June real estate market still sizzling

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,877 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in June. Sales were 8.8 per cent lower than the same month last year yet were still the second highest sales on record.

There were 2,213 properties listed in June, a decrease of 12.9 per cent compared to June of last year.

“June sales may have been lower than last year in June,” said RAHB President Kim Alvarez. “but they were still outstanding.  Last June sales set an all-time record; this year, all property sales were 25 per cent higher than the 10-year average and the second-highest on record.”

Seasonally adjusted* sales of residential properties were 9.2 per cent lower than the same month last year, with the average sale price up 12.7 per cent for the month. Seasonally adjusted numbers of new listings were 12.1 per cent lower than June of 2015.

Seasonally2

Actual overall residential sales of 1,787 units were 9.8 per cent lower than the same month last year.  Residential freehold sales were 7.4 per cent lower than June of 2015 while sales in the condominium market decreased by 20 per cent.

The median price of freehold properties increased by 15.3 per cent over the same month last year while the median price for condominium properties increased by 18.8 per cent compared to the same period.

The average price of freehold properties showed an increase of 13.6 per cent compared to June of last year; the average sale price in the condominium market increased by 12.1 per cent when 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.

“Listing inventory is still way down, with just a little over a month of inventory in the residential market,” noted Alvarez. “With the average days on market at 22 in the freehold market – which is one of the lowest in recent years – buyers would be well-advised to use a REALTOR® to help them navigate through this fast-paced market.”

The average days on market decreased from 29 to 22 days in the freehold market and from 30 to 27 days in the condominium market, compared to June of last year.

Comparison2

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

RAHB Market Activity for June2

*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 2,950 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®) 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.

 

RAHB area maps – May 2016

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

Burlington, 30 – 36, 38

Burl

 

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

 

 

Record Sales for the Month of May

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,844 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in May. Sales were two per cent higher than the same month last year and set a new record for the month of May.

There were 2,265 properties listed in May, a decrease of 13.4 per cent compared to May of last year, and 4.1 per cent lower than the 10-year average.

“Record sales for the month combined with relatively few new listings has left us with only a little  over a month’s worth of residential inventory,” said RAHB CEO George O’Neill. “This seller’s market shows no signs of slowing down.”

Seasonally adjusted* sales of residential properties were 8.5 per cent lower than the same month last year, with the average sale price up 10.1 per cent for the month. Seasonally adjusted numbers of new listings were 17.9 per cent lower than May of 2015.

Seasonally adjusted data for residential properties for the month of May, 2016:

Seasonally

Actual overall residential sales of 1,777 units were 1.5 per cent higher than the same month last year.  Residential freehold sales were 2.1 per cent higher than May of 2015 while sales in the condominium market decreased by almost one per cent.

The median price of freehold properties increased by 12.1 per cent over the same month last year while the median price for condominium properties increased by 13.6 per cent compared to the same period.

The average price of freehold properties showed an increase of 11.1 per cent compared to May of last year; the average sale price in the condominium market increased by 11.5 per cent when 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 days on market decreased from 32 to 22 days in the freehold market and from 31 to 25 days in the condominium market, compared to May of
last year.

“Using a REALTOR® for a home sale or purchase is always a good idea but it’s especially important in a market this hot,” noted RAHB President Kim Alvarez. “A REALTOR® has the expertise and skills to help sellers and buyers get the best outcome on such a huge investment.”

Comparison

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

RAHB Market Activity for May

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

 

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,900 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®) 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 www.REALTOR.ca.  More information about RAHB is available at www.rahb.ca.                                          

RAHB Area Maps – April 2016

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

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

 

Re-Sale Market Still Hot in April

(May 4, 2016 – Hamilton, Ontario)  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,649 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in April.  Sales were 2.7 per cent lower than the same month last year yet 13 per cent higher than the 10-year average.

There were 2,053 properties listed in April, a decrease of 14.5 per cent compared to April of last year, and 9.4 per cent lower than the 10-year average.

“It’s not a big surprise that sales decreased compared to last year,” said RAHB CEO George O’Neill. “April 2015 was the first of the all-time record-breaking months we had last year.  April 2016 sales were still relatively high, at 13 per cent above the 10-year average.”

Seasonally adjusted* sales of residential properties were three per cent lower than the same month last year, with the average sale price up 16.2 per cent for the month.  Seasonally adjusted numbers of new listings were 11.1 per cent lower than April of 2015.

Actual overall residential sales of 1,563 units were 4.5 per cent lower than the same month last year.  Residential freehold sales were 3.1 per cent lower than April of 2015 while sales in the condominium market decreased by 10.4 per cent.

The median price of freehold properties increased by 14.4 per cent over the same month last year while the median price for condominium properties increased by 10.6 per cent compared to the same period.

