{"id":2247,"date":"2016-08-07T08:01:05","date_gmt":"2016-08-07T12:01:05","guid":{"rendered":"https:\/\/steveroblin.com\/?p=2247"},"modified":"2023-11-28T16:21:16","modified_gmt":"2023-11-28T21:21:16","slug":"july-market-still-hot","status":"publish","type":"post","link":"https:\/\/steveroblin.com\/july-market-still-hot\/","title":{"rendered":"July Market still HOT!"},"content":{"rendered":"
\n
\n
\n

\"Judy<\/a><\/h1>\n

HEAT REMAINS IN LOCAL REAL<\/h1>\n<\/div>\n<\/div>\n
\n
\nPRESS RELEASE \u2013 For immediate release August 5, 2016 (Hamilton, Ontario)
\nThe REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 1,487 sales were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in July. Sales were 8.3 per cent lower than the same month last year.
\nThere were 1,703 properties listed in July, a decrease of 13.9 per cent compared to July of last year.
\n\u201cThe numbers of sales are lower than last July\u2019s, but the hot real estate market in the Greater Hamilton-Burlington area continues,\u201d said RAHB CEO George O\u2019Neill. \u201cSales are 13.2 per cent higher than the 10-year average, while listings are 7.5 per cent lower than the average, indicating a continued undersupply of available properties to meet demand.\u201d
\nSeasonally adjusted* sales of residential properties were 1.6 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 9.2 per cent lower than July of 2015.
\nSeasonally adjusted data for residential properties for the month of July, 2016:\n<\/div>\n<\/div>\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n
\n
\n
\nSeasonally Adjusted Percentage Change Compared To\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nRESIDENTIALONLY JUL\/16 JUN\/16 MAY\/16 APR\/16 MAR\/16 JUL\/15\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nNew Listings 1,582 1.0% 6.5% 3.4% 6.5%\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-9.2%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 1,333 -1.0% 1.8% 4.3% 3.1%\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-1.6%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Sale Price $488,342 -1.4% 1.3% -3.4% 5.3%\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n12.7%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n
\n505 York Boulevard, Hamilton, Ontario, L8R 3K4 \u2022 T: 905.529.8101 \u2022 F: 905.529.4349 \u2022 info@rahb.ca \u2022 www.rahb.ca\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\nEmpowering REALTORS\u00ae to succeed since 1921 2\n<\/div>\n<\/div>\n
\n
\nActual overall residential sales of 1,438 units were 7.9 per cent lower than the same month last year. Residential freehold sales were 6.9 per cent lower than July of 2015 while sales in the condominium market decreased by 12.1 per cent.
\nThe median price of freehold properties increased by 11.3 per cent over the same month last year while the median price for condominium properties increased by 10.2 per cent compared to the same period.
\nThe average price of freehold properties showed an increase of 13.2 per cent compared to July of last year; the average sale price in the condominium market increased by 8.7 per cent when compared to the same period.
\nAverage sale price is based on the total dollar volume of all properties sold through the RAHB MLS\u00ae 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\u00ae for information about your area or property.
\nThe average days on market decreased from 33 to 24 days in the freehold market and from 30 to 27 days in the condominium market, compared to July of last year.
\n\u201cIt is a tight market right now,\u201d noted RAHB President Kim Alvarez. \u201cWith just a little over a month of residential listing inventory, it can be challenging for buyers to find the home that\u2019s right for them. Hiring a REALTOR\u00ae is always the best strategy when you are buying or selling, and is especially important in this type of market.\u201d
\nThe numbers for the month of July, 2016 compared to July, 2015:\n<\/div>\n<\/div>\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n
\n
\n
\nALL PROPERTY TYPES July 2015 July 2016 % Change\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nListings 1,977\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,703\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-13.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 1,621\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,487\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-8.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Sale Price $441,256\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$495,139\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n12.2%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nEnd of Month Listing Inventory 3,651\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n2,381\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-34.8%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n
\n
\n
\nRESIDENTIAL ONLY July 2015 July 2016 % Change\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nListings 1,842\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,577\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-14.4%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 1,561\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,438\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-7.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nMedian Sale Price $375,000\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$416,000\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n10.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Sale Price $434,987\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$491,360\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n13.0%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Days on Market 32\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n25\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-21.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nEnd of Month Listing Inventory 2,896\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,730\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-40.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n
\n505 York Boulevard, Hamilton, Ontario, L8R 3K4 \u2022 T: 905.529.8101 \u2022 F: 905.529.4349 \u2022 info@rahb.ca \u2022 www.rahb.ca\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\nEmpowering REALTORS\u00ae to succeed since 1921 3\n<\/div>\n<\/div>\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n
\n
\n
\nFREEHOLD ONLY July 2015 July 2016 % Change\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nListings 1,534\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,315\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-14.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 1,271\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,183\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-6.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nMedian Sale Price $400,000\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$445,000\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n11.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Sale Price $462,649\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$523,758\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n13.2%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Days on Market 33\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n24\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-27.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nEnd of Month Listing Inventory 2,456\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n1,426\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-41.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n
\n
\n
\nCONDOMINIUM ONLY July 2015 July 2016 % Change\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nListings 308\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n262\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-14.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 290\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n255\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-12.1%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nMedian Sale Price $291,375\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$321,000\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n10.2%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Sale Price $313,752\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n$341,057\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n8.7%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nAverage Days on Market 30\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n27\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-10.0%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nEnd of Month Listing Inventory 440\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n304\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-30.9%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n<\/colgroup>\n\n\n\n\n
\n
\n
\nCOMMERCIAL ONLY July 2015 July 2016 % Change\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nListings 135\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n126\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-6.7%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
\n
\n
\nSales 60\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n49\n<\/div>\n<\/div>\n<\/td>\n
\n
\n
\n-18.3%\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n
\nEvery community in RAHB\u2019s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR\u00ae for more information.
\n*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.<\/p>\n

Contact me anytime for a more detailed discussion!<\/h2>\n

\"judymarsalesLOGO\"<\/a>\n<\/div>\n<\/div>\n

<\/div>\n
<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

HEAT REMAINS IN LOCAL REAL PRESS RELEASE \u2013 For immediate release August 5, 2016 (Hamilton, Ontario) The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 1,487 sales were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in July. Sales were 8.3 per cent lower than the same month last year. There were 1,703 properties listed in […]<\/p>\n","protected":false},"author":3,"featured_media":1592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-posts"],"acf":[],"yoast_head":"\nJuly Market still HOT! - Steve Roblin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/steveroblin.com\/july-market-still-hot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"July Market still HOT! - Steve Roblin\" \/>\n<meta property=\"og:description\" content=\"HEAT REMAINS IN LOCAL REAL PRESS RELEASE \u2013 For immediate release August 5, 2016 (Hamilton, Ontario) The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 1,487 sales were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in July. 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