What the HOWELL is Going On? April 24th, 2025 Update
This week, Clinton dives into the depressed GTA condo apartment market - this is an opportunity for buyers! A recent Financial Post article reveals that condos, mostly in the GTA, are currently not seen as a great investment, this as a result of the higher interest rates, declining condo prices, and stalled pre-construction projects causing concern, there haven’t been any new condo launches in Southern Ontario for over a year.
How does all this impact the local condo apartment market? In Burlington, the market has been much more stable compared to the GTA. Since January 2024, we’ve seen some ups and downs, as in all property types, but we are now seeing signs of steady growth. Demand for condo apartments is still strong, making this a great time to explore opportunities, while the supply is high and prices are low. Our expectation is that over the next couple of years, the condo apartment will become a seller’s market, and prices will rise significantly as the ability to launch new projects will be slow to get back on track.
RE/MAX Escarpment/Niagara Appointment Centre: This week, 306 properties sold with 292 new listings—an impressive performance in a market currently defined by a 30–35% absorption rate. We're seeing an incredible 105% absorption, showing that RE/MAX Escarpment and RE/MAX Niagara agents are outperforming the market and still thriving in the current conditions.
On average, it’s taking just 9.3 appointments to get a property sold.
The key in today’s market? Precision pricing. Homes that are priced right and presented well are selling, fast. Strategic pricing is more important than ever to stand out and succeed.
Local Market Updates 📍 Burlington: Active listings and sales remain relatively steady compared to last week, with just under four months of inventory. The market continues to favour buyers, with an absorption rate of around 36%. On average, successfully sold properties take 3 to 5 weeks to sell. While approximately 2/3 of properties are taking longer.
📍 Hamilton: Inventory continues to rise, with over 2,000 active listings currently on the market. A slight dip in sales has increased the months of supply to 4.76, up slightly from last week. Like Burlington, Hamilton remains a strong buyer’s market.
📍 Oakville: Active listings and sales are holding steady week-over-week, with the market maintaining over four months of supply. Across all property types, Oakville remains firmly in buyer’s market territory, offering a wide range of options for prospective buyers.
What the HOWELL is Going On? April 24th, 2025 Update
This week, Clinton dives into the depressed GTA condo apartment market - this is an opportunity for buyers! A recent Financial Post article reveals that condos, mostly in the GTA, are currently not seen as a great investment, this as a result of the higher interest rates, declining condo prices, and stalled pre-construction projects causing concern, there haven’t been any new condo launches in Southern Ontario for over a year.
How does all this impact the local condo apartment market? In Burlington, the market has been much more stable compared to the GTA. Since January 2024, we’ve seen some ups and downs, as in all property types, but we are now seeing signs of steady growth. Demand for condo apartments is still strong, making this a great time to explore opportunities, while the supply is high and prices are low. Our expectation is that over the next couple of years, the condo apartment will become a seller’s market, and prices will rise significantly as the ability to launch new projects will be slow to get back on track.
RE/MAX Escarpment/Niagara Appointment Centre:
This week, 306 properties sold with 292 new listings—an impressive performance in a market currently defined by a 30–35% absorption rate. We're seeing an incredible 105% absorption, showing that RE/MAX Escarpment and RE/MAX Niagara agents are outperforming the market and still thriving in the current conditions.
On average, it’s taking just 9.3 appointments to get a property sold.
The key in today’s market? Precision pricing. Homes that are priced right and presented well are selling, fast. Strategic pricing is more important than ever to stand out and succeed.
Local Market Updates
📍 Burlington:
Active listings and sales remain relatively steady compared to last week, with just under four months of inventory. The market continues to favour buyers, with an absorption rate of around 36%. On average, successfully sold properties take 3 to 5 weeks to sell. While approximately 2/3 of properties are taking longer.
📍 Hamilton:
Inventory continues to rise, with over 2,000 active listings currently on the market. A slight dip in sales has increased the months of supply to 4.76, up slightly from last week. Like Burlington, Hamilton remains a strong buyer’s market.
📍 Oakville:
Active listings and sales are holding steady week-over-week, with the market maintaining over four months of supply. Across all property types, Oakville remains firmly in buyer’s market territory, offering a wide range of options for prospective buyers.
#ClintonHowell #Remax #RealEstate #Burlington #Hamilton #Oakville #MarketTrends #RealEstateUpdate #BurlingtonMarket #HamiltonMarket #OakvilleMarket #MarketUpdate