Hamilton – Burlington & Area Stats

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 862 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in November, 2018.

 This is a 17.1 per cent decrease from the same month last year. Year to date, sales are 17.4 per cent lower than last year at this same time.

 The sales-to-new-listings ratio, which can point to whether a market is in favour of sellers (above 60 per cent) or buyers (below 40 per cent), was 71.2 per cent – the low end of a seller’s market. For comparison, in November 2017 the ratio was 69.9 per cent.

 “The numbers this month point to a seller’s market; however, this number represents our entire market area that covers Hamilton, Burlington, Haldimand and Niagara North, and may not be indicative for each individual area.” says RAHB CEO George O’Neill. “Each area is different and distinct, that’s why it’s best to talk to a local REALTOR®, as they know the neighbourhood trends.”

 The number of sales for single family properties within the entire RAHB market fell by 17.5 per cent compared to the same month last year, while the average sale price increased by 5.2 per cent. Townhouse sales activity was also down from 2017, while the average townhouse sale price rose by 5.6 per cent.

 Apartment-style property sales rose 3.1 per cent compared to November of last year; however, average sale price decreased by 1.6 per cent compared to last November.

 All major areas within RAHB’s market saw an increase in overall average sale price. There was also an increase in average sale price for all property styles in each of the four RAHB market areas, with the exception of apartment-style properties in Hamilton and Niagara North.

 “November and December are typically slower months in real estate, which is why there is a decrease in the number of new listings for this month,” says O’Neill. “With the decrease in new listings from the same time last year, combined with increases in average sale price for detached homes and townhouses, it will be interesting to see what the market will do for the remainder of year and leading into 2019.”

Sutton Group Realty Systems Inc. Brokerage
416-762-4200    905-896-3333

Leave a Reply