As we move further into July, our appointment centre saw a slight decrease in weekly appointments. Our busiest day was Wednesday rather than Friday with a total of 503 appointments booked that day alone, which brings our total of 500+ Wednesday appointments for the last six months on par with the last full 4 years.
For the last 2 weeks the gap between appointments for the same period remains at -17% when compared to July 2023, a trend to watch as the market begins to normalize for the balance of the year.
The appointment/sold index dropped to 9.7 and our sold properties are nearly on par with new listings this week, a sign that new inventory is priced to the current market conditions. The average gap between sales and new listings over the last 6 years for the last week of July is 27, this week we are well below that at just 8, showing new inventory is on buyer’s radar screens.
We saw some small but notable changes this week regarding our top price ranges. Specifically, Niagara saw the $1-2M drop from the charts entirely as it was replaced by the $750-800k range at #5. Halton also saw some shifts as well, as the $950k-1M dropped from the charts altogether and was replaced with the much lower $550-600k range. Hamilton remained nearly identical to previous weeks with mid and high price ranges occupying the majority of the top spots.
