RAHB Area Maps
Average price by district for Outlying, Hamilton and Burlington RAHB jurisdictional areas for November 2014. (#) Residential Unit Sales.
Seller’s Market Persists
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1096 property sales processed through the RAHB Multiple Listing Service® (MLS®) system in November. This represents a 1.8 per cent increase in sales compared to November of last year.
There were 1287 properties listed in November, a decrease of 2.1 per cent compared to the same month last year. End-of-month listing inventory was 12.9 per cent lower than last year at the same time.
“It’s still a seller’s market in our market area,” said RAHB CEO Ross Godsoe. “Listings were lower compared to the same month last year and were a little over six per cent lower than the 10-year average for the month, while sales were up compared to last year and about 8.5 per cent higher than average for a November.”
Seasonally adjusted* sales of residential properties were 5.2 per cent higher than the same month last year, with the average sale price up 8.5 per cent for the month. Seasonally adjusted numbers of new listings were 2.2 per cent higher than the same month last year.
Seasonally adjusted data for residential properties for the month of November, 2014:
Actual overall residential sales were 2.9 per cent higher than the previous year at the same time. Residential freehold sales were 3.4 per cent higher than last year while sales in the condominium market saw an increase of one per cent.
“November’s residential sales were the second highest in ten years for the month,” added Godsoe.
The average price of freehold properties showed an increase of 6.4 per cent compared to the same month last year; the average sale price in the condominium market increased 17 per cent when compared to the same period last year.
The average sale price is based on the total dollar volume of all properties sold in the RAHB market area. Average sale price information 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.
The average days on the market decreased from 46 to 40 days in the freehold market and decreased from 49 to 39 days in the condominium market when compared to the same month last year.
Year to date, listings are two per cent higher than the same January-to-November period a year ago. Sales are 5.8 per cent higher and the average sale price is 5.8 per cent higher for the period.
Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
Welcome New Members – October 25 to November 19
The REALTORS® Association of Hamilton-Burlington would like to extend a warm welcome to its newest members.
Dale Pelletier
Homelife Professionals Realty Inc., Brokerage
Joanne Francis Janosi
Keller Williams Complete Realty Inc., Brokerage
Wes Malec
Keller Williams Edge Realty Inc., Brokerage
Dai Rong Wu
One Percent Realty Ltd., Brokerage
Roger Ghai
Greg Guhbin
Brian Mackay
RE/MAX Escarpment Realty Inc., Brokerage
Alice Chow
RE/MAX Garden City Realty Inc., Brokerage
Amy Bray
Royal LePage Burloak Real Estate Services Inc., Brokerage
Amy Schanbacher
Royal LePage Niagara Real Estate Centre Inc., Brokerage
Mandy Kennedy
David Sharples
Royal LePage State Realty Inc., Brokerage
Nancy Robertson
Sotheby’s International Realty Inc., Brokerage
Laura Toscani
Sutton Group Innovative Realty Inc., Brokerage
Realty Shoppe
Mark your calendar!
Realty Shoppe Closure
The Realty Shoppe will be closed on Wednesday, December 17 for inventory. No sales or orders please. We apologize for any inconvenience – your cooperation is greatly appreciated!
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Did you know?
The Member’s Guide is an Association publication produced on a quarterly basis. It contains a wealth of up-to-date information:
- Office and Member Rosters
- Monthly statistics
- Cumulative sales summary for the current year
- Directory of surrounding boards and information sharing boards
- Industry affiliations
- Staff directory
- RAHB boundaries for districts with pertinent information for each district
- Tax rates
The Member’s Guide is available only to RAHB members, by advance order.
Pre-order deadline is January 5, 2015 for the January 2015 issue of the Member’s Guide.
This is the only issue to contain the complete list of 2014 cumulative sales.
$11.00 + HST
REALTOR® CONNECTIONS 2015
RAHB News
Volunteers Needed!
Would you like to share your expertise and knowledge to help your fellow members?
RAHB is looking for volunteers to serve on Standing committees (Arbitration, Discipline and Professional Stardards) and Board committees (Audit, Finance, MLS® and Nomination).
Go to the Volunteer Form for more information about the committees and how to sign up for the committees of your choice.
Deadline for submitting your name is Friday, January 9, 2015.
(Please note: Operational committees have not been set for 2015; watch for a separate notice and volunteer form for Operational committees soon! )
RAHB News
OREA Standard Forms – New and Revised Forms/ Clauses for 2015
OREA has recently released the 2015 Standard Forms and Clauses – Summary of Revisions. This report is now posted on the OREA website www.orea.com in the Members Only Section, and on REALTOR Link® in the MLS® & IT section. All members and support staff are encouraged to review this document.
