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Local Neighbourhood Real Estate Stats Update

It's been a wild past year for real estate, as the market has responded to government policies, and changes to mortgage lending and interest rates.  Overall we've seen a pull back in pricing and volume from Spring '17, where there was very little inventory.  However, as you'll see below, from Q1 2018 vs. Q4 2017, we've seen a slight increase in sale pricing in Burlington and Hamilton, and decrease in Oakville.     


The 'Downtown/Central' areas of Burlington, Oakville, and Hamilton led the way with average freehold price growth, with limited supply and continued strong demand.  The rules of supply and demand continue to dictate market results in each neighborhood.  The most desirable areas maintain their demand and pricing.  Neighbourhoods with more inventory supply  are seeing a bit of price softness as buyers have more choice and negotiating leverage.  For more specific info on each neighbourhood, see below.


It's interesting to note how the majority of people's natural tendency for stocks and real estate is to buy when things are expensive, and shy away when they're on sale. It's more important than ever to work with experienced agents that can analyze the data for you to help you make the best decisions.  If you have any questions, or would like some more specific real estate info, just let us know.


Best regards,


Ryan

BURLINGTON HIGHLIGHTS

1. Fastest Appreciating:   Downtown Burlington had the highest price increase from the previous quarter (Oct-Dec 2017), up +31.2% followed by Aldershot up +14.4%

2. Most Expensive:  North Burlington is the most expensive neighbourhood this quarter (Jan-March 2018), with average sales prices of $1,315,444.

3. Hottest Area:  Mountainside had the highest Selling Price to List Price ratio, at 99.6%

For complete info on each neighbourhood in Burlington:

OAKVILLE HIGHLIGHTS

1.  Fastest Appreciating:   Central Oakville had the highest price increase from the previous quarter (Oct-Dec 2017), up +50.4% followed by Glen Abbey up +14.3%

2. Most Expensive:  Morrison is the most expensive neighbourhood this quarter (Jan-March 2018), with average sales price of $3,011,427.

3. Hottest Area:  West Oak Trails had the highest Selling Price to List Price ratio, at 99.3%

For complete info on each neighbourhood in Oakville:

HAMILTON HIGHLIGHTS

1.  Fastest Appreciating:   Downtown Hamilton had the highest price increase from the previous quarter (Oct-Dec 2017), up +28.7% followed by Old Ancaster up +21.9%

2. Most Expensive:  Old Ancaster is the most expensive neighbourhood this quarter (Jan-March 2018), with average sales price of $751,426.

3. Hottest Area:  South West Hamilton had the highest Selling Price to List Price ratio, at 98.9%

For complete info on each neighbourhood in Hamilton:


HAVE A QUESTION ABOUT REAL ESTATE? LET'S TALK!

Call us or send a message below and we will get back to you right away.

Ryan & Vicky Urban Real Estate Agents Serving Burlington, Oakville & Hamilton ON. They Are Experienced Professionals That Would Be Honored to Assist You In The Journey Of Buying Or Selling Your Home.

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