The real estate market in the Greater Hamilton, Burlington and outlying areas* saw an increase in the number of listings and a small decrease in the number of sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
After several months of strong sales, the residential condominium market experienced a drop in number of sales of just under five per cent when compared to December of last year. The same market also saw a 9.9 per cent increase in average sale price over the same month last year.
In the residential freehold market, sales dropped less than two per cent from last year at this time while the average sale price increased by two per cent.
While sales were down compared to last year, listings and sales were both higher than the 10-year average for the month.
“The December market performed well compared to the average for the month over the last ten years,” said RAHB President Cameron Nolan, “and the average sale price continues to rise in our area.”
“Every community in RAHB’s marketing area has their own localized residential market with larger swings than are evident in the overall numbers. In December Hamilton Centre, Dundas, Flamborough and Glanbook all saw significant increases in numbers of sales, while Hamilton Mountain, Ancaster, Waterdown and Caledonia showed drops in sales compared to the same month last year.
Ancaster and Dunnville (area 61) saw decreases in average sale price compared to the same month last year while Hamilton East, Hamilton Mountain, Grimsby and Glanbrook had the greatest increases in average sale price.
“No one should take these monthly snapshots of local markets as trends,” added Nolan. “They are merely a report of what occurred in a particular month and can change wildly from month to month, especially in areas with lower volumes of sales.”
Please refer to the accompanying chart for residential market activities in other parts of RAHB’s jurisdiction.
Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®).
*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.
