Friday, July 26, 2019
Real Estate Market
Two infographics released yesterday and shown below, reveal the hottest housing markets within Hamilton and Burlington, evidencing how most nieghbourhoods in both cities are sizzling sellers markets and which are not, as hot, or in rare cases, favor buyers.
Both Hamilton and Burlington have seen explosive growth over the past decade, with 147% growth for Hamilton and 31% for Burlington and demand continues to rise. Sources indicate “Surging demand in these cities is likely driven in part by their comparable affordability; despite home prices more than doubling over the past decade in each, the average hit $526,762 in Hamilton and $738,905 in Burlington in June – considerably lower than the average of $915,481 in the neighbouring City of Toronto.”
Although significantly lower house prices than Toronto are certainly attractive and may indeed be a large contributor driving-up interest in both cities, buyers are now more likely to face steeper competition, “as new data reveals Hamilton and Burlington remain steeped in scorching sellers’ markets.”
Burlington’s Hottest Neighbourhoods – Infographic
Most Popular Hamilton Markets Located On Mountain – Infographic
Curious what your house is worth or thinking about selling? Call or email me today for a free consultation and home evaluation!
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Original source: https://www.zoocasa.com/blog/buyers-sellers-markets-hamilton-burlington-june-2019/