May 2014 Stats from the Hamilton - Burlington Real Estate Board (RAHB - REALTOR®'s Association of Hamilton Burlington) which covers many areas including Dundas, Ancaster, Stoney Creek, Glanbrook, Caledonia, Waterdown, Grimsby Ontario, to name a few, show that there were over 2400 properties listed for sale and a record breaking 1660 property sales! This broke the record set in 2009 by 3.5%! Overall, listings are down by only 1 percent from the same time last year, and sales are 2% higher, and the average sale price is 5% higher so far in 2014 compared to 2013.
The average days on market decreased from 39 - 34 days in the Freehold market and from 37 - 36 days in the Condominium market. That means that the houses, homes and condo's being put up for sale, are not lasting very long, if they are listed at the right price! Market Value is changing every day. This makes it more challenging for Sellers to set a proper price for their house that they are thinking of listing for sale. It is imperative that Home Sellers talk to a qualified LOCAL Real Estate Agent to make sure they are kept apprised of the changing market. Out of town Buyers should also be using LOCAL Real Estate Agents to make sure they are paying fair market value in the area they are buying. Hamilton prices are much lower than Toronto prices...that's a fact. How much lower? Which areas are going up the fastest? What style of house sells the fastest? Are Freehold Townhomes going up in value as much as Condominium Townhouses? What about the new style of Townhouse that is part Freehold and part Condominium? Want to meet up for a coffee and talk about the answers?
Have a look at the stats below in the graph, & let me know if you have anyquestions at all!
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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