Aug 14, 2012 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported the residential condominium market saw a 4.3 per cent increase in average sale price in July compared to the same month last year. Median sale prices also saw gains over July of last year.
“With the residential condominium segment of the market continuing to increase in average sale price, we anticipate a continued overall stable market in most segments,” said RAHB President Cameron Nolan.
Seasonally adjusted* sales of residential properties were 2.9 per cent lower than the same month last year, with the average sale price down 2.6 per cent for the month. Seasonally adjusted numbers of new listings were 9.4% per cent lower than the same month last year.
Seasonally adjusted data for residential properties for the month of July:
The slight drop in average sale price in seasonally adjusted data was mirrored by a one per cent reduction in actual sales for the month when compared to the same period last year.
“Does this dip in average sale price signal anything significant? I don’t think so,” said Nolan. “The average sale price is dependent on a number of factors which may change from year to year – the number of high end properties sold versus the number of lower end properties, for instance. We need to see what happens over the next few months before we can say there’s anything significant happening to the market value of properties in our areas.”
Noting that residential sales and listings are also down to the same month last year, Nolan pointed out that “it is common to see fewer listings and sales through the summer months. We have to remember that we are making comparisons to a month last year which had double digit increases over the year before that.”
Year to date, the average sale price for residential units is 6.3 per cent higher for the first seven months of this year compared to the same seven-month period last year. Numbers of residential property sales are down 3.1 per cent. New listings are down 7.5 per cent and there were 22.6 per cent fewer listings active at the end of the month.
“Listing inventory is still the biggest story for this year and we are seeing that reflected in the fewer number of days properties are on the market,” said Nolan.
Every community in RAHB’s marketing area has their own localized residential market. Please refer to the accompanying chart for residential market activities in select areas of RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
Jul 10, 2012 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1338 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of June. RAHB also reported a six per cent increase in average sale price for the month compared to June of last year. (more…)
Jul 10, 2012 | MLS®, Stats & Technology |
Jul 10, 2012 | RAHB News |
Arbitration, Discipline and Professional Standards Committees
There were no Arbitration or Discipline Hearings during the second quarter. The Professional Standards Committee has reviewed 10 new complaints, four of which were deemed to fall under RECO’s jurisdiction, and six cases which were opened and are being investigated by RAHB.
Contact: Don Inglehart, Wilf Wallace and Ann Cosens
Burlington Council
The Burlington Council circulated a survey in May and responses are being reviewed. Names of those who responded to the survey were put in a draw for a free RAHB MCE-credit course and the winner was Izabella Bauer (Right at Home Realty Inc.). The Burlington Council will continue their support of local initiatives this fall with the support of the Burlington Chamber of Commerce’s September Business Forum and an upcoming Small Business Week Breakfast.
Contact: Jamie Edwards
Communications Committee
The Communications Committee continues to review and discuss ways in which to improve communication between members and the association, and sought input from Brokers of Record and Managers at their recent meeting. The Committee recommended that RAHB no longer participate in the Adopt-a-School Student Nutrition Program nor collect books for the Telling Tales literacy festival as the programs lack participation of members. Donations were made to Good Shepherd Square, Ronald McDonald House and the REALTORS Care Foundation/REALTORS® RIDE for Charity.
Contact: Marvin Caplan
Government Relations Committee
The Government Relations Committee has been busy conducting local MPP visits pushing government to allow real estate salespeople to incorporate, and to amend the Electronic Commerce Act to allow electronic signatures for real estate transactions. In May, RAHB reps travelled to Ottawa to meet with MPs to promote the indexation of the Home Buyers’ Plan and to lobby for rollover of the Capital Cost Allowance (CCA). Locally the committee has been focused on rental housing licensing, bylaw enforcement, affordable housing and promoting the Quality of Life program.
Contact: Tamer Fahmi
Membership Area Representation Committee (MARC)
RAHB’s April Town Hall meetings visited Stoney Creek, Waterdown and Dunnville and nearly 80 members came out to hear RAHB updates and provide feedback. More Town Hall meetings will be held in October and details will be announced in the coming weeks.
MARC’s 2012 Community Awareness Event was held in June and was in support of the Heart & Stroke “Big Bike Ride” – details of the two rides can be found on page 6 in this issue of REALinfo.
Contact: Tom Peddle
Professional Development
The Professional Development Committee offered 15 MCE courses during the last quarter. They will be offering four summer courses, three of which are new topics (see page 3 for details). The fall schedule will resume in September with 15 courses, five of which are new topics. Check the schedule in the Education section on REALTORLInk®.
Contact: Jim Duschl
Regional Commercial Council
The RCC held their 11th Annual Commercial Summit on May 3 at the Burlington Golf and Country Club. The event drew more than 110 attendees and showcased 11 sponsors and exhibitors. The full morning included speakers who presented national updates and local economic development opportunities, services and incentives. The closing speaker demonstrated the provincial investment attraction tools offered by the Ministry of Economic Development and Trade.
The RCC is currently investigating possible education sessions for the fall. The RCC Election Dinner is scheduled for November 1 – more information to be announced shortly.
Contact: Hank Balfoort
Jun 12, 2012 | MLS®, Stats & Technology |
Jun 12, 2012 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1552 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of May. RAHB also reported an 8.6 per cent increase in average sale price for the month compared to May of last year.
Seasonally adjusted* sales of residential properties were one per cent lower than the same month last year, with the average sale price increasing 6.1 per cent for the month. Seasonally adjusted numbers of new listings, however, were 16.3 per cent lower than the same month last year.
Listing inventory continues to be down across the board when compared to the same month last year. The number of active listings at month end is almost 900 fewer than were active at the same time last year.
“This is almost exactly the same market we reported last month,” said RAHB President Cameron Nolan. “with less inventory, higher average sale prices and listings that move more quickly than last year at the same time.”
The condominium market is the only sector that saw a small decrease in average sale price for the month. The same market also experienced the most significant decrease in listing inventory compared to the previous year: the 526 active listings represent a 27.6 per cent decrease from May of last year.
“The residential resale market is strong in our market area,” added Nolan. “and we expect to see the same kinds of results while interest rates remain low.”
Year to date, residential listing inventory is just over 20 per cent down from the same January-to-May period last year. Sales are just over one per cent higher year to date, and average sale prices have risen 7.7 per cent over the same five-month period.
Every community in RAHB’s marketing area has their own localized residential market. Please refer to the accompanying chart for residential market activities in select areas of RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
May 8, 2012 | MLS®, Stats & Technology |
May 8, 2012 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1454 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of April. RAHB also reported a 9.6 per cent increase in average sale price for the month compared to April of last year. (more…)
Feb 7, 2012 | MLS®, Stats & Technology |
Members will notice a few changes have been made to the statistics released by the REALTORS® Association of Hamilton Burlington.
(more…)
Feb 7, 2012 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 819 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of January, representing a 10.8 per cent increase in sales over the same month last year.  RAHB also reported that 7.7 per cent fewer listings were taken in the month of January of this year compared to January of last year.
(more…)
Feb 7, 2012 | MLS®, Stats & Technology |
Jan 10, 2012 | MLS®, Stats & Technology |
