{"id":759,"date":"2012-09-07T13:04:53","date_gmt":"2012-09-07T17:04:53","guid":{"rendered":"https:\/\/steveroblin.com\/?p=759"},"modified":"2023-11-28T16:23:11","modified_gmt":"2023-11-28T21:23:11","slug":"residential-average-sale-price-up-in-august","status":"publish","type":"post","link":"https:\/\/steveroblin.com\/residential-average-sale-price-up-in-august\/","title":{"rendered":"Residential Average Sale Price Up in August"},"content":{"rendered":"

(September 7, 2012 \u2013 Hamilton, Ontario)\u00a0 The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported the residential market saw a 13.5 per cent increase in average sale price in August compared to the same month last year.\u00a0\u00a0\u00a0 Median sale prices also saw gains over August of last year.<\/span><\/p>\n

Remember number of sales are down and there is less “inventory” out there so that will help to increase average sales price on top of regular appreciation.<\/span>
\nSeasonally adjusted* sales of residential properties were 13 per cent lower than the same month last year, with the average sale price up 13.3 per cent for the month.\u00a0 Seasonally adjusted numbers of new listings were 8.4% per cent lower than the same month last year.<\/span>
\nSeasonally adjusted data for residential properties for the month of August:<\/span>
\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n
Seasonally Adjusted<\/strong>
\nResidential Only<\/strong><\/span><\/span><\/td>\n		\n
\u00a0\u00a0 Percentage change compared to\u00a0\u00a0\u00a0<\/span><\/strong><\/div>\n<\/td>\n<\/tr>\n
\n
Aug\/12<\/span><\/strong><\/div>\n<\/td>\n
\n
Jul\/12\u00a0\u00a0<\/span><\/strong><\/div>\n<\/td>\n
\n
\u00a0Jun\/12<\/span><\/strong><\/div>\n<\/td>\n
\n
\u00a0May\/12<\/span><\/strong><\/div>\n<\/td>\n
\n
\u00a0Apr\/12<\/span><\/strong><\/div>\n<\/td>\n
\n
Aug\/11<\/span><\/strong><\/div>\n<\/td>\n<\/tr>\n
\nNew Listings<\/span><\/td>\n\n

1070<\/span><\/p>\n<\/td>\n

\n

0.4%<\/span><\/p>\n<\/td>\n

\n

-0.5%<\/span><\/p>\n<\/td>\n

\n

-2.0%<\/span><\/p>\n<\/td>\n

\n

-5.7%<\/span><\/p>\n<\/td>\n

\n

-8.4%<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales<\/span><\/td>\n\n

2904<\/span><\/p>\n<\/td>\n

\n

-3.9%<\/span><\/p>\n<\/td>\n

\n

-4.3%<\/span><\/p>\n<\/td>\n

\n

-0.1%<\/span><\/p>\n<\/td>\n

\n

-1.2%<\/span><\/p>\n<\/td>\n

\n

-13.0%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Sale Price<\/span><\/td>\n\n

$372,908<\/span><\/p>\n<\/td>\n

\n

4.5%<\/span><\/p>\n<\/td>\n

\n

3.9%<\/span><\/p>\n<\/td>\n

\n

4.2%<\/span><\/p>\n<\/td>\n

\n

3.3%<\/span><\/p>\n<\/td>\n

\n

13.3%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0The seasonally adjusted average price for August is the highest we have on record.\u00a0 The decreased inventory has created greater competition among home buyers.\u00a0 In the condo market, August saw more sales than new listings, indicating a very strong seller\u2019s market. \u00a0 \u00a0<\/span>
\nThe average sale price is based on the total dollar volume of all residential properties sold. Average sale price information 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.<\/span>
\nYear to date, the average sale price for residential units is 7.1 per cent higher for the first eight \u00a0months of this year compared to the same eight-month period last year.\u00a0 Numbers of residential property sales are down 4.1 per cent.\u00a0 \u00a0\u00a0New listings are down 8.6 per cent and there were 18.4 per cent fewer listings active at the end of the month.<\/span>
\nThe numbers for the month of August compared to August of last year:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0All Property Types\u00a0<\/strong>\u2013 Actual\u00a0<\/strong><\/strong><\/span><\/span><\/td>\n\n

2011<\/span><\/strong><\/p>\n<\/td>\n

\n

2012<\/span><\/strong><\/p>\n<\/td>\n

\n

% Change<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n

Listings<\/span><\/td>\n\n

1825<\/span><\/p>\n<\/td>\n

\n

1527<\/span><\/p>\n<\/td>\n

\n

-16.3%<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales<\/span><\/td>\n\n

1248<\/span><\/p>\n<\/td>\n

\n

1116<\/span><\/p>\n<\/td>\n

\n

-10.6%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Sale Price<\/span><\/td>\n\n

$328,713<\/span><\/p>\n<\/td>\n

\n

$368,875<\/span><\/p>\n<\/td>\n

\n

12.2%<\/span><\/p>\n<\/td>\n<\/tr>\n

End of Month Listing Inventory<\/span><\/td>\n\n

4797<\/span><\/p>\n<\/td>\n

\n

3822<\/span><\/p>\n<\/td>\n

\n

-20.3%<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
Residential Only\u00a0<\/strong>\u2013 Actual<\/strong><\/strong><\/span><\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Listings<\/span><\/td>\n\n

