Much has been written in the past several years about the upward movement of the Hamilton housing market—a home in Toronto has become unattainable for many, Hamilton in contrast offers a wealth of affordable homes (and fixer uppers and new condo development and urban or the smaller town feel of Dundas, Ancaster and then there’s Waterdown, another target for many) in a city that is rapidly changing, a revitalized core, gorgeous waterfront, new GO Transit and more.
The Conference Board of Canada reported last week that our market will remain hot, others across Canada may cool but not the Hamilton area. The Board noted precisely what we’ve seen on the ground here: this is simple supply-and-demand, there are more buyers than sellers and this is not going to change anytime soon. The GTA continues to grow and it continues to be unaffordable for many, enter Hamilton. It is a sellers market, as a buyer you could wait for the market to cool but if you were previously looking in Toronto and waiting for that to cool, well, we know how that turned out.
The Board’s analysis noted 17 of 28 major real estate markets across Canada are cooling, but the demand in Hamilton remains strong.
Dundas and Ancaster: both offer that smaller town feel (Dundas in particular with its charming Victorian downtown area). Hamilton’s downtown has done an about face with a tremendous number of new entrepreneurial ventures, restaurants, cafes, a strong arts community, and some amazing new condo developments led by the phoenix—the grand Royal Connaught Hotel development. Head to the east end of Hamilton and you find amazing opportunity, fine old homes and if fixing up is on your mind…a detached house for $175,000, $200,000? Yes it’s possible.
And it’s not just the Conference Board of Canada, statistics from the Realtors Association of Hamilton-Burlington support the exact same conclusion, those of us on the ground will echo.
The end of September saw 10% fewer properties left on the market as compared to September 2014; properties are also moving faster, last year average days on the market was 39, this year it’s 33.
Selling? Buying? Not sure?
If you have questions about the market here, or the region, reach out, we’re happy to help where we can.
Buy. Sell. Relax.
Dundas, The Valley Town