RAHB (The REALTORS® Association of Hamilton-Burlington) CEO Ross Godsoe reported "The long winter seems to be having an effect on the real estate market. Our listing inventory continues to be lower than average, and overall, for all property types, we are seeing fewer listings and sales compared to last year." There were 1405 properties listed in February, a decrease of 5.9% from the same month last year. In fact, the amount of homes listed at the end of the month was 12.3 % lower than the same time last year! The Average Sale Price went up 5.8% to $398,973, from last February.
Wondering what Different Style House & Condominiums are Selling For? As of the end of February 2014, the top three selling styles of residential listings in the Hamilton-Burlington Market were the 2 Storey Houses coming in First with 620 sold so far this year and taking an average of 47 days to sell, getting an average price of $484,262. Second place went to 1 Floor Homes, selling 310 total, with an average of $356,285 and on average took about 49 days to sell. Third place went to 1.5 Storey Houses with 146 sold for an average of $337,624 taking on average 58 days on the market to sell. There were 308 total condominiums sold with an average price of $289,336. 126 of them were one-floor condo's, with an average of $288,500, and 108 of them were two-storey condo's, averaging $282,125.
Note: Numbers of sales represents sales reported on properties listed on the Multiple Listing Service (MLS) of the REALTORS Association of Hamilton-Burlington. Average sale price is calculated by dividing the total dollar volume of sales (not shown) by the number of sales in that month.
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