The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,409 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in August. Sales were 9.2 per cent higher than the same month last year, and set a new record for sales in the month of August.
There were 1,645 properties listed in August, a decrease of 10.8 per cent compared to August of last year.
Seasonally adjusted* sales of residential properties were 4 per cent lower than the same month last year, with the average sale price up 6.2 per cent for the month. Seasonally adjusted numbers of new listings were 15.6 per cent lower than August of 2015.
Actual overall residential sales of 1,334 units were 7.4 per cent higher than the same month last year. Residential freehold sales were 9 per cent higher than August of 2015 while sales in the condominium market were virtually the same as the same month last year.
The median price of freehold properties increased by 17 per cent over the same month last year while the median price for condominium properties increased by 19.4 per cent compared to the same period.
The average price of freehold properties showed an increase of 5.1 per cent compared to August of last year; the average sale price in the condominium market increased by 19.3 per cent when compared to the same period.
The average days on market decreased from 35 to 27 days in the freehold market and from 38 to 27 days in the condominium market, compared to August of last year.
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