This report includes the list of the 38 revised and new forms for 2015, and the changes include such frequently used forms such as OREA Form 100 “Agreement of Purchase and Sale”; OREA Form 200 “Listing Agreement Authority to Offer for Sale”; OREA Form 122 “Mutual Release”; and OREA Form 320 “Confirmation of Co-Operation and Representation”.
The new forms are now on the OREA site, and software companies (including WEBForms®) have been asked to be ready by mid-December. Based on these release dates, RAHB expects to stock the printed forms in the Realty Shoppe by mid to late January. RAHB members are encouraged to use the 2015 forms as soon as possible in the New Year.
Members must begin using the 2015 OREA forms by Tuesday, February 10, 2015.
OREA is offering a free update on revisions to the 2015 Standard Forms and Clauses:
When: Tuesday, February 10, 2015
9:30 a.m. to Noon or 1 p.m. – 3:30 p.m.
Where: RAHB Office, McCullough Room (lower level)
Cost: Free to RAHB members
This update will focus on new and revised forms and clauses for 2015, while including information about revisions that have evolved over a number of years, especially where the revisions were contentious.
- OREA Standard Forms copyright, benefits and limitations of use
- OREA Standard Forms essential usage, including electronic transmission and electronic signatures
- OREA Standard Forms and REBBA 2002 and other legislative compliance
- Upcoming new material benefits for members
- OREA “forms explained files”
- Available resources
- Standard Forms “members only” page on orea.com
- Spring 2014 revisions to CREA/FINTRAC forms
Members who attend this update will also have an opportunity to discuss standard forms usage and provide input and suggestions for future revisions to OREA’s standard forms and clauses.
To register for this update, contact Angela at the RAHB office (angelam@rahb.ca or 905.529,8101 x233) and specify the time you wish to attend.
MLS® Update
New fees for TREB interboards
Effective January 1, 2015 a fee of $20 plus applicable taxes will be charged for any request of TREB staff to change, re-arrange or delete photographs on active listings.
REALTORS® Care
REALTORS® come out to support RAHB auction
RAHB’s 26th annual Charity Auction offered an evening of food, entertainment and friendly bidding wars to raise money for the CHML/Y108/953 FRESH Children’s Fund. RAHB members and supporters came out to have a good time, and took home a wide range of goods and services purchased in the live and silent auctions.
The event also featured chocolate tasting by Forrat’s Chocolates, wine tasting by Diamond Estates – The Winery and lots of opportunities to win prizes and draws.
RAHB’s annual auction has raised over $789,600 for the charity, making RAHB its single largest contributor. The Children’s Fund offers assistance to over 30 different charities each year.
[The final tally of the proceeds from the evening was not available at the time of publication; watch Message of the Day (MOD) for the final number.]
Ethics Corner
When is permission to advertise not permission to advertise?
The following decision from RECO Discipline and Appeals Hearings was recently published in the OREA “Edge”. The full case has been condensed and all names have been changed. (more…)
Mark YOUR Calendar
Professional Development
Held at RAHB – 505 York Blvd. – Lower Level
C – Chambers Room M – McCullough Room
Fusion Level 1
Tuesday, December 9 – C, 9 a.m. – noon
Tuesday, December 16 – C, 9 a.m. – noon
Wednesday, January 7 – C, 9 a.m. – noon
Tuesday, January 20 – C, 1 p.m. – 4 p.m.
Broker Load
Thursday, December 18 – C, 9:30 a.m. – 11:30 a.m.
Thursday, January 15 – C, 9:30 a.m. – 11:30 a.m.
Thursday, January 29 – C, 9:30 a.m. – 11:30 a.m.
New Member Orientation (by invitation only)
Friday, December 12 – M, 9 a.m. – 1 p.m.
Friday, January 23 – M, 9 a.m. – 1 p.m.
To register for above courses, email Angela at angelam@rahb.ca or call 905.529.8101 x233
Board of Directors, Committee and Task Force Meetings
Held at RAHB – 505 York Blvd. – First Floor
T – Thompson Room P– Purnell Room
Past President’s Meeting – Tuesday, December 9, 3 p.m., T
Board of Directors – Thursday, December 11, 9 a.m., T
Awards – Thursday, December 11, 9:30 a.m., P
Upcoming Events
RAHB Annual Appreciation Gala
Saturday, January 17, 2015 (by invitation only)
Michelangelo Events & Conference Centre
1555 Upper Ottawa, Hamilton
RAHB Office Closures
Wednesday to Friday, December 24, 25 and 26
Wednesday to Friday, December 31, January 1 and 2
RAHB News – Town hall meetings
Close to 70 members attended Town Hall meetings in Dunnville and Burlington to hear updates on RAHB initiatives and to have the chance to offer their comments and questions. (more…)