Friday, February 14, 2020
Real Estate Market
Housing market outlook for 2020 will be a seller’s
Let’s take a look at the housing market outlook for 2020. In this article we’ll review the report REMAX provided us with. They reported on these statistics and trends expected for 2020. It was reported that the market will favour sellers in the housing market when it comes to the average price of a residential property.
The Hamilton-Burlington area is experiencing a seller’s market. And with 1.9 months of inventory in Hamilton and 1.6 months of inventory in Burlington. It should be noted that buyer’s have had to adjust to the mortgage stress test.
And have had to find other ways to finance the purchase of their home. For example, there are some people that have chosen to go through private lenders rather than using a bank.
The Development Freeze in downtown Burlington
If you’ve been to visit downtown Burlington recently, it’s hard not to notice that there’s a lot of construction going on. New condo buildings seem to be popping up everyday. But there has been a development freeze put in place. This means that there could be delays to any future developments.
The municipal government has been putting out regular newsletters to let the community know what the plans are. It’s a good idea to pay attention to these updates if you have invested in a new condo.
You can find updates on the City of Burlington website. So that you’re aware of any possible changes to the freeze. However, with that being said, there are many new buildings that are in very sought after areas going up all over the downtown area.
The GO Train and Affordability Beyond the GTA
It’s no surprise that many people have been leaving Toronto and the surrounding GTA for quite a few years now. And they’re moving to areas such as Hamilton and Burlington.
With the GO Train service expanding and moving toward the Niagara area, it’s only giving more people opportunities to own their own home. And the Hamilton industrial sector has picked up, the economy is expected to see positive impacts over the coming year.
With buyer’s from the GTA being a major force in the area and because there has been this expanded GO Train service in recent years, along with affordability in the area. There will be a clear impact on the Hamilton-Burlington housing market in 2020. These buyers are expected to help drive the demand in 2020.
Hottest Neighbourhoods in Hamilton and Burlington
It’s time to talk about the hottest neighbourhoods in Hamilton and Burlington. In Hamilton the neighbourhoods that made the most popular list are; Leckie Park, Waterdown West and Fifty Point. And the hottest neighbourhoods in Burlington that made the popular list are; Brant Hills, Central and The Orchard.
All of these are some of the most sought after neighbourhoods in the Hamilton-Burlington area. There are a lot of different factors that come in to play here; it can be things such as schools, affordability and most desired area.
RE/MAX Canada is anticipating a levelling out of the highs and lows that were reported by the Canadian housing market in 2019. And this is specifically true in Toronto and Vancouver. There are expected to be healthy price increases.
It was also reported that across Canada the markets have experienced moderate price increases year-over-year from 2018-2019. That being said, some regions in Ontario have continued to experience higher than normal gains.
“Southern Ontario is witnessing some incredibly strong price appreciation, with many regions seeing double-digit gains. Thanks to the region’s resilient economy, staggering population growth and relentless development, the 2020 market looks very optimistic.” – Christopher Alexander, Executive Vice President and Regional Director RE/MAX of Ontario-Atlantic Canada.
Have Questions About the Market Outlook?
If you have any questions about the information you’ve just read about, contact Lori VanDinther and her team. They would be more than happy to discuss them. And if you’ve been thinking about selling your home, contact the team at We Sell Millcroft today. They’ll help you find your dream home.
Monday, January 27, 2020
General Real Estate Market
You're Planning To Move In The Winter
So you're moving and it's the winter, that can be stressful but we want to help make the experience easier with some helpful advice. Lots of people move during the winter months, it's more common than you might think. We hope that these tips and advice will help you with your upcoming move.
Check The Weather
This one is obvious, but needs to be said. It's so important to check the weather the week leading up to your move. Depending on where you are in the country will determine what weather to expect. In Burlington anything seems to be possible. We can have a mild winter or lots of snow. So keep your eyes on your weather app and make sure you're prepared.
Kids and Pets
You're moving the family and you also have pets, plus it's the winter. Or you just have pets, which to some of us are our children. It's not a bad idea to find a babysitter or send them off to a family member for the day. This is a good idea during any season that you're planning on moving.
