April’s Real Estate Market

As the spring market has come upon us, here is how things are shaping up versus last year. The Realtors Association of Hamilton-Burlington has recently released statistics for the month ending April 2014 and residential sales were down slightly from those of April 2013. New listings are picking up for the year and there was slightly more homes listed this year compared to this time last year. This is great news for buyers as options are expanding, lightening the sellers market from the cold winter we had, where demand far exceeded what was actually available.

As a fact that will peak potential sellers interests, the average price of a home is up over 9% from last year. As we anticipated with the cold behind us the spring market has come into full swing and looks to be very strong, making it an opportune time for anyone looking to make a change or invest in real estate.

COMPARING RESIDENTIAL STATISTICS
APRIL 2013 VS. APRIL 2014

Units Listed: April 2013 = 2014 vs. April 2014 = 2089, up 3.7%
Unit sales: April 2013 = 1450 vs. April 2014 = 1427, down 1.5%
Avg. home sale price: April 2013 = $379,731 vs. April 2014 = $414,736, up 9.2%
Avg. days for a freehold home on the market: April 2013 = 40 vs. April 2014 = 34.

Please contact us anytime if we can be of any assistance to you or anyone you know. We offer a free consultation and or home evaluation at no obligation. All the best!

Sincerely, John Schlett & Rob Kozak