December 2024

The REINZ reported 228 sales across Hamilton during December reflecting the improving market conditions felt in the last quarter of the year.

First-home buyers continued to drive the market and have been joined by savvy investors keen to secure property ahead of any price rises. This served to drive the median price downwards to $725,000 from $750,000 in November and year high of $775,000 recorded in October.

The number of properties new to market slowed as sellers considered which side of the holiday season to enter the market. Those sellers have been slow to enter the market in January with only 755 houses available at the middle of the month.

This has caused the number of properties being sold in competition to rise. Smart sellers might sense the opportunity and bring their property to market early to take advantage of improving enquiry.