With 2017 drawing to a close, the real estate agents at The Woolcott Team already have their eyes on 2018. And, according to the National Housing Outlook 2018 developed by Re/Max, it’s set to be a strong year in the Burlington-Hamilton market.
“2017 was a great year for sellers and buyers in Burlington, and we’re looking forward to an exciting 2018,” says Drew Woolcott. “Activity in the Hamilton-Burlington area is anticipated to be brisk in 2018 as both first-time buyers and retirees are expected to drive demand and in turn, create opportunities throughout the market for move-up buyers,” continues Woolcott.
A forecasted increase of 4 percent in residential sale prices in the Burlington-Hamilton board is a major factor in the continued growth of the market. “Burlington’s and Hamilton’s appeal to Toronto buyers should not be downplayed,” says Woolcott. “The strong economy, relative affordability compared to the GTA and proximity to key areas continue to attract buyers looking to buy a home.”
Woolcott also says the OSFI mortgage qualification that comes into effect in January 2018 will also drive buyers west – particularly in the region’s upper-end and entry level markets. Condos will also experience strong activity in 2018 as both retirees and first-time buyers turn to these housing options.
Want to know what your home could sell for in 2018? Call the Woolcott Team at 905 689 9223 today for your for your free home market evaluation.