{"id":2842,"date":"2017-08-06T08:38:34","date_gmt":"2017-08-06T12:38:34","guid":{"rendered":"https:\/\/steveroblin.com\/?p=2842"},"modified":"2023-11-28T16:21:09","modified_gmt":"2023-11-28T21:21:09","slug":"hamilton-real-estate-july-stats","status":"publish","type":"post","link":"https:\/\/steveroblin.com\/hamilton-real-estate-july-stats\/","title":{"rendered":"Hamilton Real Estate &#8211; Is the sky falling?? July Stats"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h2>A BIT OF RELIEF FROM THE HEAT&nbsp;FOR HOME BUYERS<\/h2>\n<\/div>\n<p>An interesting few months to say the least in Real Estate. &nbsp;In my opinion the market is just undergoing a correction back towards balance. &nbsp;Hamilton is still one of the best places to invest and the fall will see a return to the market we have known well for the past 5 years. &nbsp;<\/p>\n<div class=\"column\">\nPRESS RELEASE \u2013 For immediate release August 3, 2017 (Hamilton, Ontario)<br \/>\nThe REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 2,013 new listings were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in July, which is 17.8 per cent higher than the same month last year, 9.2 per cent higher than the 10-year average and the most new listings in the month of July.<br \/>\nAll property sales were 20.4 per cent lower than the same month last year, and 12.9 per cent lower than the 10-year average.<br \/>\n\u201cComparing our sales and listings to last year\u2019s shows just how the market has shifted in recent months,\u201d said RAHB CEO George O\u2019Neill. \u201cMore homes on the market and fewer purchasers combine to give more balance to the market.\u201d<br \/>\nSeasonally adjusted* sales of residential properties were 20.5 per cent lower than the same month last year, with the average sale price up 10.1 per cent for the month. Seasonally adjusted numbers of new listings were 22.1 per cent higher than July of 2016.<br \/>\nSeasonally adjusted data for residential properties for the month of July, 2017:\n<\/div>\n<p><a href=\"https:\/\/steveroblin.com\/hamilton-real-estate-is-the-sky-falling-july-stats\/screen-shot-2017-08-13-at-8-39-54-am\/\" rel=\"attachment wp-att-2843\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-2843\" src=\"https:\/\/steveroblin.com\/wp-content\/uploads\/2017\/08\/Screen-Shot-2017-08-13-at-8.39.54-AM-1024x276.png\" alt=\"\" width=\"1024\" height=\"276\"><\/a>\n<\/div>\n<div class=\"layoutArea\">&nbsp;<\/div>\n<\/div>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"layoutArea\">\n<div class=\"column\">\nOverall residential sales of 1,125 units were 21.4 per cent lower than the same month last year. Residential freehold sales were 21.5 per cent lower than July of 2016 while sales in the condominium market were 20.9 per cent lower than the same month last year.<br \/>\n\u201cThe trend that started developing back in April and May seems to be continuing, at least in the short term,\u201d noted O\u2019Neill. \u201cWhere earlier in the year we were seeing list-to-sell ratios as high as 91 per cent \u2013 which indicates a deep seller\u2019s market \u2013 on the residential side, we are now seeing a more moderate market, with a 60 per cent list-to-sell ratio. This is much closer to a balanced market.\u201d<br \/>\nThe median price of freehold properties increased by 11.7 per cent over the same month last year while the median price for condominium properties increased by 21 per cent compared to the same period.<br \/>\nThe average price of freehold properties showed an increase of 9.2 per cent compared to July of last year; the average sale price in the condominium market increased by 20.5 per cent compared to the same period.<br \/>\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.<br \/>\n\u201cHome prices, while higher than last year, have actually dropped from the early highs from March through May,\u201d noted O\u2019Neill. \u201cThe average sale price for residential properties has come down 3.3 per cent from last month and 12.2 per cent from the high in May, while the median price has decreased 11.2 per cent from the high in April. These are certainly not the price drops experienced in other areas of the Greater Toronto- Hamilton area, but may still be an indication that the hot market is cooling \u2013 at least for now.\u201d<br \/>\nThe average number of days on market increased to 25 days from 24 days in the freehold market and decreased from 27 to 25 days in the condominium market, compared to July of last year. Compared to last month, average days on market rose from 18 days for freehold properties and 17 days for condominiums.<br \/>\nThe numbers for the month of July, 2017 compared to July, 2016:<br \/>\n<a href=\"https:\/\/steveroblin.com\/hamilton-real-estate-is-the-sky-falling-july-stats\/screen-shot-2017-08-13-at-8-40-04-am\/\" rel=\"attachment wp-att-2846\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-2846\" src=\"https:\/\/steveroblin.com\/wp-content\/uploads\/2017\/08\/Screen-Shot-2017-08-13-at-8.40.04-AM-1024x260.png\" alt=\"\" width=\"1024\" height=\"260\"><\/a><br \/>\n<a href=\"https:\/\/steveroblin.com\/hamilton-real-estate-is-the-sky-falling-july-stats\/screen-shot-2017-08-13-at-8-40-24-am\/\" rel=\"attachment wp-att-2845\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-2845\" src=\"https:\/\/steveroblin.com\/wp-content\/uploads\/2017\/08\/Screen-Shot-2017-08-13-at-8.40.24-AM-1024x605.png\" alt=\"\" width=\"1024\" height=\"605\"><\/a> <a href=\"https:\/\/steveroblin.com\/hamilton-real-estate-is-the-sky-falling-july-stats\/screen-shot-2017-08-13-at-8-40-32-am\/\" rel=\"attachment wp-att-2844\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-2844\" src=\"https:\/\/steveroblin.com\/wp-content\/uploads\/2017\/08\/Screen-Shot-2017-08-13-at-8.40.32-AM-1024x445.png\" alt=\"\" width=\"1024\" height=\"445\"><\/a>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"page\" title=\"Page 3\">&nbsp;<a href=\"https:\/\/steveroblin.com\/hamilton-real-estate-november-2015-another-sales-record\/judymarsaleslogo\/\" rel=\"attachment wp-att-144\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-144\" src=\"https:\/\/steveroblin.com\/wp-content\/uploads\/2011\/01\/judymarsalesLOGO.jpg\" alt=\"\" width=\"228\" height=\"85\"><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A BIT OF RELIEF FROM THE HEAT&nbsp;FOR HOME BUYERS An interesting few months to say the least in Real Estate. &nbsp;In my opinion the market is just undergoing a correction back towards balance. &nbsp;Hamilton is still one of the best places to invest and the fall will see a return to the market we have [&hellip;]<\/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-2842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-posts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hamilton Real Estate - Is the sky falling?? 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