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In August 2023, the Hamilton Park housing market revealed several significant trends. The median sale price for homes in the area surged to $875,000, representing a substantial 16.8% increase compared to the same month last year. However, homes are taking longer to sell, with an average market duration of 42 days, a notable increase from the 24-day average of the previous year. Additionally, the volume of home sales has contracted, with only 7 transactions completed this August, compared to 15 in the same month last year. These trends suggest a complex and evolving market environment. The sharp rise in median home prices could indicate strong demand and a seller's market. However, the longer time homes are spending on the market and the reduced number of transactions may point to buyer caution or a decrease in available inventory. These contrasting indicators call for further analysis to fully comprehend the dynamics at play in the Hamilton Park housing market.
Median Sale Price
# of Homes Sold
Median Days on Market
These are the trends that took the year by storm.
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