The REALTORS® Association of Hamilton Burlington (RAHB) reported 1438 residential property sales through the RAHB Multiple Listing Service® (MLS) system in July, which is 7.9% lower than July 2015.
There was a 13.9%decrease from last year for the number of properties listed for sale with the number coming in at 1703 for July 2016, which is 7.5% lower than the 10-year average.
Average days on the market decreased from 33 to 24 for freehold, and from 30 to 27 in the condo market compared to July 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?
At the beginning of August 2016, there were 73 detached resale houses for sale (picture on the left below). Of those, 5 have been reported as conditionally sold.
The price range is from a low of $459,900 to $4,249,444 on the high end. Only 22 of these are listed for sale under $700,000, and only 3 under $500,000.
The picture on the right shows the 49 Detached Homes that sold in the same area in July 2016. There were 22 listed for under $600,000, of which only 12 actually sold for under $600,000. There were 6 homes sold for over a million, and one of those sold for over 2 million dollars. Average days on the market was 33 and the average selling price for July was $751,861.
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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.
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