REALTORS® Association of Hamilton-Burlington report

Seller’s Market Persists in Hamilton-Burlington

The REALTORS® Association of Hamilton-Burlington (RAHB) logoThe 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.

Average Sale Price in Hamilton-Burlington Edges Higher in February

Even tough there were less listing and sales, when compared to February of 2012, the average sale price in Feb 2013 is 4.9% higher – according to the report by the REALTORS® Association of Hamilton-Burlington (RAHB).

RAHB CEO Ross Godsoe said that “last February had one extra day thanks to being in a leap year, so we expected this February’s sales to be a bit lower in comparison, but this year’s sales were not only lower than last year’s but also below average for the month. Does this constitute a downward trend? It’s too early to say. We should have a better idea at the end of the first quarter.”

All Property Types – Actual 2012 2013 % Change
Listings 1789 1486 -16.9%
Sales 1123 961 -14.4%
Average Sale Price $361,062 $378,593 4.9%
End of Month Listing Inventory 3857 3477 -9.9%

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October residential market still favours sellers

REALTORS® Association of Hamilton‐Burlington (RAHB)
Established in 1921, the REALTORS® Association of Hamilton‐Burlington (RAHB) represents more than 2,500 real estate brokers and sales representatives from Hamilton, Burlington, and outlying areas

Actual residential sales overall were down by 0.8% in October 2012 compared to last year but the average sale price saw an 8.3% increase and the average days on market was lower than last year.

“The steady increase in residential prices over last year continues,” said Nolan. “We are also seeing less of a difference between numbers of new listings this year compared to last. Those listings are still being sold faster than last year, with the average number of days on market at 45 days.”

All property types overall saw an increase in sales (by 0.4%) and average price (by 12.7%) compared to last years period, indicating that October residential market still favours sellers.

“The October market has confirmed that we are in a seller’s market, as we have been most of the year.” said RAHB President Cameron Nolan. The REALTORS® Association of Hamilton-Burlington (RAHB) reported the residential market saw an 11.9 per cent increase in average sale price in October compared to the same month last year.

For the complete report visit: http://www.rahb.ca/press/2012/121105pressreleaseOct.pdf

Thinking of selling your real estate property in Burlington or the surrounding areas? Lori VanDinther – Burlington Real Estate Agent has over 20 years of experience in selling real estate in Burlington area. Don’t hesitate to get in touch with her to help you sell your home at the best possible price!