1693<\/span><\/p>\n<\/td>\n

\n

1390<\/span><\/p>\n<\/td>\n

\n

-17.9%<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales<\/span><\/td>\n\n

1199<\/span><\/p>\n<\/td>\n

\n

1069<\/span><\/p>\n<\/td>\n

\n

-10.8%<\/span><\/p>\n<\/td>\n<\/tr>\n

Median Sale Price<\/span><\/td>\n\n

$281,500<\/span><\/p>\n<\/td>\n

\n

$295,000<\/span><\/p>\n<\/td>\n

\n

4.8%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Sale Price<\/span><\/td>\n\n

$321,338<\/span><\/p>\n<\/td>\n

\n

$364,578<\/span><\/p>\n<\/td>\n

\n

13.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Days On Market<\/span><\/td>\n\n

55<\/span><\/p>\n<\/td>\n

\n

44<\/span><\/p>\n<\/td>\n

\n

-20.0%<\/span><\/p>\n<\/td>\n<\/tr>\n

End of Month Listing Inventory<\/span><\/td>\n\n

3866<\/span><\/p>\n<\/td>\n

\n

3009<\/span><\/p>\n<\/td>\n

\n

-22.2%<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
Freehold Only\u00a0<\/strong>\u2013 Actual<\/strong><\/strong><\/span><\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Listings<\/span><\/td>\n\n

1402<\/span><\/p>\n<\/td>\n

\n

1162<\/span><\/p>\n<\/td>\n

\n

-17.1%<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales<\/span><\/td>\n\n

979<\/span><\/p>\n<\/td>\n

\n

845<\/span><\/p>\n<\/td>\n

\n

-13.7%<\/span><\/p>\n<\/td>\n<\/tr>\n

Median Sale Price<\/span><\/td>\n\n

$303,000<\/span><\/p>\n<\/td>\n

\n

$319,000<\/span><\/p>\n<\/td>\n

\n

5.3%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Sale Price<\/span><\/td>\n\n

$338,553<\/span><\/p>\n<\/td>\n

\n

$392,945<\/span><\/p>\n<\/td>\n

\n

16.1%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Days On Market<\/span><\/td>\n\n

54<\/span><\/p>\n<\/td>\n

\n

44<\/span><\/p>\n<\/td>\n

\n

-18.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

End of Month Listing Inventory<\/span><\/td>\n\n

3200<\/span><\/p>\n<\/td>\n

\n

2569<\/span><\/p>\n<\/td>\n

\n

-19.7%<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
Condo Only\u00a0<\/strong>\u2013 Actual<\/strong><\/strong><\/span><\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Listings<\/span><\/td>\n\n

291<\/span><\/p>\n<\/td>\n

\n

228<\/span><\/p>\n<\/td>\n

\n

-21.6%<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales<\/span><\/td>\n\n

220<\/span><\/p>\n<\/td>\n

\n

224<\/span><\/p>\n<\/td>\n

\n

1.8%<\/span><\/p>\n<\/td>\n<\/tr>\n

Median Sale Price<\/span><\/td>\n\n

$228,450<\/span><\/p>\n<\/td>\n

\n

$241,550<\/span><\/p>\n<\/td>\n

\n

5.7%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Sale Price<\/span><\/td>\n\n

$244,730<\/span><\/p>\n<\/td>\n

\n

$257,566<\/span><\/p>\n<\/td>\n

\n

5.2%<\/span><\/p>\n<\/td>\n<\/tr>\n

Average Days On Market<\/span><\/td>\n\n

59<\/span><\/p>\n<\/td>\n

\n

45<\/span><\/p>\n<\/td>\n

\n

-23.7%<\/span><\/p>\n<\/td>\n<\/tr>\n

End of Month Listing Inventory<\/span><\/td>\n\n

666<\/span><\/p>\n<\/td>\n

\n

440<\/span><\/p>\n<\/td>\n

\n

-33.9%<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
Commercial Only\u00a0<\/strong>\u2013 Actual<\/strong><\/strong><\/span><\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Sales<\/span><\/td>\n\n

49<\/span><\/p>\n<\/td>\n

\n

47<\/span><\/p>\n<\/td>\n

\n

-4.1%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Every community in RAHB\u2019s marketing area has their own localized residential market.\u00a0 Please refer to the accompanying chart for residential market activities in select areas of RAHB\u2019s jurisdiction.<\/span>
\n*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.<\/span><\/p>\n


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

(September 7, 2012 \u2013 Hamilton, Ontario)\u00a0 The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported the residential market saw a 13.5 per cent increase in average sale price in August compared to the same month last year.\u00a0\u00a0\u00a0 Median sale prices also saw gains over August of last year. Remember number of sales are down and there is […]<\/p>\n","protected":false},"author":3,"featured_media":128,"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-759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-posts"],"acf":[],"yoast_head":"\nResidential Average Sale Price Up in August - 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\/residential-average-sale-price-up-in-august\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Residential Average Sale Price Up in August - Steve Roblin\" \/>\n<meta property=\"og:description\" content=\"(September 7, 2012 \u2013 Hamilton, Ontario)\u00a0 The REALTORS\u00ae Association of Hamilton-Burlington (RAHB) reported the residential market saw a 13.5 per cent increase in average sale price in August compared to the same month last year.\u00a0\u00a0\u00a0 Median sale prices also saw gains over August of last year. 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