Even though Hamilton real estate is expected to become one of the hottest markets in Canada in terms of price increase, The Conference Board of Canada says there is a reasonable balance in the market between buyers and sellers. Hamilton reported 15,100 sales in December against 19,500 listings at an average price of $452,000.
The conference Board projects Hamilton Real estate prices will increase by 7% in 2016, putting it in the same category as pricey markets as Victoria, Vancouver, Fraser Valley, Toronto and Oshawa,
The overall sales trend in December was down, with 14 of the 28 markets covered registering a monthly decrease. Most of the dips were small; only 5 markets suffered a drop of at least 5 per cent. E with fewer sales. Calgary, St. Catharines, and Trois-Rivières saw particularly large listings hikes.
The fall in sales reduced the sales-to-listings ratio between November and December in 17 areas. Balanced conditions prevailed in 16 markets including Hamilton. Vancouver, the Fraser Valley, London, and Windsor experienced sellers’ conditions last month.
Price advances remain red hot in Toronto and Southern B.C., but prices in other areas—notably Alberta, the Prairies, Northern Ontario,and Atlantic Canada—are weaker.