best decision. Call us, email us, or visit one of our offices.