TALL Real Estate Blog – March, 2024

Every time we show homes to our buyers, we are “wet rags”, as it were. We prepare our buyers for this before we take them to see anything. They know, right out of the gate, that we’re not going to be selling them on anything that they see. In fact, we warn them of our (seemingly) counter intuitive approach to buying real estate. We tell them that as soon as they fall in love with “the one”, our job really begins. We will leave no rug unturned in our quest to find everything wrong with the home that we can.

The reason we do this is simple: if you buy your next home while knowing all of the flaws in the home, you’re making a purchase objectively and with confidence, instead of making an emotionally charged decision that you could regret later.

After all, it’s your job to fall in love with the kitchen and imagine the wonderful dinners you’ll enjoy in the dining room that overlooks your private rear yard. It’s our job to let you know that the addition isn’t sitting on a proper foundation, or that the creek behind your rear yard overflows and threatens your basement every spring.

Try as we may, even we couldn’t damper buyers’ excitement in February! Across Hamilton and Niagara, we saw buyer activity increase and inventory drop, as prices begin to climb steadily again.

Here are the numbers for February, 2024 in both regions.

The median home price in February was:

  • ⬆️ Up 4.14% since December, 2023 in Hamilton
  • ⬆️ Up 5.17% since December, 2023 in Niagara

Inventory is dropping as buyer activity increases

  • 🗓️ Hamilton’s inventory sits at 2.4 months or 73 days, down from 87 days in January
  • 🗓️ Niagara’s inventory sits at 3.6 months or 110 days, down from 150 days in January

As always, if you or your family, friends, coworkers or neighbours are thinking about making a move in real estate, we would love to help them. We are never too busy for any of your referrals!