This week, our appointment centre booked nearly 3000 total appointments representing a 4.6% increase compared to last week. This increase in August marks the second highest increase week-over-week for the second week in August and top 5 percentage increases in last 6 years for weeks in August. This indicates a shift in the market as mortgage rates are reducing and buyers are out comparison shopping again.
The appointment/sold index dropped to 11.5, which is a new trend for August which is usually a month where appointments increase related to sales, with the 6 year average being 16.8 showings per sale in August. New listings and solds are both seeing an increase for this week, where sales are slightly higher than the average weekly sales for August in ‘21, ‘22 and ‘23.
Our top price ranges remained fairly consistent to previous weeks with a few changes to note. In Hamilton, the $1-2M range remained at #1 but the $750-800k range that previously held the #4 spot was usurped for the lower $550-600k range. Halton saw the $950k-1M range re-emmerged at #5 after being dropped from the chart altogether since the week of July 14-20, 2024. Finally, Niagara had the $1-2M range return to #4, and the lowest range in the region, $450-500k, at #1.
