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HOUSING MARKET NEWS for Hamilton-Burlington
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Sales Normal for September
| October 5, 2010 – Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 1046 units sold in September, indicating a decrease of 13.5 per cent from the same month last year but an increase of 2.8 per cent over August of this year, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB). Total unit sales for the first three quarters of 2010 are being reported at 5.4 per cent higher than the same period last year, while new units listed are 13.3 per cent higher year-to-date.
“The number of sales we saw in September is pretty much on par with the levels of sales for Septembers over the last eight years, last year excepted,” said Joe Ferrante, RAHB President, “Our year-to-date sales are still ahead of last year’s, although the gap is closing as the year progresses.”
Residential properties sold during September totalled 1007 which included 813 freehold properties and 194 condominiums. Commercial sales for September, including industrial, farm, vacant land and business, totalled 39 units.
The average price of freehold residential properties sold in the month of September was $336,351, an increase of 3.4 per cent over September last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
In the condominium market, the average price of condominiums in September was $233,596, an increase of 1.7 per cent over September 2009.
The total number of units listed for sale during August was 1935, which is a 17.2 per cent increase over the number listed in the same period in 2009.
“We continue to have a very good inventory of properties on the market” added Ferrante, “which means there is excellent choice for those looking to live and invest in Hamilton.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.
courtesy of: REALTORS® Association of Hamilton-Burlington
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It's been a good year so far
| September 7, 2010 – Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 1021 units sold in August, indicating a decrease of 9.5 per cent from the same month last year but an increase of almost 2 per cent over July of this year, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB). Total unit sales for the first eight months of 2010 are being reported at 8.1 per cent higher than the same period last year, while new units listed are 14.4 per cent higher year-to-date.
“Our August sales are being measured against a very strong August market last year,” said Joe Ferrante, RAHB President, “but are still entirely in the realm of normal August numbers. Year-to-date numbers indicate that we can still expect to see higher sales at the end of this year compared to last year.”
Residential properties sold during August totalled 978 which included 783 freehold properties and 195 condominiums. Commercial sales for August, including industrial, farm, vacant land and business, totalled 43 units.
The average price of freehold residential properties sold in the month of August was $318,904, an increase of 1.7 per cent over August last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
In the condominium market, the average price of condominiums in August was $223,154, an increase of 3.4 per cent over August 2009.
The total number of units listed for sale during August was 1591, which is a 13 per cent increase over the number listed in the same period in 2009.
“According to the revised housing forecast issued by the Canadian Real Estate Association (CREA), we are expecting a downward trend through the fall,” added Ferrante, “but we still expect to come out with a decent year, sales-wise.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.
courtesy of: REALTORS® Association of Hamilton-Burlington
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Good inventory of listings – it’s a great time to buy
| (August 5, 2010 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1002 units sold in July, indicating a decrease of 26.7 per cent from the same month last year and a decrease of 26 per cent from June of this year, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).“July was certainly a quiet month for sales,” said Joe Ferrante, RAHB President, “but it was not at all unexpected. Despite the slower sales in July, our year-to-date sales are still up 10.7 per cent over this time last year.”Residential properties sold during July totalled 965 which included 755 freehold properties and 210 condominiums. Commercial sales for July, including industrial, farm, vacant land and business, totalled 37 units.The average price of freehold residential properties sold in the month of July was $329,317, an increase of 5.5 per cent over July last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.In the condominium market the average price of condominiums in July was $237,304, an increase of 1.6 per cent over July 2009. The total number of units listed for sale during July was 1622, which is about even to the number listed in the same period in 2009.“We have a good inventory of listings,” added Ferrante, “which makes Hamilton, Burlington and our outlying areas such a great place to buy real estate right now.” Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses. courtesy of: REALTORS® Association of Hamilton-Burlington
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Good market strength in first half of 2010
| (July 7, 2010 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1359 units sold in June, indicating a decrease of 15 per cent from the same month last year, and a decrease of 6 per cent from May of this year. The total unit sales for the first six months of 2010 are being reported at 18.7 per cent higher than the same period last year, while new units listed are 20.7 per cent higher than last year at this time, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).
“June’s sales are down from last year’s record-breaking month,” said Joe Ferrante, RAHB President, “but the strong numbers in the early months of the year still brings our year-to-date sales ahead of last year at this time.”
Residential properties sold during June totalled 1,305 which included 1,036 freehold properties and 269 condominiums. Commercial sales for June, including industrial, farm, vacant land and business, totalled 54 units.
The average price of freehold residential properties sold in the month of June was $331,056, an increase of 5 per cent over June last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
In the condominium market the average price of condominiums in June was $249,227, an increase of 13.5 per cent over June 2009.
The total number of units listed for sale during June was 2072, which is 22 per cent more than were listed in the same period in 2009.
“With a good inventory of properties available,” added Ferrante. “Hamilton, Burlington and our outlying areas remain a great place to buy real estate.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.
courtesy of: REALTORS® Association of Hamilton-Burlington
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Market Starting to Settle
| (June 4, 2010 – Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 1451 units sold in May, an increase of 8.8 per cent over May of last year, according to the Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).
When compared to April of this year, May’s total unit sales were down 5.5 per cent.
“The market is beginning to settle a bit,” said RAHB President Joe Ferrante. "We saw big highs in both the numbers of listings and sales in March and April, and now we are seeing how things will probably be continuing for the next few months.”
Residential properties sold during May totalled 1406, which included 1114 freehold properties and 292 condominiums. Commercial sales for May, including industrial, farm, vacant land and business, totalled 45 units.
The average price of freehold residential properties sold in the month of May was $339,484, an increase of 8.5 per cent over the same month last year and an increase of just under one per cent over last month.
In the condominium market, the average price of condominiums in May was $224,707, a decrease of three per cent compared to May, 2009 and a decrease of slightly more than two per cent from last month. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
May’s total average residential sale price increased six per cent over the same month in 2009.
The total number of units listed for sale during May was 2370, which is almost 33 per cent higher than were listed in the same month in 2009.
“This is still a strong market by any measure,” added Ferrante, “and is performing pretty much as we expected.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sales of businesses.
courtesy of: REALTORS® Association of Hamilton-Burlington
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