Have you been thinking about putting your home on the market? If you’re like many sellers, you may be wondering whether to sell now, or wait until the timing is perfect. The good news is, if you live in Hamilton, the right time might be now.
If you’ve been thinking about selling your Hamilton home, here’s why you should consider doing so sooner rather than later…
It’s a seller’s market
The numbers are in for September, and they’ve highlighted what real estate agents already knew: the Hamilton market is hot. The average sale price for the month was $881,656, up 5 per cent from the previous month and 22 per cent from September of last year. That’s good news if you’re thinking of selling—it means buyers are willing to pay a pretty penny for the right property.
While it’s true that home sales were down, active and new listings plunged even lower. That means there are more buyers than sellers in the market right now. In other words: there’s plenty of demand, and you may find that multiple buyers are vying for your property.
Of course, the state of the market is just one piece of the puzzle. There are a few other factors that make it a good time to sell in Hamilton. Let’s take a closer look.
Gearing up to sell your home? Whether this is your first time or you’ve been through it before, get prepared with some of our selling resources!
- How Sellers Can Make the Most of a Hot Market
- 5 Seller’s Mistakes to Avoid
- Why You Should Work With a Local Agent
There’s a buzz about the city
As a local resident, you probably know that Hamilton has moved past its former steel-town reputation to become one of the country’s trendiest locales. Well, there’s a lot more where that came from!
The city’s “it” status is about to be further solidified. From new revitalization efforts to transit upgrades, Hamilton just keeps getting better and better. As a result, we can expect more buyers from the GTA (and beyond) to come calling.
To start with, there’s the upcoming construction of light rail transit (LRT). LRT is a quick and cost-effective mode of transportation, and it’s going to make getting around the city much easier. Not only that, but Hamilton’s GO Train lines are expanding. Future plans include more service to West Harbour Station and the upcoming construction of Confederation Station.
Speaking of West Harbour, it’s going to be one of the city’s most exciting communities. An impressive $140 million is going into redeveloping this mixed-use, waterfront area. It will feature beautiful homes, parks, recreation…even food trucks and concessions.
Another exciting step forward will be the opening of AEON Bayfront Studios, a large hub for film and television productions. Once this happens, we can expect to see an influx of industry professionals in the city. It’s just one more way that future development is likely to boost housing demand.
Trying to decide on the next place to call home? Check out Hamilton’s Top 5 Up-and-Coming Neighbourhoods to get some ideas.
Young buyers are moving up
A May report from Teranet states that nearly 70,000 Ontarians moved to the suburbs during the pandemic—and that number is likely even higher now. It’s no surprise. For months we’ve been hearing about Torontonians who have opted for more square footage and a yard during lockdown.
While Hamilton is a lively city in its own right (and home prices here have risen in recent years), it’s still more affordable than Toronto. That’s something that many young Torontonians are keeping in mind as they continue to reconsider their current lifestyles.
So if you’re planning to sell your home in Hamilton, you might just find that the buyer pool is a little larger than you expected.
The best time is your time
It’s true that timing can make a difference in real estate. That said, the ideal time to put your home on the market is when you’re ready to do so. Being fully committed to (and even excited about) selling can lead to a better experience and result.
At the end of the day, a real estate agent with a proven track record can help you get a great price no matter when you sell.
If you’re getting ready to take your next step, why not start by learning your property value—and what we can do for you?
Interested in talking to us about your sale? Get in touch by setting up a consultation with our team here!
