(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
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The REALTORS® Association of Hamilton-Burlington (RAHB) reported a record 1,810 property sales processed through the RAHB Multiple Listing Service® (MLS®) system in May. This represents a 9.4 per cent increase in sales compared to May of last year, and smashes the record of 1,699 all property sales set last month. There were 2,587 properties listed in May, an increase of 4.5 per cent compared to the same month the year prior. End-of-month listing inventory was 8.9 per cent lower than last May.
“For the second month in a row, sales in the Hamilton-Burlington area broke an all-time record,” said RAHB CEO Ross Godsoe. “To say that we’ve had a busy spring market would be an understatement. Low inventory and relatively low prices have led to properties in the old city of Hamilton to sell, on average, at or above asking.”
“Listing and sale numbers continue to grow,” added Godsoe. “However, inventory is still very low, with just two months supply of listings. The Hamilton-Burlington market has favoured sellers for a while now, and remains one of the tightest markets in Canada.”
Seasonally adjusted data for residential properties for the month of May, 2015
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(May 5, 2015 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported a record 1,699 property sales processed through the RAHB Multiple Listing Service® (MLS®) system in April. This represents a 15.7 per cent increase in sales compared to April of last year, and smashes the old record of 1,660 all property sales set in May of 2014.
“The Greater Hamilton-Burlington real estate market has never seen this kind of activity,” said RAHB CEO Ross Godsoe. “There are a number of areas in Hamilton, Burlington and even outlying communities where, on average, properties are being sold for full list price or higher. It’s rare to see that kind activity as an average for an area.”
“Listings and sales in the residential market are well over average for the month,” added Godsoe. “Despite the increase in listings, end of month inventory is still considered low, at just over two months of inventory. That, coupled with a high sales to listing ratio, confirms we are still firmly in a seller’s market.”
Seasonally adjusted data for residential properties for the month of April, 2015
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