Woolcott: April real estate stats update

April is historically a busy month in the industry as it is right in the middle of the spring market. Many sellers and buyers enter the market during this time – all parties eager to make a move and close before summer holidays.

“The past 18 months have been very busy, with many markets experiencing double digit increases,” says Drew Woolcott. “However, we are starting to see a small shift in the market, which could give some buyers who have felt shut out the opportunity to enter the market.”

According to the Realtors Association of Hamilton Burlington, 1,054 sales took place during the month of April in the Waterdown, Burlington, Flamborough and Hamilton area..

Of those 1,054 sales, 649 were detached homes, 142 were freehold town/ semis, 111 were condo towns and 146 condo apartments.

The average sale price for April sat at $1,017,363, which is a drop from March 2022.

“Detached homes actually experienced an increase of 7.25 per cent in average sale price,” says Woolcott. “It is in the starter markets of freehold towns and semis, condo towns and condo apartments where we are starting to see the prices drop slightly.”

Woolcott says one month of data is not an indicator of a market shift, but that it is something to keep a close eye on if it continues.

Below is a break down of how the numbers in the market shifted from March 2022 to April 2022.

April 2022 Numbers

Average Sale Price = $1,017,363 (1,054 sales)

Detached

= $1,164,134 (649 sales)

Freehold Town & Semis = $918,378 (142 sales)

Condo Towns = $818,391 (111 sales)

Condo Apartments = $637,788 (146 sales)

March 2022 Numbers

Average Sale Price = $1,085,339 (1,296 sales)

Detached

= $1,110,270 (813 sales)

Freehold Town & Semis = $968,850 (181 sales)

Condo Towns = $862,936 (121 sales)

Condo Apartments = $687,729 (168 sales)

The decline in month over month number of sales sales started to drop off at the beginning of 2022, but this is the rst time since June 2020 that prices have also slipped.

how the shift in the market could affect you and your market value or your home purchase? Call Woolcott Real Estate at 905-332-9223 for a personalized market assessment.