Record March Sales; Low Inventory Continues

Posted by on Apr 5, 2017 in Member Services | 0 comments

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,803 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.

There were 2,197 properties listed in March, an increase of 17.5 per cent compared to March of last year and 6.5 per cent higher than the 10-year average for new listings in the month.

“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.” 

Seasonally adjusted* sales of residential properties were 16.6 per cent higher than the same month last year, with the average sale price up 29.5 per cent for the month. Seasonally adjusted numbers of new listings were 10.2 per cent higher than March of 2016.

Seasonally

Overall residential sales of 1,702 units were 20.2 per cent higher than the same month last year. Residential freehold sales were 17.4 per cent higher than March of 2016 while sales in the condominium market were 32.8 per cent higher than the same month last year.

The median price of freehold properties increased by 28.5 per cent over the same month last year while the median price for condominium properties increased by 24.2 per cent compared to the same period.

The average price of freehold properties showed an increase of 28.7 per cent compared to March of last year; the average sale price in the condominium market increased by 28 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. 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. Contact a REALTOR® for information about your area or property.

The average number of days on market decreased from 28 to 20 days in the freehold market and from 27 to 19 days in the condominium market, compared to March of last year.

“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.“

Comparison

Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.

RAHB Market Activity for Mar

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

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About the REALTORS® Association of Hamilton-Burlington
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 3,000 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the Association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) System and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at REALTOR.ca. More information about RAHB is available at rahb.ca.

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RAHB Area Maps – March 2017

Posted by on Apr 5, 2017 in Member Services | 0 comments

RAHB Average Price by District – (#) Residential Unit Sales

Hamilton
Hamilton West,  10 – 12
Hamilton East,  23, 24, 27 – 29
Hamilton Centre,  13, 14, 20 – 22
Hamilton Mountain,  15 – 18, 25 & 26

Ham 1
Burlington
30 – 36, 38

Burl 1

 

Outlying

Flamborough, 40, 43 – 45
Dundas, 41
Ancaster, 42
Waterdown, 46
Stoney Creek, 50 – 52
Glanbrook, 53
Grimsby, 54 -55
West Lincoln, 56
Smithville, 57
Dunnville, 61
Cayuga, 62
Calendonia/Hagersville, 63 & 70
Onieda/Seneca, 71 & 64
Rainham, 65
Canborough/Dunn, 60

Outlying 1

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RAHB Area Maps – February 2017

Posted by on Mar 27, 2017 in Member Services | 0 comments

RAHB Average Price by District – (#) Residential Unit Sales

Hamilton
Hamilton West,  10 – 12
Hamilton East,  23, 24, 27 – 29
Hamilton Centre,  13, 14, 20 – 22
Hamilton Mountain,  15 – 18, 25 & 26

Ham 1
Burlington
30 – 36, 38

 

Burl 1

Outlying

Flamborough, 40, 43 – 45
Dundas, 41
Ancaster, 42
Waterdown, 46
Stoney Creek, 50 – 52
Glanbrook, 53
Grimsby, 54 -55
West Lincoln, 56
Smithville, 57
Dunnville, 61
Cayuga, 62
Calendonia/Hagersville, 63 & 70
Onieda/Seneca, 71 & 64
Rainham, 65
Canborough/Dunn, 60

Outlying 1

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Hot Market Continues

Posted by on Mar 27, 2017 in Member Services | 0 comments

PRESS RELEASE – For immediate release

March 3, 2017 (Hamilton, Ontario)

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,311 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February. Total property sales were 16.4 per cent higher than the same month last year and, for the second month in a row, set a new high for that month.

There were 1,496 properties listed in February, a decrease of 2.7 per cent compared to February of last year and 8.4 per cent lower than the 10-year average for new listings in the month.

“February’s sales were what we’d expect to see during the spring or fall markets, typically the busier times,” said RAHB CEO George O’Neill.   “With the number of available properties down and record sales, we are left with a low inventory at the end of the month.  In the residential market, there is less than one month of available properties right now.  We continue to be deep into a seller’s market.”

Seasonally adjusted* sales of residential properties were 18.1 per cent higher than the same month last year, with the average sale price up 27.5 per cent for the month. Seasonally adjusted numbers of new listings were 2.5 per cent higher than February of 2016.

Seasonally

Overall residential sales of 1,257 units were 16.7 per cent higher than the same month last year.  Residential freehold sales were 15.3 per cent higher than February of 2016 while sales in the condominium market were 23.2 per cent higher than the same month last year.

The median price of freehold properties increased by 23.2 per cent over the same month last year while the median price for condominium properties increased by 19.7 per cent compared to the same period.

The average price of freehold properties showed an increase of 22.3 per cent compared to February of last year; the average sale price in the condominium market increased by 22.8 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. 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. Contact a REALTOR® for information about your area or property.

The average number of days on market decreased from 31 to 22 days in the freehold market and from 34 to 21 days in the condominium market, compared to February of last year.

“The first two months of 2017 have been blockbusters”, noted O’Neill.  “Residential sales for 2017 are already 17.1 per cent higher than they were last year for the same period, and both median and average sale prices are up around 19 per cent. The spring market has started early.”

Comparison 

Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.

RAHB Market Activity for Feb

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

 

About the REALTORS® Association of Hamilton-Burlington
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 3,000 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the Association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) System and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at REALTOR.ca. More information about RAHB is available at rahb.ca.

 

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Mark YOUR Calendar

Posted by on Mar 24, 2017 in Mark Your Calendar | 0 comments

Held at RAHB – 505 York Blvd.
Lower level room: C – Chambers M – McCullough
First floor room: T – Thompson P – Purnell

 

Computer

  • New Member Computer Training Level 1
    Thursday, March 30 – C, 9 a.m. – 11:30 a.m.
    Thursday, April 6 – C, 9 a.m. – 11:30 a.m.
    Thursday, April 20 – C, 1 p.m. – 3:30 p.m.
    Thursday, May 4 – C, 9 a.m. – 11:30 a.m.
    Thursday, May 18 – C, 1 p.m. – 3:30 p.m.

Register with angelam@rahb.ca.

 

Board of Directors, Committee and Task Force Meetings

  • Governance & Bylaw
    Wednesday, April 5 – T, 9:30 a.m.
  • Board of Directors
    Thursday, April 13 – T, 9 a.m.
  • Government Relations
    Tuesday, April 18 – T, 9 a.m.
  • Finance
    Thursday, April 20 – T, 9:30 a.m.


Professional Development

See page 5 for a list of courses.

 
Mortgage Fraud

 

 

RAHB President Lou Piriano heading a new Professional Development session, Spot the Mortgage Fraud,
at RAHB.

 

 

 

 

Upcoming Events

  • RAHB Charity Golf Tournament
    Thursday May 18, 2017
    Beverly Golf and Country CLub
    1211 2nd Concession Rd. W., Copetown

Register at events@rahb.ca.

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