The average price of freehold properties showed an increase of 14.5 per cent compared to April of last year; the average sale price in the condominium market increased by 12.7 per cent when 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 days on market decreased from 27 to 25 days in the freehold market and from 33 to 25 days in the condominium market, compared to April of last year.

“With only a little over a month of inventory and a high list-to-sell ratio in the residential market, our area continues to be hot,” noted RAHB President Kim Alvarez, “Residential median and average sale prices have risen over 14 per cent since the beginning of the year – a substantial increase over only four months.”

Every community in RAHB’s market area has its own localized residential market.  Please refer to the accompanying chart.

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

 

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,900 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®) 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 www.REALTOR.ca.  More information about RAHB is available at www.rahb.ca.

 

New Record Set for Month of March

(April 6, 2016 – Hamilton, Ontario)  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,482 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March, a new record for the month.  Sales were 6.8 per cent higher than the same month last year and 15.2 per cent higher than the 10-year average.

There were 1,858 properties listed in March, a decrease of 14.8 per cent compared to March of last year, and 11.1 per cent lower than the 10-year average.

“March was the ninth month out of the last 12 to see some sort of sales record broken in our market area,” said RAHB CEO George O’Neill. “The seller’s market just keeps roaring along.”

Seasonally adjusted* sales of residential properties were 4.7 per cent higher than the same month last year, with the average sale price up 7.8 per cent for the month.  Seasonally adjusted numbers of new listings were 15 per cent lower than March of 2015.

Seasonally adjusted data for residential properties for the month of March, 2016:
Seasonally

Actual overall residential sales of 1,422 units were 6.6 per cent higher than the same month last year.  Residential freehold sales were 9.2 per cent higher than March of 2015 while sales in the condominium market decreased by 3.7 per cent.

The median price of freehold properties increased by 7.1 per cent over the same month last year while the median price for condominium properties increased by 6.6 per cent compared to the same period.

The average price of freehold properties showed an increase of 9.3 per cent compared to March of last year; the average sale price in the condominium market increased by 4.3 per cent when 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 days on market decreased from 34 to 28 days in the freehold market and from 34 to 27 days in the condominium market, compared to March of last year.

Comparison

“There are some interesting comparisons to be made between the Hamilton market and the Burlington market,” noted RAHB President Kim Alvarez, “Hamilton saw the greater increases in sales and sale price, while Burlington saw a greater decrease in how long, on average, it takes to sell a property.  That’s why it’s so important to work with a REALTOR® – every part of the RAHB market area is unique and requires the expertise of a professional who knows the market.”

Every community in RAHB’s market area has its own localized residential market.  Please refer to the accompanying chart.

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

 

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,900 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®) 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 www.REALTOR.ca.  More information about RAHB is available at www.rahb.ca.

RAHB Area Maps – March 2016

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

 

Burlington, 30 – 36, 38

Burl

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

It’s All About Inventory

(March 4, 2016 – Hamilton, Ontario)  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,131 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February.  Sales were five per cent higher than the same month last year and 9.8 per cent higher than the 10-year average.  It was the highest number of sales for the month of February since 2006.

There were 1,527 properties listed in February, an increase of 7.3 per cent compared to February of last year, but 9.8 per cent lower than the 10-year average.

“Relatively low listing inventory continues to be the story for the local real estate market,” said RAHB CEO George O’Neill. “New residential listings are well below the 10-year average, while the number of residential sales is 9.2 per cent higher.  The result is that there is only a month and a half of listing inventory.”

Seasonally adjusted* sales of residential properties were 1.4 per cent lower than the same month last year, with the average sale price up 4.9 per cent for the month.  Seasonally adjusted numbers of new listings were 1.4 per cent lower than February of 2015.

Seasonally adjusted data for residential properties for the month of February, 2016:
Seasonally

Actual overall residential sales of 1,082 units were 4.1 per cent higher than the same month last year.  Residential freehold sales were 3.3 per cent higher than February of 2015 while sales in the condominium market increased by 8.2 per cent.

The median price of both freehold and condominium properties increased by 4.8 per cent compared to the same month last year.

The average price of freehold properties showed an increase of 4.8 per cent compared to February of last year; the average sale price in the condominium market increased by 2.7 per cent when 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 days on market decreased from 36 to 31 days in the freehold market and from 36 to 34 days in the condominium market, compared to February of last year.

“The market has picked up quickly,” noted RAHB President Kim Alvarez, “and that makes it all the more important for buyers and sellers to work with a REALTOR®.  REALTORS® know the market and offer valuable advice so buyers and sellers can make sound decisions about such an important transaction.”

Comparison

Every community in RAHB’s market area has its own localized residential market.  Please refer to the accompanying chart.

RAHB Market Activity for February

 

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

 

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,900 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®) 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 www.REALTOR.ca.  More information about RAHB is available at www.rahb.ca.