The Real Estate Market Trend Report released by the REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,344 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in May 2019. This is a 10.9 per cent increase from May last year, as well as an 9.6 per cent increase over April 2019 and a 30.2 per cent increase over March 2019. The average price for residential properties increased by 0.9 per cent from May 2018 to $593,702.
“The number of sales increased double digits over last year and the number of new listings decreased by 5.2 per cent, indicating that we are in the thick of a busy spring market for sellers,” says RAHB President Bob Van de Vrande. “And prices only increasing an average of 0.9 per cent over last year means buyers haven’t watched prices soar while they find the perfect home.”
The number of sales for single family properties within the entire RAHB market increased by 6.3 per cent compared to the same month last year, and the average sale price increased by 0.5 per cent. Townhouse sales activity across the entire RAHB market area increased from May 2018 by 21.8 per cent, and the average townhouse sale price rose by 3.7 per cent to $507,400. Apartmentstyle property sales increased by 20 per cent over May 2018, and the average price increased by 8.3 per cent.
“When we talk about the ‘RAHB market’, we’re referring to four separate communities – Hamilton, Burlington, Haldimand and Niagara North,” adds Van de Vrande. “The activity experienced in one community may not be taking place in another for a variety of reasons, and that’s why it’s so important for consumers and sellers to use a local REALTOR® who knows the trends within their area.”
Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Call Team Bush at 905-297-4885, we have the experience, knowledge and tools to help buyers and sellers make those big decisions.
To view a specific Market Report that will show you current
Home Values and Sales Information for the Area you are interested in, click this link for real time data of Current Home Sales
including pricing and photos; Below is a link to your city’s home
evaluation report, or your “Market Report.” This report is generated by analyzing home value and sales information for your area, and will provide you with important, real time data on the state of your market.
View the Market Report for Hamilton at:
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*Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Talk to your local REALTOR®.
Original Article: www.rahb.ca/market-stats/
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