Want to sell your home? Now might be a good time

 

If you're looking to cash in on your home, now might be a good time to sell, at least according to one real estate expert.

A report on November’s real estate statics from the Realtors Association of Hamilton-Burlington (RAHB) released earlier this week, found that the number of real estate sales in November are down from the previous two months, but they are in fact up by 5.5 per cent from November 2018.

"As we near the end of the fall market for 2019, the number of sales and the average price within the RAHB market area are down from the previous month, but up from November of last year," said Bob Van de Vrande, RAHB president.

"This decrease in listings and a higher ratio of solds to listings indicate that the market is currently an opportune time for sellers to consider listing."

There were a reported 955 sales of residential properties with the RAHB jurisdiction, which encompasses Hamilton, Burlington, and parts of the Niagara Region and Haldimand County.

The average price for residential properties increased by 5.6 per cent from November 2018 to $591,334, the report says.

There were 1,145 sales in October, with an average price of $602,029, while September saw sales of 1,020 residential properties at an average price of $609,562

In terms of the type of housing seeing action, compared to November 2018, it was up across the board with single-family homes seeing sales up by 6.8 per cent and prices up by 2.7 per cent; townhouse sales have risen by 2.9 per cent and prices have shot up by 6.8 per cent.

For apartment-style homes, things trended a little opposite with sales dropping by 9.3 per cent but prices soaring by 23.2 per cent from November 2018.

This variation, Van de Vrande says, could be due in large part to the fact that there isn't as much apartment inventory available right now.

"The trend for 2019 has been that buyers are choosing more affordable types of properties," he said.

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