Tag Archives: REALTORS® Association of Hamilton-Burlington report

Market Turnaround in 2017

When looking at all property types in Hamilton-Burlington in 2017, compared to 2016 there were 5.9% less home sales, however the total dollar volume reached a new high of $8,972 billion (a 14.4% increase). Listings were up 15.4%, average days on market were 10% less. Which basically means this, we had more homes being listed, sales dropped a bit, but the homes that got sold were going quicker, and for a higher prices.

“The real estate market in 2017 was notable for the abrupt change through the spring,” noted RAHB CEO George O’Neill. “The market went from a strong, prolonged seller’s market, where the average time to sell a property was 14 days, to a more balanced market where buyers had more time to view and compare properties before putting in an offer to purchase.”

Each of the first four months of year had record sales for those months,” added O’Neill. “At the time, there were few listings on the market, with less than a month of inventory. In April, however, we saw the first glimpse of a turnaround, when we had more listings than average come onto the market. That did not translate into immediate relief for the market, as we still had record sales for the month. It was after that point we began to see higher-than-average new listings and lower-than-average sales.”

2017 RAHB year end stats page 1 2017 RAHB year end stats page 2

You can download RAHB year end stats report here.

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Record March Sales; Low Inventory Continues in 2017

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1803 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March. The month’s all-property sales set a new high for the month of March, surpassing the record set just last year by 22.2 per cent.

“This is the sixth month in a row – beginning October of last year – that we’ve seen a new monthly record for sales,” said RAHB CEO George O’Neill. “While there was a good increase in new listings, it doesn’t quite balance the number of sales, so the end-of-month listing inventory is 35 per cent lower than last year at this time – that’s less than a month of inventory.”

“Year to date, residential sales are up by 18.4 per cent and the average sale price by 22.9 percent over the same period last year and listing inventory is 35 per cent less than a year ago,” noted O’Neill. “In this market, where homes are selling quickly and buyers are competing for so few listings, a buyer’s and seller’s best ally is a REALTOR® – a real estate professional who can offer the best advice for navigating the market.”

Seasonally adjusted data for residential properties for the month of March, 2017

Seasonally adjusted data for residential properties for the month of March, 2017

Source: http://www.rahb.ca/2017/04/record-march-sales-low-inventory-continues-2017/

Selling your house in Burlington is easy when you work with Lori VanDinther, one of Burlington’s top agents! Team VanDinther will take care of all the details and deliver you the results!

Record Sales Again in June

(July 6, 2015 – Hamilton, Ontario) For the third month in a row, the REALTORS® Association of Hamilton-Burlington (RAHB) reported record breaking sales in the Greater Hamilton, Burlington and outlying areas. June’s 2062 property sales processed through the RAHB Multiple Listing Service® (MLS®) system smashed the record of 1810 sales set just last month.

“The real estate market exploded in June,” said RAHB CEO Ross Godsoe. “To break the old record – set just last month – by that much and for the second month in a row, shows just how active it was. We saw more areas throughout Hamilton in particular where homes sold at or above list price as an average – not just in isolated cases.”

“Inventory is extremely low,” added Godsoe. “We are deep into a sellers’ market right now. The two main indicators are the sales-to-listing ratio, which is high at almost 85 per cent in the residential market, and months of inventory. Right now we have less than two months inventory. That is extremely low when you consider that a balanced market has five to eight months of inventory.”

Seasonally adjusted data for residential properties for the month of June, 2015

Seasonally adjusted data for residential properties for the month of June, 2015

Selling your house in Burlington is easy when you work with Lori VanDinther, one of Burlington’s top agents! Team VanDinther will take care of all the details and deliver you the results!