Monthly Market Minute - May 2021

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by Mike McCarthy0 views·Updated Jun 22, 2021
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  1. So you might have heard that the Hamilton real estate
  2. market slowed down and they right or get it.
  3. I'm mike McCarthy with remax carton real time.
  4. Here's what really happened in May in Hamilton real estate.
  5. The medium price actually went up in May, I'll be
  6. at less than 1% and at 735,000 finished, just a
  7. bit below the high water mark that we saw in
  8. March of 743,000 by whopping 27.8% over May of 2020.
  9. But as we can see from the chart here, the
  10. steep climbing prices, month over month Has stopped over the
  11. past three months.
  12. As far as the number of days to sell goes,
  13. sellers are still enjoying incredibly low number of days on
  14. the market, with the typical property taking still just one
  15. week to sell, which also means the buyers and their
  16. agents still have to stay right on top of the
  17. market or risk missing out on what might have been
  18. a perfect property for them.
  19. We can see here that the number of months of
  20. inventory state at the same level as it was in
  21. April, at just 21 days, which, as you can see
  22. is less than half the amount of inventory as this
  23. time last year, after a couple months of a high
  24. number of new listings, we saw that stat drop off
  25. just a little bit in May, which isn't exactly what
  26. buyers hoping to see since we've been dealing with extremely
  27. low amounts of inventory for the past year.
  28. But what didn't stop or just barely did was the
  29. number of sales in may compared with April and combining
  30. that with a lower amount of new inventory.
  31. We saw the sales to new listings ratio shoot back
  32. up to 80.1% from the relatively low number of 68.6%,
  33. which is still a seller's market number that we saw
  34. in april, which was easily the lowest ratio that we've
  35. seen in the past year.
  36. So did the Hamilton market slow down in May.
  37. Well now the things are opening up and we're having
  38. more gatherings and dinner parties, you're bound to hear somebody
  39. asked this question to which you now have the answer.
  40. And that answer is a resounding no.
  41. Is it the same high heat that we had in
  42. March? Not quite, but it's pretty close.
  43. And if someone asked you who told you so you
  44. don't have to say that I did.
  45. You can simply say that the data told yourself in
  46. a couple weeks we shall see what june has been
  47. bringing to us until then stay safe.
  48. And if you found this interesting or helpful, please give
  49. it a thumbs up.
  50. If you have questions or comments, send me an email
  51. directly or write in the comments section of the social
  52. media. Thanks for your time and I'll talk to you
  53. again here in july.