Feb 2023 Residential Stats for Burlington and Hamilton (RAHB Market area) скачать в хорошем качестве

Feb 2023 Residential Stats for Burlington and Hamilton (RAHB Market area)

Are you looking to buy or sell a home in Burlington, Hamilton area than this video will be helpful for you to understand what is going on in the market right now. I'm going to share with you the stats for February 2023 and explain what these numbers means. Hi everyone, my name is Zafar Iqbal and I am a realtor based in Burlington, serving Oakville to Brantford area. I am member of both Realtors Association of Hamilton, Burlington and Toronto Real-estate Board. I have access to market data of properties listed and sold in Greater Golden Horseshoe Area(GGHA). If you want to know what is going on in our local real estate market subscribe to my YouTube channel and email newsletter using the link in the description. You can also follow me on social media platform for real estate related tips. And don't forget to hit that like button if you're getting value from my content. Here is the snapshot of residential data for the region. In the month of February, the average price in the REALTORS Association of Hamilton-Burlington (RAHB) market area is down by 22.9% compared to last year that is to a dollar amount of $845,892. Breakdown by property type is something like this: Detached home average price is down to $911,600, which is 23% decrease from last year. Semi detached home average price is down to $783,000, which is 24% decrease from last year. Row townhouses average prices dropped to $683,200, it is 21% decrease from last year. Condo/Apartments average prices decreased to $524,100, that is 12% decrease from last year. February 2023 had 765 sales across the REALTORS Association of Hamilton-Burlington (RAHB) market area. This is 37.3% per cent less than the same time in the previous year. Most of the decline was observed in the higher end of the market. The homes priced below $800,000 represented the majority of sales. New listings also fell to 1,203 units in February, 27 percent below the same time last year. Although Inventory levels Increased to 1652 units that is a 137% increase, higher than last year, but they are still below levels reported for this time of year before the pandemic. You can view the whole report for RAHB market here https://drive.google.com/file/d/12egm... The reasons behind all these changes can be summed up as following. Due to high interest rates the affordability is impacted. The demand for the lower priced properties has increased and demand for high value properties is decreased. Also, the owners of high valued properties comprising mostly detached houses currently locked in low-rate mortgages are reluctant to sell as new mortgage rate would mean higher monthly payment. This has impacted the detached sector hardest. It is observed that for the second month in a row, un-adjusted benchmark prices trended up over the previous month. This may indicate that prices are starting to stabilize. Prices in February 2022 were perhaps the most competitive of all time. Lower entry level homes are having multiple offers again, and some may be selling 30-50k over asking. It seems that market is picking up. If you are a first-time home buyer, it may be a good time to buy as the prices are lowered but may not stay lower for long time. I will say if anyone is looking to buy and sell just make sure it makes sense for you and your family. Everyone’s situation may be different so do you due diligence before deciding to buy or sell a property. Also, if you are the owner of high value property and if you don’t need to sell may be hold on to it. But if you decide to sell you can still sell it as long as the property is priced right and marketed properly. With market data of recently listed and sold property I can prepare a comprehensive comparative market analysis report just for you to help you decide an appropriate value of your property. If you would like me to help you in anyway, please contact me I would love to talk to you and provide a free consultation. Take care have a great day. Do you have any questions about home buying process! Send me a msg and i will send a free home buying guide. Reach out for a complimentary consultation. Call or text 905-962-9535 Sales Representative International Realty Firm, Inc., Brokerage Zafar.iqbal@goldenhorseshoerealty.com www.goldenhorseshoerealty.com Sign up for free reports and tips https://www.goldenhorseshoerealty.com... . . . . . #realestate, #Oakville, #Burlington, #Hamilton, #Brantford, #Milton, #Cambridge, #grimsby, #niagara, #stoneycreek, #realestatetip, #homebuyingprocess, #realestateexpert, #homebuyer, #newhome, #homebuyertips, #firsttimehomebuyer