Market Commentary November 2022

*Featured property - 61 Harshaw Ave., Toronto, ON | Bed 4+1 Bath 5 Sq 3,500+ List price $3,180,000.*

As this year is coming to an end the Hamilton - Toronto real estate market continues to be impacted by higher borrowing cost. In November inventory is still below the norm and we are seeing signs of a more balanced market as the number of active listings slightly increases. The benchmark price* for residential properties across the Greater Hamilton area was $830,900, down 0.7 per cent from October 2022, and down nine per cent compared to November 2021. This means more choice and negotiating power for Buyers. My glass is half full attitude is that many Sellers will have built up equity in their home and have an advantage if they are purchasing soon.

See the full stats for November 2022, Hamilton Burlington here RAHB and Toronto stats here TRREB .

Wishing you a safe and joyful holiday season!

Stella McCollum