Tuesday, July 17, 2018
Real Estate Market
According to RAHB Statistics the number of Sales in Ancaster this Spring compared with the same period last year have dropped a whopping 52.3%. In addition, the Median Sale Price is down 11.8% and Average Sale Price 7.2%. Further, as inventory levels continue to climb we are now in Buyer’s Market territory in Ancaster. While this is great news for home Buyer’s in Ancaster it is imperative that Seller’s understand the reality of the current market and price their home accordingly. If you are considering selling your home in Ancaster or Hamilton make sure you have an up-to-date comparative market analysis.
Of course, the question on everyone’s mind is have prices stabilized and when will sales begin to pick up again? According to the most recent—June 13th, 2018—House Price Index Report released by Teranet and the National Bank of Canada, the stabilization of home prices in Canada has been confirmed in May in Hamilton which includes Ancaster. Further, according to a recent—June 2018—TD Economics Report the acute volatility of the Canadian housing market may be nearing the end. Cameron Muir, Chief Economist of the British Columbia Real Estate association say’s “If the impact of the stress test evolves in a similar fashion to past macroprudential tightening, we expect that home sales and the wider Canadian economy will rebound in the second half of the year,”.