{"id":3248,"date":"2018-06-05T08:18:01","date_gmt":"2018-06-05T12:18:01","guid":{"rendered":"https:\/\/steveroblin.com\/?p=3248"},"modified":"2023-11-28T16:23:07","modified_gmt":"2023-11-28T21:23:07","slug":"may-18-real-estate-stats-making-sense-of-this-market","status":"publish","type":"post","link":"https:\/\/steveroblin.com\/may-18-real-estate-stats-making-sense-of-this-market\/","title":{"rendered":"May '18 Real Estate Stats – Making sense of this market"},"content":{"rendered":"
\n

RAHB REALTORS\u00ae Release May Statistics<\/h1>\n

Jun 5, 2018<\/span>| Press Releases<\/a><\/p>\n

\"RAHB<\/div>\n

\nThe REALTORS\u00ae<\/sup> Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service\u00ae<\/sup> (MLS\u00ae<\/sup>) System in May, 27 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month.
\nAll property listings were 19.8 per cent lower than the same month last year, but 5.4 per cent higher than the 10-year average.<\/p>\n

\u201cThere\u2019s definitely been a trend to fewer sales compared to the 10-year average since the spring of last year, when the Fair Housing Act came into effect and, coincidentally, the real estate market underwent a significant change,\u201d said RAHB CEO George O\u2019Neill. \u201cHowever, the local real estate market is stable and is, in fact, following the normal progression of increasing spring-time sales from the lows of December and January.\u201d<\/p><\/blockquote>\n

Overall, residential sales of 1,273 units were 26.2 per cent lower than May of last year. Residential freehold sales were 28.9 per cent lower than the same month last year, while sales in the condominium market were 13 per cent lower.
\nThe median price of freehold properties decreased by 5.7 per cent compared to the same month of the previous year, while the median price for condominium properties remained the same.<\/p>\n

\u201cThe condominium market is not seeing the drop in average and median sale prices seen in the freehold market,\u201d noted O\u2019Neill. \u201cPrices were stable compared to last year, suggesting that lower priced properties and the condo market are faring quite well. That market is also seeing a higher sales-to-new-listing ratio and is on the border between a balanced and seller\u2019s market.\u201d<\/p><\/blockquote>\n

The average price of freehold properties declined by 8.5 per cent from May 2017, and the average sale price in the condominium market increased by nearly one 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<\/sup> 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. Please contact a local REALTOR\u00ae<\/sup> for information about your specific neighbourhood or property.
\nThe average number of days on market rose to 27 days from 16 days in the freehold market and increased to 28 days from 16 days in the condominium market, compared to the same month last year.<\/p>\n

\u201cThere continues to be an increase in average days on market, which is good for the market overall,\u201d added O\u2019Neill. \u201cBuyers have more time; sellers can be more confident that when they sell and turn to buying their next property they won\u2019t be faced with rapidly escalating purchase prices. A RAHB REALTOR\u00ae can help buyers and sellers navigate their way through this.\u201d<\/p><\/blockquote>\n

\"\"
\nEvery community in RAHB\u2019s area has its own localized characteristics that influence that market. Please ensure you contact a local RAHB REALTOR\u00ae<\/sup> for professional advice.
\n\"\"
\n\"\"
\n\"\"<\/p>\n

Contact me anytime for detailed information about your local area of interest!<\/h2>\n

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

RAHB REALTORS\u00ae Release May Statistics Jun 5, 2018| Press Releases The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in May, 27 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month. All property […]<\/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-3248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-posts"],"acf":[],"yoast_head":"\nMay '18 Real Estate Stats - Making sense of this market - 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\/may-18-real-estate-stats-making-sense-of-this-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"May '18 Real Estate Stats - Making sense of this market - Steve Roblin\" \/>\n<meta property=\"og:description\" content=\"RAHB REALTORS\u00ae Release May Statistics Jun 5, 2018| Press Releases The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service\u00ae (MLS\u00ae) System in May, 27 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month. 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