{"id":2745,"date":"2017-06-05T10:36:43","date_gmt":"2017-06-05T14:36:43","guid":{"rendered":"https:\/\/steveroblin.com\/?p=2745"},"modified":"2023-11-28T16:21:10","modified_gmt":"2023-11-28T21:21:10","slug":"hamiltonrealestate0517","status":"publish","type":"post","link":"https:\/\/steveroblin.com\/hamiltonrealestate0517\/","title":{"rendered":"Hamilton Real Estate – Record Listings but prices still rising! – May 2017"},"content":{"rendered":"
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RECORD LISTING NUMBERS IN MAY<\/h1>\n

PRESS RELEASE \u2013 For immediate release June 5, 2017 (Hamilton, Ontario)
\nThe REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported a record 3,208 new listings were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in May, which is 41.1 per cent higher<\/strong> than the same month last year and 34.8 per cent higher than the 10-year average.
\nSales were less than one per cent lower than the same month last year, and still 15.3 per cent higher than the 10-year average.
\n\u201cListings continue to be the story,\u201d said RAHB CEO George O\u2019Neill. \u201cThe difference is that two months ago we reported on the sustained low inventory of listings and this month we are talking about a record for new listings. The increase in listings suggests that homeowners have been watching the market, seen home values increase significantly over the last year or two, and decided to take advantage of those increases.\u201d
\nSeasonally adjusted* sales of residential properties were 3.5 per cent lower than the same month last year, with the average sale price up 24.8 per cent for the month. Seasonally adjusted numbers of new listings were 37.9 per cent higher than May of 2016.
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\nOverall residential sales of 1,745 units were 1.4 per cent lower than the same month last year. Residential freehold sales were exactly the same as May of 2016 while sales in the condominium market were 7.8 per cent lower than the same month last year.<\/p>\n
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\n\u201cSales remained steady through the month of May,\u201d noted O\u2019Neill. \u201cWith the increase in listings and steady sales, we appear to be moving toward more balance, which tends to be a healthier market overall.\u201d
\nThe median price of freehold properties increased by 20.2 per cent over the same month last year while the median price for condominium properties increased by 22.3 per cent compared to the same period.
\nThe average price of freehold properties showed an increase of 24.3 per cent compared to May of last year; the average sale price in the condominium market increased by 19.2 per cent 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 number of days on market decreased from 22 to 16 days in the freehold market and from 25 to 16 days in the condominium market, compared to May of last year. Compared to last month, average days on market rose from 14 days for freehold properties and from 15 days in the condominium market.
\n\u201cThe question I am asked most frequently is whether this change in the market relates to the Fair Housing Plan recently announced by the Ontario government,\u201d added O\u2019Neill. \u201cOur members reported seeing a shift in the market even before the announcement. It\u2019s possible that sellers read and heard that changes were coming and decided to act sooner rather than later. Sales remain strong, suggesting the Non-Resident Speculation Tax announced in April doesn\u2019t seem to have had an influence in our area.\u201d
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\nEvery community in RAHB\u2019s market area has its own localized market. Please refer to the accompanying chart, and contact me ANYTIME for more information.
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RECORD LISTING NUMBERS IN MAY PRESS RELEASE \u2013 For immediate release June 5, 2017 (Hamilton, Ontario) The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported a record 3,208 new listings were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in May, which is 41.1 per cent higher than the same month last year and 34.8 per […]<\/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-2745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-posts"],"acf":[],"yoast_head":"\nHamilton Real Estate - Record Listings but prices still rising! 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