Don't Forget To Transfer Your Utilities
The winter is cold, as you know, and we want to make sure that you're warm on the day of your move. It's not a bad idea to get your utilities on in your new home a few days early. Then you'll be moving into a warm and comfortable home.
Start Moving Day Bright And Early
We all know that sometimes winter can be unpredictable and the weather can change. Because of this, we recommend that you start the day as early as you can. That way if there are any delays at least you're off to an early start. Don't worry, movers are prepared in the winter for such events. But we also would recommend that you speak with your moving company a few days before to re-confirm details about your move and any weather concerns you might have.
Dress For The Season
It's winter and it's cold out. Make sure that you're wearing the appropriate clothing. We would also recommend that you wear layers; that way you can take layers off if you're getting to warm from all that running around. Moving day is a busy day, so let's dress for the weather inside and outside.
Contact Us At We Sell Millcroft
All of us here at We Sell Millcroft are looking forward to working with you. And helping you find your dream home in Burlington's most sought after neighbourhood. Make sure you contact us and we can get you started and find the home you've been looking for. And if you have any questions about moving in the winter we would be happy to help.
Friday, October 18, 2019
Real Estate Market
When we take a look at the above chart, Monthly Housing Statistics. we can see that the median price of a home in the Millcroft neighbourhood was listed at $875,000. This is a 20.2% increase from 2018 however, the average sales price of a home saw a 11% increase from 2018 to $889,667.
August was a good month in Burlington's most sought after neighbourhood. We can now take a closer look at the average sale price of a home by looking at the bar graph below.
This is a great bar graph that represents the Average Sale Price of a home in the Millcroft neighbourhood. It's great because it shows us a comparison to 2018. Red represents August 2018 and the blue represents August 2019. We can see that there was an 11% increase from 2018 in the average sale price of a home to $889,667.
We can clearly see that there is a significant increase from 2018 and only a slight decrease in the year to date graph on the right. There was a 1.63% decrease to $973,808. It's also important to take a look at how long a property remains on the market. And to do that we can look at the graphs below and get an idea of how Millcroft did in August 2018 and August 2019.
Above are the graphs that represent the Average Days on Market for homes in Millcroft for August 2019 and 2018. This is where we want to see a decrease in numbers. And we can see that there was a huge decrease in the number of days a home was on the market.
It's come to no surprise that in 2019 there was almost a 50% decrease in days a home is on the market since Millcroft is one of the most sought after neighbourhoods in Burlington. 21 days was the average days and there was a 10.11% decrease in the year to date graph with the average days being 24.
For More Information About Statistics
If you would like to learn more about the Millcroft real estate statistics you can visit the Market Stats section of our website. And you can always feel free to reach out to Lori and she'll be more than happy to answer any questions you might have.
Contact Lori VanDinther at We Sell Millcroft
If you think it might be time to sell or if you have been interested in moving to Millcroft, contact Lori today. She would love to talk to you about this incredible neighbourhood.
Tuesday, August 13, 2019
Real Estate Market
Millcroft Real Estate July 2019 Statistics
We have the real estate statistics for July 2019 and they were provided by the REALTORs Association of Hamilton-Burlington (RAHB). We were able to see that Millcroft had the highest number of sales for residential properties. This doesn't come as a surprise since Millcroft is the most sought after neighbourhood in Burlington.
In this blog we'll review the statistics for July 2019 for Millcroft and for Burlington. It was also recently reported that Burlington ranks number one in Canada as the best city to call home by Macleans Magazine. And the statistics reflect this report you'll find out in this blog. Let's now turn out attention to the chart below, Burlington Residential Market Activity for area 35 (Millcroft).
There were a recorded 95 new listings in Millcroft for the month of July 2019 and 99 active listings. The sales to list price ratio was 99%, that's an increase of 1% when compared to the same time last year.
We can also see that the average cost of a residential property was $719,338. And it's important to note the average days on the market were 21 days, that's a decrease from July 2018. Next we'll look at the map, Average Residential Price by District for July 2019. We can see how all of Burlington did in terms of sales and average cost of a residential property.
