RAHB December Real Estate Stats – 2018

Hamilton, ON (January 2, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB)reported 534 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December, 2018. Although this is a 26 per cent lower than the same month last year, the average price was up by 2.6 per cent to $543,210. Year-to-date (YTD) sales activity was down by 17.6 per cent from this time last year, and down 12.2 per cent from a decade ago. Average YTD price was also down from a year ago by 1.4 per cent, but up by 90 per cent from 2008. “As we close out 2018, we’ve experienced a different market than the ones from 2016 and 2017,” says RAHB CEO George O’Neill. “Across the RAHB market area we’ve seen decreases in various statistics when compared to last year; however, consumers who have owned their property for the past several years have experienced gains in the value of their property.” The number of sales for … [Read more...]

Hamilton home prices have skyrocketed 70% in the past 5 years: report

Mortgage stress test causing decline in housing affordability, says CREA economist CBC News · Posted: Dec 18, 2018 11:10 AM ET | Last Updated: December 18 Real estate prices in Hamilton and Burlington have seen the fourth-highest increase in Canada over the past five years. (Jonathan Hayward/Canadian Press) Home prices in the Hamilton area have skyrocketed 70 per cent over the past five years, according to a new report from the Canadian Real Estate Association (CREA). The price increase in the Hamilton-Burlington market — where homes have an average price tag of $581,900 — is the fourth highest in Canada, the report says, but the jump was even greater in Niagara Region. Since 2013 years prices have leapt a staggering 79 per cent there, although the average cost of a home there at $393,500 — is almost $200,000 less than Hamilton. CREA economist says the latest numbers indicate that government attempts to slow … [Read more...]

RAHB – Real Estate Statistics Nov – 2018

November Hamilton/Burlington Sales down, prices still up... 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 … [Read more...]

Hamilton Real Estate – October Sales

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,035 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in October, 2018. This is a 13.1 per cent decrease from the same month last year. Year to date, sales are 17.7 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 60.1 per cent. This is higher than last month and on the cusp of returning to a seller’s market. For comparison, in October 2017 the ratio was 65.5 per cent. “The single family market in the overall RAHB area remains in a balanced position, with a good inventory of homes for those looking for a detached property,” says RAHB CEO George O’Neill. The number of sales for single family properties within the entire RAHB market fell compared to the same month last year, while the … [Read more...]

Hamilton Real Estate – June 2018 Statistics

  RAHB REALTORS® RELEASE JUNE STATISTICS PRESS RELEASE – For immediate releaseJuly 5, 2018 (Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,257 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in June, 14.2 per cent fewer than the same month last year and 19.2 per cent fewer than the 10-year average for the month. All property listings were 19 per cent lower than the same month last year, but 1.1 per cent higher than the 10-year average. Residential sales were 13.7 per cent lower than June of last year, with residential freehold sales 13.3 per cent lower and condominium sales 15.6 per cent lower than the same month last year. “Having a more balanced market this year really showcases how busy the market was for the last few years,” says RAHB CEO George O’Neill. “Sales and listings are down from last year, but they’re being compared to a year impacted by government regulations. The regular spring … [Read more...]

May ’18 Real Estate Stats – Making sense of this market

RAHB REALTORS® Release May Statistics Jun 5, 2018| Press Releases The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service® (MLS®) 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 listings were 19.8 per cent lower than the same month last year, but 5.4 per cent higher than the 10-year average. “There’s 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,” said RAHB CEO George O’Neill. “However, 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.” Overall, residential sales of 1,273 units were 26.2 per cent lower than May of last year. … [Read more...]

Hamilton Real Estate – April 2018 Statistics

  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,185 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in April, 32.4 per cent fewer than the same month last year and 21.7 per cent fewer than the 10-year average for the month. All property listings were 10.5 per cent lower than the same month last year and 5.2 per cent lower than the 10-year average. “It’s no surprise sales were down from last April, when we saw a record in that month,” said RAHB CEO George O’Neill. Overall residential sales of 1,144 units were 31 per cent lower than April last year. Residential freehold sales were 34.4 per cent lower than the same month last year while sales in the condominium market were 15.7 per cent lower. The median price of freehold properties decreased by 8.4 per cent over the same month of the previous year, while the median price for condominium properties decreased by 2.1 one per cent compared to the same period. The … [Read more...]

March 2018 Hamilton/Burlington Real Estate Statistics

RAHB REALTORS® RELEASE MARCH STATISTICS The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,099 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March, 38.6 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month. All property listings were 13.5 per cent lower than the same month last year and 8.1 per cent lower than the 10-year average. “Our area experienced similar cooling off as is being reported by other real estate markets in the Golden Horseshoe area,” said RAHB CEO George O’Neill. “Local sales were lower not only compared to March of last year, but also compared to the 10-year average for March.” Seasonally adjusted* sales of residential properties were 34 per cent lower than the same month last year, with the average sale price down 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 3.2 per cent lower than March of 2017. Overall … [Read more...]

Hamilton Real Estate Statistics – Feb 2018

SLOWDOWN IN FEBRUARY MARKET PRESS RELEASE – For immediate release March 5, 2018 (Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 779 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February, 40.3 per cent fewer than the same month last year and 25.7 per cent lower than the 10-year average for the month. All property listings were 15 per cent lower than the same month last year and 21.4 per cent lower than the 10-year average. “February’s real estate market experienced a significant slowdown, and that’s compared not just to last year, but to the last 10 to 15 years as well,” said RAHB CEO George O’Neill. “In fact, the number of new listings was the lowest in the last 15 years and the number of sales was the second-lowest in that same 15 year period.” Seasonally adjusted* sales of residential properties were 38.9 per cent lower than the same month last year, with the average sale price down 0.2 per cent for … [Read more...]

January 2018 – Hamilton Real Estate Statistics

MID-WINTER CHILL ON SALES PRESS RELEASE – For immediate release February 5, 2018 (Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 660 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in January, 27.2 per cent fewer than the same month last year and 12.5 per cent lower than the 10-year average for the month. All property listings were 6.3 per cent higher than the same month last year and 22.3 per cent lower than the 10-year average. “We definitely saw a real estate market hit by the winter chill,” said RAHB CEO George O’Neill. “Both listings and sales were considerably lower than the 10-year average for the month of January. Even so, with more listings at the end of the month than last year, we have a more balanced market, with a sales-to-new listings ratio of 56.7 per cent and over three months of listing inventory for the residential market.” Seasonally adjusted* sales of residential properties were 30.6 per … [Read more...]