In October, The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1258 property sales through the RAHB Multiple Listing Service® (MLS) system, which is 4.5% more than October 2013. The number of properties listed was also higher than the same month last year, by 4.4%, with 1821 listed for sale this October. RAHB CEO Ross Godsoe reported that "listings & sales are both well above average".
Year to date numbers show listings are up 2.2% and sales are up 6.1% for the same period. The average sale price is up 5.6%.
If you are a First Time Homebuyer, just getting into the Real Estate Market, and especially if you are re-locating from outside the Hamilton-Burlington area, it would be a great idea to sit down with a local Real Estate Agent and let us show you the statistics. We can teach you which area values are going up the fastest...the up and coming districts. If you are thinking about buying a house for $250,000, check and see what the average sales are in that area to make sure the average is not well below the amount you are paying. One of the best ways to protect your investment is to buy a home at or below the average in the best area possible.
For instance, if you look at the chart below, Hamilton Mountain had an average sales price of $301,953 for October 2014. The mountain is split up into six districts, West Mountain, districts 15, and 16, Central Mountain, districts 17 and 18, and East Mountain, districts 25 and 26. Year to date the averages in each of those districts range from a low of $252,422 in district 17 (North Central Hamilton Mountain) to a high of $333,220 in district 15 (South West Hamilton Mountain). Therefore buying your first home for $250,000 anywhere on the mountain is an excellent investment.
Check HERE for a GREAT overview of Hamilton Ontario, including past statistics, neighbourhoods, walk scores, schools, and much more!
Contact Laura Doucette, Sales Representative for Sutton Group Innovative Realty Inc., Brokerage to help you with YOUR Search for Affordable Residential Homes Houses and Condo's and Get Information on Pricing, Sales and Market Conditions.
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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