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2016 Real Estate Forecast

Wednesday January 27, 2016

Burlington

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And we’re off to another year! How quickly we transition from planning a new year, setting goals and making resolutions to, wow, the end of the first month of the year.

We are very excited about the real estate forecast for 2016. The sales for the end of 2015 were record breaking in Burlington-Hamilton. In fact the last five months broke records for the number of sales transactions. The momentum from this activity should prove to be a powerful launch for 2016.

Another part of the equation required for a strong real estate market is a healthy inventory of listings. As all of these properties were selling at the end of the year, the number of listings available did not keep up with the pace. There is a clear lack of inventory in almost all areas and price ranges. It is a great position to be in as a seller. As a buyer, the opposite is often the case. In many locations, we are seeing several buyers with interest in the same property which often leads to multiple offers on one home and often the sale price ending up higher than the list price.

Overall, we are looking forward to a strong year for real estate. Interest rates are projected to rise but not until late in the year. The volume of sales over the year will only be held back by the shortage of homes available to the marketplace. If you are thinking of selling, the conditions are ideal for you to maximize the value of your home. Contact us today for a Free Home Evaluation at 905.332.9223 or click here.

 

Best regards,

Drew and Jayne Woolcott
905.332.9223
drewandjayne@woolcott.ca

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