(October 3 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1286 property sales processed through the RAHB Multiple Listing Service® (MLS®) system in September. This represents a seven per cent increase in sales compared to September of last year.
There were 2017 properties listed in September, an increase of 2.3 per cent over the same month last year. End-of-month listing inventory was 10.3 per cent lower than last year at the same time.
“Sales were the highest we’ve seen for the month of September, ever,” said RAHB President Tim Mattioli. “The strong market seen through the summer is continuing into the fall.”
Seasonally adjusted* sales of residential properties were less than one per cent higher than the same month last year, with the average sale price up 5.3 per cent for the month. Seasonally adjusted numbers of new listings were 1.7 per cent lower than the same month last year.
Seasonally adjusted data for residential properties for the month of September, 2014:
Actual overall residential sales were 6.7 per cent higher than the previous year at the same time. Residential freehold sales were four per cent higher than last year while sales in the condominium market saw an increase of 19.9 per cent.
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1660 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in May. This represents a 4.1 per cent increase in sales compared to May of last year and sets a new record for sales in any month.
There were 2458 properties listed in May, an increase of eight per cent over the same month last year. End-of-month listing inventory was four per cent lower than last year at the same time.
“Spring weather may have taken its time in arriving, but the spring real estate market certainly took off in May,” said RAHB CEO Ross Godsoe. “We didn’t just trip over the record set in 2009; we beat it by 3.5 per cent.”
Seasonally adjusted* sales of residential properties were 8.1 per cent higher than the same month last year, with the average sale price down 1.8 per cent for the month. Seasonally adjusted numbers of new listings were 12 per cent higher than the same month last year.
Seasonally adjusted data for residential properties for the month of May, 2014:
“Having record-setting sales isn’t the whole story,” added Godsoe. “There was also a bump in the number of new listings during the month of May. It wasn’t record-setting, but new listings were higher than the 10-year average for the month. That may account for the slight decrease in average sale price compared to May of last year.”
For the full article go to: http://www.rahb.ca/2014/06/new-sales-record-set-in-may/
2014 Upper-End Market Trends for Hamilton-Burlington report
According to a recent report by RE/MAX, there have been significant gains at the top end of the country’s housing market, which continues to demonstrate the overall strength and resilience of Canadian real estate in 2013.
What’s been propelling the sales of luxury homes in Hamilton-Burlington 2013 residential real estate market are the local buyers accompanied with a surge of buyers from the Greater Toronto Area (GTA). The number of properties sold over the $750,000 price has increased by 31 per cent year-over-year, with 436 high-end homes changing hands in 2013, up from 334 units one year earlier.
“Canada’s luxury housing market has undergone serious transformation in recent years, setting a new standard for lifestyles of the rich and famous,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “High-end homes are commanding top dollar in blue chip neighbourhoods from coast to coast. Condominiums are hitting price points that rival single-detached homes. The market is maturing and the appetite is unprecedented.”
Read the 2014 Upper-End Market Trends report for Hamilton-Burlington.
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