When we review the above map, Average Residential Price by District for July 2019, we can clearly see that Burlington had a strong July 2019. Millcroft can be found in area 35 and it should be noted that Millcroft had the most number of sales of residential properties with 84 sales. This comes as no surprise as Millcroft is the most sought after neighbourhood in the city.
Millcroft also reported an average price of a property at $719,338. Other areas in Burlington also did well such as area 34 with 42 sales and an average price of $765,424. Overall Burlington had a great month with a total of 267 sales. And the average listing price of a residential property in Burlington was $767,293. It's also important to note that Burlington also saw 359 new listings and had 488 active listings in July 2019.
RAHB Statistics for July 2019
There were a reported 1,170 sales of residential properties located in the RAHB market area. With a 10.3% increase from July 2018 and a 2.7% decrease from June 2019. The average price for a residential property increase by 0.9% when compared to the same time last year to $593,702.
"A yearly real estate cycle sees peaks in spring and fall, with a typically slower summer. Average prices have stayed fairly stable since the spring high, which could point to a healthy fall market when we could see the number of sales edge higher again." RAHB President Bob Van de Verande.
For More Information About These Statistics
If you would like to learn more about the July 2019 statistics you can visit the Millcroft Market Stats section of our website. And if you would like to read the full media release you can learn about the entire RAHB market area statistics for July 2019.
Contact Lori VanDinther at We Sell Millcroft
If you think it might be time to sell or if you have been interested in moving to Millcroft, contact Lori today. Lori will also be happy to go over the July 2019 market statistics with you.
Friday, July 19, 2019
Real Estate Market
June 2019 Statistics Provided by RAHB
The June 2019 statistics have arrived and were provided by the REALTORs Association of Hamilton-Burlington (RAHB). These statistics help us to better understand the real estate market for not only the Millcroft neighbourhood but for the entire RAHB market area.
Today we'll review the real estate market statistics for the Millcroft neighbourhood and see how they compared to the same time last year. We'll also briefly review the entire Burlington and RAHB market area. Because it can help us to see an overview of the month, these numbers are important for us to better understand the real estate market. Let's now take a look at the chart below, Burlington Residential Market Activity.
When we review the above chart, Burlington Residential Market Activity (Area 35), we can really focus in on the numbers for Millcroft for the month of June 2019. We're able to look at this year and past years to compare how the market did.
There were a recorded 123 new listings with an average price of $686,452. And the sales to new listing ratio was 98% and holding steady when compared to the same time last year. And the average time a property remained on the market was 23 days, same as June 2018. We can now turn our attention to the map, Average Residential Price by District.
The above map, Average Residential Price by District, illustrates the entire city of Burlington. Millcroft is in area 35 and we can see that once again Millcroft has had the highest number of sales of residential properties. And that's no surprise since this is Burlington's most sought after neighbourhood.
There were a recorded 84 sales for the month of June for Millcroft with an average residential property price of $686,452. Burlington had a strong June when compared to the same time last year. And from highway #5 to the bay we can see that this is truly the city and neighbourhood many call home and continue to call home. I believe we should also look at the RAHB overall statistics for the entire market area.
RAHB Statistics for June 2019
There were a reported 1,203 sales of residential properties located in the RAHB market area for June. This was a 4.2% increase compared to June 2018. The average price of a residential property also saw an increase of 5.2% from June 2018 to $593,549.
“The number of sales and average price is up over 2018, showing that the market is edging higher since it balanced out last year. Sales have dropped compared to May and April of this year, but paired with a decrease of about 4% in the number of new listings this could indicate the market is tightening.” – RAHB President Bob Van de Vrande.
For More Information
If you would like to learn more about these statistics for June 2019 you can find more information on our Millcroft Market Stats section of our website.
Contact Lori at We Sell Millcroft
If you're thinking it's time to buy or sell and you're interested in the Millcroft area please contact me today. I would also be happy to go over these real estate market statistics with you and answer any questions you might have. I look forward to working with you and helping you find your dream home.