(September 6, 2011 – Hamilton, Ontario) For the third straight month, the real estate market in the Greater Hamilton, Burlington and outlying areas* experienced increases in listings, sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
The residential freehold market saw the largest gains with a 24.1 per cent increase in number of listings and 12.5 per cent increase in number of sales. The average sale price was up four per cent over August of last year.
In the condominium market, listings were up 13.1 per cent and average sale price up 2.5 per cent over the same month last year.
Based on market results over the last ten years, the residential market in August was remarkably average. The only major deviations from the norm were in the number of listings for residential properties, where listings were up over the ten-year average.
While August numbers of listings and sales showed good gains over August of last year, the numbers are quite different for the first eight months of the year. Listings of residential properties are down 3.2 per cent while sales are down 1.4 per cent. Average sale price continues to climb, however, and is 4.4 per cent higher year to date than last year at the same time.
For detailed charts and statistics please do not hesitate to contact me
Steve Roblin
*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.