MEDIA
RELEASE
December sales strong
(January 7, 2014 – Hamilton, Ontario) The REALTORS® Association of
Hamilton-Burlington (RAHB) reported 743 property sales were processed through
the RAHB Multiple Listing Service® (MLS®) system in December. This represents a 21.6 per cent
increase in sales over December of last year.
There were 659 properties listed in December, a
decrease of nine per cent over the same month last year. End-of-month listing inventory was 11.4
per cent lower than last year at the same time.
The average sale price of $369,212 was 7.1 per cent
higher than last December.
“New
listings were lower than last year,” said RAHB CEO Ross Godsoe. “and were also
significantly lower than the 10-year average for the month of December. Conversely, sales for the month were
not only higher than last year, but were also higher than the 10-year
average. It’s no surprise that our
end of month inventory of listings is down double digits from last year at this
time.”
Seasonally adjusted* sales of residential
properties were 11 per cent higher than the same month last year, with the
average sale price up 9.5 per cent for the month. Seasonally adjusted numbers of new listings were 8.9 per
cent lower than the same month last year.
Seasonally adjusted data for residential properties
for the month of December, 2013:
Seasonally
Adjusted Percentage
change compared to
Residential
Only Dec/13 Nov/13 Oct/13 Sep/13 Aug/13 Dec/12
New Listings
|
1356
|
-14.4%
|
-15.3%
|
-18.6%
|
-18.7%
|
-8.9%
|
Sales
|
1151
|
-4.6%
|
-0.1%
|
-6.7%
|
-2.5%
|
11.0%
|
Average Sale Price
|
$394,875
|
5.0%
|
1.1%
|
0.2%
|
2.9%
|
9.6%
|
Actual overall residential sales were 20.5 per cent
higher than the previous year at the same time. Residential freehold sales were 16.5 per cent higher than
last year and the condominium market saw an increase of 37.7 per cent in
sales. The average price of
freehold properties showed an increase of 11.3 per cent over the same month
last year; the average sale price in the condominium market increased 11.4 per
cent when compared to the same period last year.
The average sale price is based on the total dollar
volume of all 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.
The average days on market decreased from 55 to 52
days in the freehold market and from 52 to 47 days in the condominium market.
“The real estate market in the Hamilton, Burlington
and outlying areas continues to be a strong, stable market,” added Godsoe. “Residential
sales are about seven per cent above the 10-year average for the month of
November.”
The
numbers for the month of December, 2013 compared to December, 2012:
All Property
Types 2012
2013
% Change
Listings
|
659
|
600
|
-9.0%
|
Sales
|
611
|
743
|
21.6%
|
Average Sale Price
|
$344,819
|
$369,212
|
7.1%
|
End of Month Listing Inventory
|
3030
|
2684
|
-11.4%
|
Residential
Only
Listings
|
568
|
530
|
-6.7%
|
Sales
|
572
|
689
|
20.5%
|
Median Sale Price
|
$287,250
|
$312,999
|
9.0%
|
Average Sale Price
|
$335,533
|
$371,037
|
10.6%
|
Average Days on Market
|
55
|
51
|
|
End of Month Listing Inventory
|
2378
|
2053
|
-13.7%
|
Freehold
Only
Listings
|
460
|
434
|
-5.7%
|
Sales
|
466
|
543
|
16.5%
|
Median Sale Price
|
$307,250
|
$335,000
|
9.0%
|
Average Sale Price
|
$351,607
|
$391,463
|
11.3%
|
Average Days on Market
|
55
|
52
|
|
End of Month Listing Inventory
|
2003
|
1705
|
-14.9%
|
Condominium
Only
Listings
|
108
|
96
|
-11.1%
|
Sales
|
106
|
146
|
37.7%
|
Median Sale Price
|
$245,000
|
$264,500
|
8.0%
|
Average Sale Price
|
$264,870
|
$295,070
|
11.4%
|
Average Days on Market
|
52
|
47
|
|
End of Month Listing Inventory
|
375
|
348
|
-7.2%
|
Commercial
Only
Listings
|
91
|
70
|
-23.1%
|
Sales
|
39
|
54
|
38.5%
|
Every
community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart
for residential market activity in select areas in RAHB’s jurisdiction.
*Seasonal
adjustment removes normal seasonal variations, enabling analysis of monthly
changes and fundamental trends in the data.
Established in 1921, the REALTORS® Association of
Hamilton-Burlington (RAHB) represents more than 2,600 real estate brokers and
sales representatives from Hamilton, Burlington and outlying areas. Members of
the association may use the REALTOR® trademark, which identifies
them as real estate professionals who subscribe to a strict code of
ethics. The association operates the
local Multiple Listing Service® (MLS®) and provides
ongoing professional education courses for its members. In addition, RAHB is an
active participant in the Home Ownership Affordability Partnership
(HOAP) and holds an annual auction in support of local charities.
Advertisements of local MLS® property listings and information about the
services provided by a REALTOR® can be found at www.REALTOR.ca.
More
information about RAHB is available at www.rahb.ca.
-30-
For further information,
contact:
Ross Godsoe Valerie
Webster
CEO, RAHB Communications
Coordinator
Ph: 905.529.8101 Ph:
905.529.8101 Ext. 294
E: info@rahb.ca E: valeriew@rahb.ca
Jamie Berube
Sales Representative
(905) 741-9104
RE/MAX Escarpment Realty Inc.
jamieberube@remaxescarpment.com
www.JamieBerube.com
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