Predictions for the Spring Real Estate Market

With housing prices in the Hamilton area continuing to increase in value with each passing month,  now is the time to invest in real estate.

Spring prediction - Housing prices will continue to increase

In January, the average price for residential properties was $787,840. That’s an increase of 7.9% from last month, and a whopping 27.6% from the same time last year, according to the Realtors Association of Hamilton and Burlington. The increase is being fueled by low inventory, with a shortage of available listings available on the current market. Each reasonably priced home available on the market has a multitude of different buyers, fueling the increase. In 2020, new residential listings were down 7.6% compared with 2019. The increase in property value is expected to continue into the spring, making it an excellent time to make the investment in Hamilton real estate.

Single family home sales will stay strong

In 2020, single family home sales in the Hamilton area increased by 2.7%, an increase we’re predicting will stay consistent throughout the spring of 2021. Detached properties and townhomes outperformed apartment-style properties, the Realtors Association of Hamilton and Burlington reported.

“Buyers are still leaning towards the detached market that offers them more utility and space,” said Donna Bacher, President of the Realtors Association of Hamilton and Burlington.

This move is likely influenced by COVID-19, with more people spending time working from home and at home in general, looking for more square footage to utilize as a workspace or an area to relax.

Market will stay hot

The Hamilton area specifically experienced a 10% increase in sales in 2020, an increase that is expected to continue well into 2021. With many people trading in their current houses for more spacious living arrangements on the outskirts of the city of Toronto, it’s an excellent time to make the decision to invest in Hamilton real estate!

Work with professionals

At Executive Properties Capital, we know that buying or selling an investment property can seem like a stressful process. We can help minimize the stress and be there to guide you through it. We offer real estate partnership opportunities that allow you to capitalize on the power of real estate investing, without the daunting process. We specialize in multi-family properties in order to achieve above average returns on your investment. Contact us today by email at Executiveproperties@rogers.com or through our website here. We would love to help you get started!

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