Robert Budnikas - Right at Home Realty

06/19/2024

🏡📉 Real Estate Market Report: Oakville and Milton 📉🏡

Market Overview:
The real estate market in both Oakville and Milton has seen a decline. Here's a summary:

📉 Sales Volume Decline:

The number of sales in Oakville and Milton has decreased, indicating reduced market activity.
🏠 Price Adjustments:

Both median and average sale prices have shown adjustments, reflecting a potential cooling in the market.
⌛ Increased Days on Market:

Properties are staying longer on the market, suggesting a shift towards a buyer's market with less urgency in purchasing decisions.
Overall, the data highlights a declining trend in the real estate market for both Oakville and Milton. This may present opportunities for buyers as they navigate through more options and potentially better negotiation terms.

06/19/2024

📉📊 The REALTORS® Association of Hamilton-Burlington (RAHB) reports 1,032 sales in May, a 20% drop from last year and 31% below the long-term average. This decline spans all property types, offsetting earlier gains and resulting in a 3% year-to-date sales decrease.

📈🏡 New listings rose, reducing the sales-to-new-listings ratio to 46% in May. The biggest spike was in homes over $1,000,000. Reduced sales and more listings boosted inventory by 56% from last May, the highest since 2018.

💬 "Inventory is up across all price ranges, especially in higher-priced homes. High-interest rates are driving more sellers to list, but also making affordability a challenge for buyers.

🏠 The market is balancing out, with May’s average Burlington home price coming in 3.54% higher than the previous month and Hamilton home prices dropping 2%.

06/08/2024

Multi-Generational Homes: Is this the Answer? https://bit.ly/3VwNAT9

Explore the pros and cons of multi-generational housing and the impact on Canada's housing crisis. Is it the First Time Home Buyer Solution?

05/29/2024

Understanding Chattels in Real Estate https://bit.ly/3USQFeS

Explore the essentials of real estate chattels: movable personal property included in property sales, crucial for understanding asset transfers.

05/28/2024

Prep and Sell: 13 Tips on Preparing Your Home for Sale in 2024 https://bit.ly/48kODcT

Selling your home in the expansive Greater Toronto Area, which includes areas like Burlington, Oakville, Milton or Hamilton, can be a significant and often emotionally taxing undertaking, regardless of the circumstances. To maximize your home’s selling price, extensive preparation may be necessary...

05/28/2024

Limiting Mortgage Leverage Ahead of Rate Cuts https://bit.ly/3V1uW4q

There has been a lot of speculation around an upcoming Bank of Canada Interest Rate Cut and as everyone is focusing on what the media is telling them, outside along the periphery, many of you are missing the elephant in the room. As much as everyone hopes that interest rates will begin to drop, but....

05/28/2024

Is Co-Buying Real Estate Right for You? A Guide for Young Ontarians Facing the Real Estate Crunch https://bit.ly/3KjYvt9

Explore the pros and cons of co-buying real estate in Burlington with family.

05/18/2024

Oakville-Milton and District MLS® home sales continue to post consistent growth in March. Get this report sent directly to your inbox. Click Here: https://bit.ly/3WbLkS1

The MLS® System of the Oakville-Milton and District Real Estate Board recorded 287 homes sold in March 2024, a 5.9% drop from March 2023. Sales were 31.1% below the five-year average and 32.9% below the 10-year average for March. Year-to-date sales reached 702 units, a 9.3% increase from 2023.

"Despite a year-over-year decline in March, home sales showed resilience with a third consecutive monthly increase," said Anthony Danko, President of the Board. "New listings rose slightly from last year but remained below historical levels. Active listings exceeded the five-year average, indicating balanced market conditions as we enter the busy spring period."

The MLS® Home Price Index (HPI) showed the overall composite benchmark price at $1,290,800 in March 2024, a 1% decrease from March 2023. Single-family home prices rose 0.7% to $1,527,900, townhouse prices increased 2% to $884,800, and apartment prices were nearly unchanged at $655,500.

05/18/2024

SALES ACTIVITY SLOW AS NEW LISTING RISE; PRICES TREND UP OVER LAST MONTH, BUT REMAIN BELOW LAST YEARS LEVELS. To get this report sent straight to your inbox, visit https://bit.ly/3xS42nWThe

REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,041 sales in April, seven per cent fewer than in 2023 and well below long-term trends for the month of April. Despite the pullback in sales over the past two months, year-to-date sales are comparable to those recorded in 2023. Apartment home sales reported a modest decline compared to 2023, which was offset by rising sales for semi-detached and row-style units.

New listings rose to 2,085 units in April. The sales-to-new listings ratio reduced to 50 per cent, driving further inventory gains. Inventory levels rose across all property types and price ranges. While the gain in inventory levels is significant compared to 2023, it is important to note that inventory levels have been exceptionally low for most of the past decade.

Rising inventory compared to sales impacted the months of supply, which trended up over March and last year’s levels. Last April, both Hamilton and Burlington reported that their monthly supply was below two months, with the tightest conditions in the Burlington region. Interestingly, while these centres still have the tightest market conditions, they report the most significant year-over-year gain.

“Higher lending rates continue to weigh on potential purchasers, with some delaying any decision until later this year. At the same time, we continue to see new listings rise, providing more choice in the market and preventing any significant shifts in home prices,” says Nicolas von Bredow, President of the REALTORS® Association of Hamilton-Burlington (RAHB).

The unadjusted benchmark price trended up over March, reaching $859,600 in April. Despite the monthly gains, prices were just over one percent lower than levels reported in April 2023. Prices trended up over the last month across all regions in the RAHB market area. However, Haldimand County is the only area that reported a year-over-year price gain.

04/23/2024

🏡 Attention Burlington residents! 🏘️ If you've been keeping an eye on the real estate market, here's a quick update for you. Prices in the Burlington area have seen a slight decrease recently. 📉 While this may be a good opportunity for buyers, sellers should stay informed and adjust their strategies accordingly. 📉💰 Don't miss out on this valuable information - stay tuned for more updates and tips on navigating the Burlington real estate market! 🏠💼 Want Burlington stats sent right to your inbox? Visit https://bit.ly/3xS42nW

11/21/2023

Check out my latest blog post: What are the best paint colours to add value to your home?

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