House & Condo Values, Statistics & MLS Properties For Sale
Bottom Line: Your House Price Went Up!
November 2016 sales of 1323 Units set another record, and that is the fifth month so far this year that did so. Residential sales of 1267 were 5.3% higher than November 2015, with Freehold just 2.9% higher and Condominiums 16.6% higher than last year in November. The REALTORS® Association of Hamilton - Burlington (RAHB) also reported that the Average Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in November 2016 was $515,755 compared to $430,331 the same month last year, an increase of 19%! The end of month inventory is still very low, with only about only 1558 Residential Properties for sale compared to 2310 left at the end of November 2015.
In a Sellers Market it is imperative 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.
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There was an 11.4% increase from last year for the number of properties listed for sale with the number coming in at 1500 for November 2016. Average days on the market decreased from 36 to 25 for freehold, and from 34 to 26 in the condo market compared to the same month last year.
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!
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Real Estate Market Values in Hamilton Districts and Neighbourhoods
So far this year Hamilton has broken 5 monthly records for total Units Sold across the city and the Average Prices and been steadily going up. What does that mean to you if you are thinking about selling your House or Condominium? You need to know how the average prices are in changing in YOUR area or neighbourhood. Overall there were 5323 Sales For 2015 (January-November) with an Overall Average Selling Price of 296,192. In 2016 there have been only 5205 Sales so far (Jan-Nov) and the Average Sales Price is $353,590 (a $57,398 increase!).
Year to date numbers (See 2015 Hamilton Statistic Pic Below) show that as of November 2015 West Hamilton had 712 Sales with an average price of $369,963. Central Hamilton had 1448 Sales with the Average Price being $235,492. East Hamilton had 942 Sales, with an Average Price of $243,332 and Hamilton Mountain had 2221 Sales with the average Price being $334,537.
So far in 2016...
(See 2016 Hamilton Statistics Pic Below), the Year To Date Numbers (January-November) in each of these area's in Hamilton, have increased significantly!
In West Hamilton there have been just 699 Sales with an Average Selling Price of $415,694 (an increase of over $45,000). Cental Hamilton saw 1362 Sales so far this year at an Average Selling Price of $284,077 (over $48,000 increase). East Hamilton had 985 Sales (the only area of Hamilton with an increase in the number of sales for the same time period) with the Average Selling Price of $306,443 (an increase of over $63,000!). Hamilton Mountain had just 2150 Sales with an Average Selling Price of almost $400,000 ($398,846) and had the biggest increase of over $64,000.
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.
Previous Monthly Real Estate Solds Reports & Market Values
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