(July 4, 2014 – Hamilton, Ontario)  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1572 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in June.  This represents a 15.6 per cent increase in sales compared to June of last year.
There were 2215 properties listed in June, an increase of 11.5 per cent over the same month last year.  End-of-month listing inventory was five per cent lower than last year at the same time.
“June’s sales were good by any measure,” said RAHB CEO Ross Godsoe. “They were not only up over last year, but were 10 per cent higher than the average for the month.”
Seasonally adjusted* sales of residential properties were 7.6 per cent higher than the same month last year, with the average sale price up 4.8 per cent for the month.  Seasonally adjusted numbers of new listings were 8.2 per cent higher than the same month last year.
Seasonally adjusted data for residential properties for the month of June, 2014:

Seasonally Adjusted
Residential Only
Percentage change compared to
Jun/14 May/14 Apr/14 Mar/14 Feb/14 Jun/13
New Listings 1737 -0.2% 6.0% 15.1% 22.1% 8.2%
Sales 1216 -0.2% 5.8% 9.5% 16.5% 7.6%
Average Sale Price $399,917 2.0% -0.1% -1.1% 1.6% 4.8%

Actual overall residential sales were 16.7 per cent higher than the previous year at the same time.  Residential freehold sales were 15.5 per cent higher than last year while the condominium market saw an increase of 22.1 per cent in sales.  The average price of freehold properties showed an increase of five per cent compared to the same month last year; the average sale price in the condominium market increased 4.6 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.
“We’ve seen more listings come on the market over the last two months, which gives buyers more options,” added Godsoe.  “That doesn’t seem to be translating into a more balanced market, however; we are still seeing a fairly high sales-to-listing ratio, which indicates the seller’s market is continuing in our market area.”
The average days on the market decreased from 37 to 35 days in the freehold market and from 46 to 37 days in the condominium market.
Year to date, listings are almost two per cent higher than the same January-to-June period a year ago.  Sales are 4.5 per cent higher and the average sale price is five per cent higher for the period.
The numbers for the month of June, 2014 compared to June, 2013:
All Property Types                                                      2013                      2014                 % Change

Listings 1986 2215 11.5%
Sales 1360 1572 15.6%
Average Sale Price $397,949 $415,375 4.4%
End of Month Listing Inventory 4283 4070 -5.0%

Residential Only

Listings 1837 2077 13.1%
Sales 1307 1525 16.7%
Median Sale Price $332,000 $348,000 4.8%
Average Sale Price $390,964 $409,195 4.7%
Average Days on Market 39 36
End of Month Listing Inventory 3497 3320 -5.1%

Freehold Only

Listings 1500 1710 14.0%
Sales 1072 1238 15.5%
Median Sale Price $355,000 $377,625 6.4%
Average Sale Price $415,638 $436,570 5.0%
Average Days on Market 37 35
End of Month Listing Inventory 2919 2757 -5.5%

Condominium Only

Listings 337 367 8.9%
Sales 235 287 22.1%
Median Sale Price $263,500 $264,900 0.5%
Average Sale Price $278,410 $291,112 4.6%
Average Days on Market 46 37
End of Month Listing Inventory 578 563 -2.6%

Commercial Only

Listings 148 138 -6.8%
Sales 53 47 -11.3%

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.
Click here for the Residential Real Estate Market Activity chart for the City of Hamilton.
Click here for the Residential Real Estate Market Activity chart for Burlington.
Click here for the Monthly Market Activity chart.