Tag Archives: REALTORS® Association of Hamilton-Burlington report

New Sales Record Set in May

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/

Seller’s Market Continues

Compared to March of last year 1268 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system represents a 9 per cent increase!

“The low inventory of listings is still the story,” said RAHB CEO Ross Godsoe. “A one per cent decrease doesn’t sound like much, but last March’s listings were down almost 10 per cent from the year before that. Put in context, listings this March were 8.7 per cent lower than average for the last ten years. Low inventory coupled with sales that are almost at the 10-year average are driving the price increase and the seller’s market.”

Properties listed in March = 1885, a decrease of 1.3 per cent from the same month last year.

The average sale price of $409,684 was 4.3 per cent higher than last March.

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Seasonally Adjusted Chart

Read more at http://www.rahb.ca/2014/04/sellers-market-continues/

Low Listing Inventory Continues

The REALTORS® Association of Hamilton-Burlington (RAHB) reported
949 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in February.
This represents a 0.7 per cent decrease in sales compared to February of last year.

“The long winter seems to be having an effect on the real estate market,” said RAHB CEO Ross Godsoe.
“Our listing inventory continues to be lower than average, and overall, for all property types, we are seeing
fewer listings and sales compared to last year.”

Low-listings-inventory-feb-2014

“Residential sales are up a bit from last year,” said RAHB CEO Ross Godsoe. “but when you look at the
bigger picture, sales are actually almost seven per cent below what is average for the month of February,
based on results from the last ten years. Likewise, listings are about 15 per cent lower than average.”