Home
Listings
Opus Listings Active Listings
Services
Investing Selling Buying
News Centre
Subscribe Investors Flippers Market Reports
Tools
Property Search City Profiles Resources Mortgage Calculator
The Team
Opus Team Contact Testimonials

 

The Opus Team

 

Keller Williams

 

MARKET REPORT

October 2023

 

September Sees A Surge In New Listings As Sales Slow

September Months Of Supply Reached The Highest Seen Since 2012
October 2023 | September 2023 Stats

 

 

 

Hamilton, ON (October 3, 2023) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 620 home sales in September, the slowest level of activity seen for this month since 2010. The 18 per cent decline in sales was met with a surge in new listings. The combined impact of lower sales and higher new listings caused the sales-to-new listings ratio to fall to 30 per cent. There was a 19 per cent gain in inventory, which is 12 per cent higher than last year.
“Increases in lending rates have prompted prospective buyers to delay purchasing decisions. Lending rates may have sparked anxiety among existing homeowners, motivating them to list their properties. A surge in new listings, relative to sales, has led to a pronounced rise in overall inventory levels,” says Nicolas von Bredow, RAHB President.
Inventory levels rose across all property types and price ranges. The sudden shift, coupled with easing sales, caused the months of supply to grow to nearly five months in September. This is up almost two whole months compared to August.
In September, the unadjusted benchmark price fell to $854,200, a monthly decline of one per cent. Despite the monthly decrease, levels remain higher than the $838,300 reported last September and the $581,500 reported pre-pandemic.

 

 

Market Statistics by Region

Please click the buttons below to access RAHB’s new monthly analysis packages by area:

Specific neighbourhoods within the overall RAHB market see results that often differ from the entire RAHB market area. Neighbourhoods vary and determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

**Months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

**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. Talk to your local REALTOR®.

RAHB

 

 

Forward To A Friend

 

 

The Opus Team


MLS


Keller Williams

Andrew

Andrew Bridgman

Sales Representative

416-414-6836

The Opus Team

Keller Williams


Complete Realty, Brokerage

1044 Cannon St E, Hamilton, Ontario, L8L 2H7

Office: (905) 308-8333

Derek

Derek Keyes

Sales Representative

416-303-9030

THE OPUS TEAM

PRIVACY | TERMS | CONTACT

       

© 2014-2023 THE OPUS TEAM. KELLER WILLIAMS COMPLETE REALTY, 1044 Cannon St E, Hamilton, Ontario, CANADA L8L 2H7. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN LAWYER, ARCHITECT OR ZONING EXPERT.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.