Here’s your weekly snapshot of what happened in the real estate market last week.

Excited to share some good news – we’re starting to see a little upswing in both number of listings and number of sales compared to the last few weeks.

From May 4 to 12, 2020, there were 189 sales and 265 new listings in the Waterdown/Burlington/Hamilton markets. This is compared to 315 sales and 501 new listings in the same time period last year.

If we look at this year-over year, the total number of sales dropped 40%, and the number of new listings dropped 47%. On the surface, these numbers may sound alarming … but we are not in a situation where we can look at thing year by year because the climates are just too different. COVID-19 has us looking at things on a week-to-week basis. And the trend for the past few weeks has been approximately a 60 per cent reduction in both sales and listings.

So what does this mean? Consumer confidence is creeping back in. Improvements in number of sales by 20% from one week to another is a big jump, and indicates buyers are out there and ready to purchase if the right product is there.

For sellers, this means ensuring your home is putting its best foot forward for when it hits MLS. This includes price, photos, video, etc – buyers can be a little pickier now and you only have one shot for a first impression.

Call me at 905 332 9223 with any questions. Stay Home. Stay Safe.