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Hamilton Real Estate

Market Sales Report For October 2016

 

Houses and Condo Values, Statistics & MLS Properties For Sale

  

OCTOBER 2016 Market Report 

  

 

Hamilton Ontario Real Estate MLS Properties Solds low Inventory for October 2016

Bottom Line: Low inventory Is Affecting Prices!

October 2016 reported slightly higher sales than the same month last year, an increase of 0.3% for a total of 1418 sales. This broke the monthly record, which was set just last year for October! The REALTORS® Association of Hamilton - Burlington (RAHB) also reported that of the total sales, 1342 were Residential properties sold through the RAHB Multiple Listing Service® (MLS) system in October, which is 1.0% lower than October 2015. Sales are still 22% higher than the 10 year average and the end of month inventory is still low, with only about one third of the number of properties as there was a year ago at this time.

There was a 3.2% decrease from last year for the number of properties listed for sale with the number coming in at 1771 for October 2016. Average days on the market decreased from 35 to 22 for freehold, and from 35 to 24 in the condo market compared to September 2015.

"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. 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!

Have questions? Want to know what houses are selling for around you? Thinking of selling sometime in the future and want to know what changes to make so you can get Top Dollar?  

Meet me for coffee, and let's talk!

 Spotlight Area  - Hamilton

Detached Resale Houses For Sale vs October Sales

Real Estate Market Snapshot of Homes Houses Condo For Sale Or Sold Market Snapshot

At the beginning of November 2016, there were only 348 ACTIVE resale detached properties for sale in the City of Hamilton (Picture on the left below).

The price range is from a low of $119,000 (one of only 14 with an asking price of under $200,000 in all of Hamilton) to $3,995,000 on the high end. About one-third,  (115) of them are located on the Hamilton Mountain and they have an average price of just over $500,000. There are only 45 for sale in West Hamilton, with an average asking price of $750,000. 78 are listed for sale in East Hamilton, with an average of $$450,000. That leaves Central Hamilton, with just over one-third, (110) active listings for sale at an average listing price of $350,000.  What this means is there is very little for sale priced under $350,000 and that they are probably listed in Central Hamilton.

The picture on the right shows that there were just under 400 detached resale homes sold in October 2016. The lowest sale price was $119,000 and the highest was $2,125,000. There were only 14 sales for under $200,000 for the month. The average sales price was almost $400,000. More than half, sold for at, or over the asking price in what was probably Multiple Offers. 

With only 348 active listings at the beginning of November and 400 sales in October, you can see the great shortage in inventory, and part of the reason for so many multiple offers. High Demand (from people already living in Hamilton as well as many people moving to Hamilton from other cities) plus Low Supply (not as many people putting their homes up for sale) equals a strong Sellers Market, which usually means higher prices and more competition. 

This is why it is so important that you know about the houses getting listed As Soon As They Hit The Market! Unless you are connected to a Real Estate Agent that has you set up on a search, 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 just too late. 

Want to sign up now so you don't miss out on any more listings? Go to DailyPersonalizedMarketwatch.com

348 Detached Homes For Sale

  as of November 2016

400 Detached Homes Sold

October 2016 

Hamilton for sale Nov 2016 Hamilton Detached Sale October 2016

want-more-to-know about Real Estate Statistics 

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 Hamilton Ontario Real Estate School Neighbourhoods

Schools in and Around Hamilton Area - Click Here

 Walkscore in Hamilton Ontario Neighbourhoods

Walkscores Around Hamilton Areas - Click Here

 

MLS Listing Properties Solds Real Estate Statistics For April 2016 Laura Doucette Sutton  MLS Properties SOLD in October 2016 

For Current Listings:

Click on Each Area Below!

# of Sales

in 2015

# of Sales

in 2016

Average Property

Sold Price - 2015

Average Property

Sold Price - 2016

Hamilton West

54 61 $380,243

$449,445

Hamilton East

83 102 $253,346 $353,304

Hamilton Centre

134 140 $237,123 $296,343

Hamilton Mountain

195 208 $335,301 $437,220

Burlington Area

300 274 $573,109 $648,437

Ancaster Area

58 53 $543,888 $701,948

Dundas Area

32 24 $476,798 $541,092

Flamborough Area

14 18 $622,964 $760,872

Waterdown Area

27 23 $536,943 $548,905

Stoney Creek Area

87 104 $400,802 $475,671

Grimsby Area

26 31 $364,762 $535,429

Glanbrook Area

38 42 $423,011 $485,524

Dunnville Area

18 4 $233,757 $237,125

Caledonia Area

17 9 $336,521 $363,922

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.

   


 
For 2015 Monthly Statistics 

Click Here For Sold Property MLS statistics in Real Estate Laura Doucette Sutton 

For 2016 Monthly Statistics

Click Here For Sold Property MLS statistics in Real Estate Laura Doucette Sutton

 

 

Thinking Of SELLING Your House? 

How To Sell Your House For Top Dollar Fast - Laura Doucette Sutton Group Hamilton Ontario

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Hamilton Ontario Real Estate MLS Properties For Sale Current Market Statistics Homes House Condos Laura Doucette

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