Market Commentary February 2022
A view form Durand South, Hamilton, ON
I hope you're having a great start to your weekend and restful March break.
This summer marks 5 year since my family and I moved to Hamilton, ON. It was a city that we didn't know much about until we drove in for lunch and a look around one spring day. Recently back from 5 years abroad in London. U.K and priced out of the kind of home we desired in Toronto we began to think- out- the -box and stay open to the possibilities of purchasing a home in other towns near by. Our criteria's were simple :
• It needed to feel like a city and offer great art, culture, entertainment and foodie options
• It needed to have a diverse international population
• It needed to be easily commutable to Toronto
• We needed to find an amazing home that didn't require us to live on k.d diners
• A swimming pool and proximity to nature trails and wine country would sweeten the deal.
Not only did Hamilton tick all of these boxes it surpassed our expectations. If you'e thinking of a move to Hamilton or want to invest here, lets have a conversation.
In market news, last month the number of sales rose substantially in Hamilton compared to the previous month. However, the demand for housing continues to drive prices to new heights. The average sale price for all housing types in the Greater Hamilton Area for the first time surpassed the one million mark to land at $1,013,485. Demand for home ownership in Toronto continues to remain strong. February home sales were down compared to the all-time record in 2021, but it was the second-best February in history with the average selling price for all home types up by 27.7 per cent to $1,334,544. Read the full stats for Hamilton Burlington here RAHB and Toronto stats here TREB .
Have a great weekend!
Stella McCollum
