This week in the appointment centre, we saw a drop of 9.2% in weekly appointments compared to last week. Since 2019 there have only been 8 weeks where appointments dropped 9% or more, with the first week of April 2022 representing the largest drop of nearly 23% in one week, a month after the first mortgage rate increase. As usual, our busiest day was Friday with just over 500 appointments booked. Despite the weekly decrease in appointments, our monthly numbers are showing a significant 27.8% increase in appointments so far this month compared to the same period in November 2023.
This week, our appointment/sold index jumped to 11.1 which is almost where the index was 4 weeks ago before the BOC rate decrease. Both solds and new listings have dropped below 300, and solds continue to surpass new listings by just 1.6%.
As usual, our top price ranges remained fairly consistent to previous weeks with some small changes of note. The 1-2M range is still on top in Hamilton and Halton, but has dropped from the chart altogether in Niagara in favour of much lower ranges. In addition, the $550-600k range remains at #1 in Niagara for the second week in a row. In Hamilton, we saw the $450-500k range appear at #5 in Hamilton, which is a lower range than what we usually see for tis area. Finally, the $850-900k range climbed to #3 in Halton, displacing the much lower $450-500k range.
