ANCASTER REAL ESTATE 2018 PROPERTY FORECAST

HOUSE PRICES


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In 2018 561 homes were sold in ANCASTER and the average price was $738,972.  

For 2019 property forecast, home values in Ancaster and Hamilton Ontario please contact WALDI & MARGARET NIBURSKI HERE... 


CLICK HERE...FOR HAMILTON MOUNTAIN 2018 HOUSE PRICES, PROPERTY FORECAST


CLICK HERE...FOR STONEY CREEK ONTARIO 2018 PROPERTY FORECAST

 

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CONTACT WALDI & MARGARET NIBURSKI

The latest RAHB statistics reported that the sales in May 2018 were down close to 30%.


The average price of freehold properties as well as condos declined.






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Ancaster real estate market rode a real rollercoaster in 2017.

The first few months of 2017 were very frenzy with homes sold for prices much higher than the asking prices. It truly was a red hot market.

Then in April, provincial government introduced some measures to cool the market down. Ancaster and Hamilton real estate market went from a strong, prolonged sellers market (with the average time to sell the property was 14 days) to a more balanced market.

Since April 2017 house prices in Ancaster are on decline trend. Sales since April were down and listings are up.

ANCASTER ONTARIO AVERAGE HOUSE PRICES FROM 2006 TO 2017

IN 2017 AVERAGE HOUSE PRICE IN ANCASTER WAS $770,255

APRIL MARKET TURNAROUND IN ANCASTER AND HAMILTON RESULTED IN MORE LISTINGS, LESS SALES BUT YEAR OVER YEAR (2016/2017) HOUSE PRICES INCREASED IN ANCASTER BY 14%.

MOST POPULAR STYLES OF HOMES IN ANCASTER AND THEIR PRICES IN 2017.

  STYLE   LIST PRICE   SELLING PRICE     PRICE PER SQFT   DAYS ON THE MARKET 
BUNGALOW       $788,907       $783,627            $500                     28 
 2 STOREY     $956,345       $947,455            $345                     34


PLEASE CONTACT WALDI & MARGARET NIBURSKI FOR STATS AND INFO REGARDING DIFFERENT

STYLES OF HOMES IN ANCASTER AND THEIR PRICES PER SQUARE FOOT.

MOST POPULAR TYPE OF HOMES IN ANCASTER AND THEIR 2017 PRICES

TYPE OF HOME  LIST PRICE  LP/SQFT LIST PRICE PER SQARE FOOT  SELLING PRICE DOM  DAYS ON THE MARKET
  DETACHED  $884,503  385  $877,543  31
  SEMIS SEMI-DETACHED  $544,821  352  $539,111  22
  TOWNHOUSE  $524,539  328  $524,854  22

DIFFERENT TYPE OF HOME OWNERSHIP IN ANCASTER AND THEIR PRICES IN 2017

CONDOS VS FREEHOLDS

TYPE OF OWNERSHIP  LIST PRICE    SELLING PRICE   LP$/SQFT   DOM DAYS ON THE MARKET
   FREEHOLDS   $884,503  $877,543   386   31
   CONDOMINIUM TOWNHOUSE   $527,840   $527,700   331   20
   CONDOMINIUM APARTMENT   $407,511   $396,911    391   39

END OF THE YEAR HOME & CONDO PRICES IN HAMILTON ONTARIO

CLICK HERE...FOR 2018 HAMILTON ONTARIO PROPERTY FORECAST

3 THINGS TO EXPECT IN ANCASTER HOUSING MARKET IN 2018:

1. Ancaster housing market was a strong Seller Market for a long time.  In 2018 we can see the same trends to continue. Buyers will take longer to purchase the property.  Homes will stay longer on the market. It will be a balanced market. The number of sales may decrease in comparison to 2017 and the number of listings will increase.

2. We can expect some impact of the stress test that every buyers will  have to pass on their mortgage application starting January 1st 2018.  Banks will qualify the buyers based on whether they could still afford their monthly payments if interest rates were 2 per cent higher. This could allow fewer buyers to qualify for loans. This plus hike in the interest rate (Bank of Canada already hiked the interest rate by 0,25%) could bring prices of homes in Ancaster lower as sellers find fewer buyers be able to pay premium prices for their properties.

To qualify, buyers might have to lower their prices range by 15%-20% and consider different, cheaper neighbourhood.

3.We predict that house prices in Ancaster might slightly decline in 2018 however, it will not be a significant drop.

PLEASE CONTACT WALDI & MARGARET NIBURSKI FOR ALL YOUR REAL ESTATE NEEDS IN ANCASTER ONTARIO.

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