{"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 – Is the sky falling?? July Stats"},"content":{"rendered":"
An interesting few months to say the least in Real Estate. In my opinion the market is just undergoing a correction back towards balance. 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. <\/p>\n
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\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
\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.
\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.
\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.
\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
\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.
\nThe numbers for the month of July, 2017 compared to July, 2016:
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