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May 2019 Market Update

Wednesday May 8, 2019


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April showers bring May flowers – and often, a hot real estate market!

2019 has been off to a racing start, with year-to-date sales up 8.74 per cent across the Hamilton-Burlington area compared to the same time period in 2018.

“While January 2019 started off slow, the early months of spring have told a different story,” says Drew Woolcott, broker of record, Re/Max Escarpment Woolcott Realty Inc.

In April 2019, Waterdown, Burlington and Hamilton all saw increases in average sale prices over the same time period over last year, at 10.34 per cent, 4.07 per cent and 2.76 per cent respectively.

“What we’re seeing in the market is reminiscent of the frenzy in spring 2017, with multiple offers, a large number of showings and selling over asking, in some cases,” says Woolcott.

Woolcott points out that buyers are more savvy than ever, making it imperative for sellers to ensure their home hits all the marks when it goes to market.

“We often have one chance to reach buyers when a home goes for sale on MLS,” says Woolcott. With buyers making quick decisions, a home has to be priced properly, photos must look sharp and it needs to be marketed properly to reach buyers across the GTA.”

Woolcott says these are all factors that are top of mind when working with clients that are selling.

If you are thinking about listing your home, or are just curious about the value in the current market, click here for your free pinpoint price analysis from The Woolcott Team.