By: Margaret Cameron

October 2018 Market Highlights

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The Real Estate Association of Hamilion and Burlington (RAHB) reported the sales-to-new-listings ratio, which can point to whether a market is in favour of sellers (above 60 per cent) or buyers (below 40 per cent) was 60.1 per cent. This is higher than last month and on the cusp of returning to a seller’s market. For comparison, in October 2017 the ratio was 65.5 per cent.

The Niagara Association of Realtors (NAR) reported that despite the trend of an increase in the average days to sell v.s 2017, it is worth noting that the current average of 38 days to sell is 32.1% lower versus the 56 average days to sell at this time in 2015. The sales price to list price ratio of 97.8% versus 99.7% in 2017 remains relatively steady.

Average sale price is based on the total dollar volume of all properties sold through the RAHB and NAR MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value.