Hamilton, ON (October 2, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,020 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in September 2019. September sales are down from August and July, but are up from September 2018 by 3.2 per cent. The average price for residential properties increased by 8.5 per cent from September 2018 to $609,562.
“With an increase in the number of homes currently available, and a more relaxed pace in the market, this may be an ideal opportunity for buyers to purchase their dream home,” says RAHB President Bob Van de Vrande.”
The number of sales for detached single family properties within the entire RAHB market increased by 6.7 per cent compared to the same month last year, and the average sale price increased by 8.7 per cent. Townhouse sales activity across the entire RAHB market area decreased from September 2018 by 7.4 per cent, and the average townhouse sale price increased by 6 per cent to $513,770. Apartment-style property sales increased by 6 per cent from September 2018, and the average price decreased by 2.6 per cent.
“Average sale prices were up from September 2018 in all four of RAHB’s major communities, yet property activity varied when we look at the smaller individual communities,” adds Van de Vrande. “This is why working with a local REALTOR® is so important – we have the data, resources and first-hand knowledge of the communities in which we live and work.”
Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.
*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. Talk to your local REALTOR®.