Niagara and Hamilton Market Update
Let’s look at the latest real estate stats for Niagara and Hamilton over the past 30 days.
Starting with Niagara, homes are taking about 22 days to sell, and the average sales price is sitting at $693,000. We’re seeing homes close at about 98% of their list price—so sellers, you’re still getting close to what you ask for! Inventory is up, with over 3,100 active listings, making it the highest in a decade. Year-to-date, prices are down just a smidge by 1.4%.
Now, let’s talk Hamilton. Homes here are selling a bit faster, averaging 27 days on the market. The average sales price is $810,000, and the list-to-sale price ratio is 97%. Inventory is also on the rise, with around 1,386 active listings. Prices here have remained pretty stable, with only slight fluctuations.
For those of you eyeing the luxury market, which I consider homes over $1.5 million, Niagara’s luxury properties are averaging 35 days on the market, with a sales price of $1.8 million. The list-to-sale price ratio is at 96%, and we’re seeing a small 2% drop in prices year-to-date.
Over in Hamilton, luxury homes are moving a bit quicker, with an average of 28 days on the market and a sales price of $2.1 million. The list-to-sale price ratio here is at 97%, with prices holding steady with a 1% increase year-to-date.
So, whether you’re buying or selling, now’s a great time to take action. Need advice or have questions? You know where to find me! Let’s make your real estate journey as smooth and enjoyable as possible. Thanks for tuning in, and I’ll catch you in the next update!
Check out my other videos, and if you need to reach me you an do so on my website at danielabiagi.ca!
Stats taken from CREA.
