View full report (PDF)
More good news! Hamilton-Burlington residential real estate is expected to post a strong performance for this year. Demand remained solid across the board throughout much of the year, although inventory proved a challenge, particularly at the entry-level price points. With sellers firmly in the driver’s seat, the market experienced persistent upward pressure on pricing.
The construction sector remains a bright spot, with building permits on track to set another new record in 2013. More than $1.175 billion in building permits was issued in the first three quarters of 2013 alone. Spillover should continue into next year.
Renovations continued unabated, with plenty of money poured into older product. This trend is expected to gain momentum in 2014, with additions already commonplace.
Hamilton-Burlington is forecast to set a new record for annual home sales in 2014, with 14,300 units expected to change hands, an increase of 4.5 per cent. Average price should ease from 2013’s exceptional pace, but still exceed national house price appreciation, as values climb four per cent to push past the $400,000 threshold ($402,500).
Looking for a professional real estate agent in Burlington to help you with the selling or buying of your home? Contact Lori VanDinther – and let her help YOU make the right moves.
Phone: (905) 336-7300
According to a recent report by the REALTORS® Association of Hamilton-Burlington (RAHB) listings and sales through October were higher by 9.4 per cent, when compared to last year same time. That represent around 1207 properties sold through the RAHB Multiple Listing Service® (MLS®) system. “Listings and sales through October were better than last year for the same month and higher than the 10-year average for the month,” said RAHB CEO Ross Godsoe. “We continue to see lower inventory, which again translates into a seller’s market for the area in the month of October.”
Looking to buy or sell a home in Burlington, Ontario? Contact Lori VanDinther – one of Burlington’s most trusted Realtors.
Some additional facts:
– The average sale price of $397,403 was an increase of 3.9 per cent over the previous October.
– There were 1730 properties listed in October, an increase of five per cent over October of last year.
– End-of-month listing inventory is 6.3 per cent lower than last year.
Read more here: http://www.rahb.ca/press/2013/131106statsreleaseOct.pdf
The numbers for July 2013 are in and showing 1288 properties sold through REALTORS® Association of Hamilton-Burlington (RAHB) Multiple Listing Service® (MLS®) . This shows a 3.9% increase compared to July of last year. So the seller’s market is persisting, with the average home sale price of $387,108 (an increase of 10.7%).
“We are still experiencing a seller’s market in our market area,” said RAHB CEO Ross Godsoe. “We thought earlier in the year we might see a more balanced market by this point, but that hasn’t been the case.”
For seasonally adjusted numbers, view the original report.