(June 3, 2011 – Hamilton, Ontario) The May real estate market in the Greater Hamilton, Burlington and their outlying areas* experienced an increased number of listings for the month of May and a small decrease in the number of sales overall, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
The average sale price of all properties rose again in May when compared to last year. The largest gain in average sale price was in the residential condominium market. The average sale price is up almost 11 per cent over May of last year and sales were higher than the 10-year average for the month.
Residential sales saw a slight decrease in the number of sales compared to May of last year, while the average sale price rose 3.8 per cent. Year to date residential unit sales were 8.4 per cent lower year than last year.
Burlington had the largest increase in average sale price at 8.8 percent; other areas with significant increases in average sale prices in May were Hamilton Centre and Ancaster. Dunnville and Grimsby were the only communities with significant decreases in average sale price.
Please refer to the accompanying chart for market activities in other parts of RAHB’s jurisdiction.
Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®). Unit sales reflect “all property types” including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.
*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.