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SUPPLY CONTINUES TO DROP IN NOVEMBER

Hamilton, ON (December 2, 2021) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,199 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in November 2021.

Sales decreased by nearly ten per cent since last month, and they were down three per cent since November 2020. New listings also decreased by ten per cent since last month and they were also down three per cent since last November.

The average price for residential properties was $911,673 which was a decrease of one per cent from last month compared to an increase of nearly 27 per cent from November 2020. The inventory available dropped even further to 0.5 months of inventory.

GTA Home Sales Hit New November Record While Listings Drop

Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

GTA REALTORS® reported 9,017 home sales through TRREB's MLS® System in November 2021 – 3.3 per cent above the November 2020 result, setting a new record. In contrast, new listings were down by 13.2 per cent year-over-year, with double-digit declines for low-rise home types, and condominium apartments.

“It’s a competitive home buying market and advantageous home seller’s market. If you or someone you know are thinking of buying or selling a home in this highly competitive market, you need to….

Call MARKOU & FELTHAM today!