Helt Real Estate Update - May 2019

We are in the thick of the Spring season and the real estate market is certainly showing it with overall sales picking up. Overall Buyer sentiment remains strong but the results look to be mixed depending on the specific town/city that you are looking at. This is why, it is so IMPORTANT for Buyers and Sellers to review the market trends at the local level for the specific property type that they are interested in. As always, I have broken it down like that here and shared my own summary and thoughts for each market. Reach out if you have any questions are are interested in knowing how I can help you with your real estate needs.

Toronto:

In May the Avg Price for all home types grew by 9% Y/Y while the number of Sales was up 21%. The growth in Prices is coming from the Condo segment where the majority of Buyers reside while the number of sales is being driven by the Detached and Semi-detached markets. ThePriceof a Condo is now roughly 46% the Price of a Detached home. For context, 3 years ago (May 2016), that number was 34%. Condo’s are continuing to get more expensive relative to Detached homes as the majority of buyers don’t have the budget for a Detached home. With new listings down and active listings relatively flat Y/Y, we are likely to see the prices for Condos continue to rise in the coming months.

Burlington:

The Y/Y growth in Sales seen in the prior two months did not continue into May for Freehold homes; with only 219 Sales reported, this is the lowest May on record in over 10 years for Burlington. Conversely, the Condo market is continuing to show positive Y/Y sales growth but the rate has been on the decline. Buyers may be opting to live in other nearby towns such as Hamilton or Oakville which are both reporting continued Y/Y sales growth. Inventory of available Homes & Condos remains lower than last year and at a declining rate compared to prior months. This should help offset the lower demand to keep prices relatively stable.May the Avg Price for all home types grew by 9% Y/Y while the number ofs was up 21%. The growth in Prices is coming from the Condo segment where the 

majority of Buyers reside while the nmber of sales is being driven by the Detached and Semi-detached markets. ThePriceof a Condo is now roughly 46% the Price of a Detached home. For context, 3 years

Hamilton:

In May, we saw Sales and Prices in Hamilton increase Y/Y, maintaining the “Sellers” market status. With the Sales growth accelerating into the double digits for both Freehold homes and Condos, Hamilton is experiencing a typical spring market. The factors influencing this remain unchanged: (1) The ongoing revitalization of the downtown core bringing more attention & appeal to live in Hamilton; (2) The ratio of newly renovated homes coming to market and selling at a premium; (3) The migration of buyers selling their homes in the GTA and moving West for more value. We believe this will continue throughout 2019.budget for a Detached home. With new listings down and active listings

relatively flat Y/Y, we are likely to see the prices for Condos continue to rise in the coming months.