Including Houses, Homes, Townhouses, & Condo Values, Current MLS Listings, & Average Selling Home Prices
For West, Central, East Hamilton, Mountain, Dundas, Ancaster, Glanbrook & Stoney Creek
Hamilton Real EstateMarch 2018Market Report
March 2018 showed 1909 New Listings come on the Hamilton Real Estate Market from ALL Property Types (1747 From Residential Only).
This is 13.5.0% LOWER than March 2017 (13.2% lower for Residential Only), and 8.1% lower than the 10-year average, as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB).
All Residential Only Sales of 1050Properties were down by 37.2% from the same month last year.
The Average Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in March 2018 was $530,842 compared to $615,776 the same month last year, a decreaseof 13.8%. That is broken down between Residential Freehold Average Price of $565,500 (down from $668,888 in March 2017) and the Condominium Average Price at $401,578 (down slightly from $408,117 in March 2017).
The end of month listing inventory shows 1666Freehold Residential Properties left for sale, up 59.3% compared to 1046 still available for sale at the end of March last year. Average days on the market increased from 17 to 26 for Freehold this past month, and from 19 to 29 for Condominiums.
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The map below shows the current Year to Date Average Residential Prices. Some of the areas not included in the map below are...
Burlington $714,776(up from $679,774)
Flamborough $748,293(down from $753,935)
Waterdown $636,839(up from $615,263)
Grimsby $550,319(down from $539,113)
Caledonia $457,871(down from $500,820)
Cayuga $503,929(down from $526,500)
Dunnville $397,638(up from $338,067)
When looking at the Average Prices in and around Hamilton, it is important to note how they have changed significantly over the last year and even now from month to month. If you are thinking of selling your house or condominium, get the most up to date, LOCAL information. A Market Evaluation and/or a Mortgage Pre-Approval done even a couple of months ago MUST be updated!
Always remember that "Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. 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." What that means is not every house or condo has increased in price by the same percentage. It is really important to talk to an experienced local REALTOR® to see EXACTLY what is happening in your particular neighbourhood. It is also important to find out what you can do to your house to get the highest amount possible when you are ready to sell!
In this Market, it is important that you know about the houses getting listed Immediately! Click Here to get set up on the Instant Notification Search, otherwise, you will only know about listings once they are reported to the public sites. If you wait till you see it on Realtor.ca or other sites, it's too late, and is probably already SOLD!
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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.
Laura Doucette, at Sutton Group Innovative Realty Inc., Brokerage (in Real Estate since 1990) can give you the LOCAL market knowledge and experience needed to help you buy your first home, next home, retirement home, or investment property. Laura is also ASA Certified (Accredited Senior Agent) if you are helping an elderly parent with the sale of their home.