Jacqui Lamb

Sutton Group Innovative Realty Inc., Brokerage

"Service You Can Trust"

Jacqui Lamb

December better than average for home sales

(January 5, 2012 – Hamilton, Ontario) The real estate market in the Greater Hamilton, Burlington and outlying areas* saw an increase in the number of listings and a small decrease in the number of sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).

After several months of strong sales, the residential condominium market experienced a drop in number of sales of just under five per cent when compared to December of last year. The same market also saw a 9.9 per cent increase in average sale price over the same month last year.

In the residential freehold market, sales dropped less than two per cent from last year at this time while the average sale price increased by two per cent.

While sales were down compared to last year, listings and sales were both higher than the 10-year average for the month.

“The December market performed well compared to the average for the month over the last ten years,” said RAHB President Cameron Nolan, “and the average sale price continues to rise in our area.”

The numbers for the month of December:

All Property Types 2010 2011 % change 10-year average

Listings	531	618	16.2%	573
Sales	628	622	-1%	613
Average Sale Price	$309,987	$308,477	-0.5%	N/A

Residential Only

Listings	468	531	13.5%	502
Sales	604	594	-1.7%	580
Average Sale Price	$297,729	$303,830	2%	N/A

Freehold Only

Sales	477	473	-0.8%	459
Average Sale Price	$316,647	$317,823	0.4	N/A

Condominium Only

Sales	127	121	-4.7	121
Average Sale Price	$226,674	$249,131	9.9%	N/A

Commercial Properties (includes industrial, farm, vacant land, multi-residential and business)

Sales

16.7%

Every community in RAHB’s marketing area has their own localized residential market with larger swings than are evident in the overall numbers. In December Hamilton Centre, Dundas, Flamborough and Glanbook all saw significant increases in numbers of sales, while Hamilton Mountain, Ancaster, Waterdown and Caledonia showed drops in sales compared to the same month last year.

Ancaster and Dunnville (area 61) saw decreases in average sale price compared to the same month last year while Hamilton East, Hamilton Mountain, Grimsby and Glanbrook had the greatest increases in average sale price.

“No one should take these monthly snapshots of local markets as trends,” added Nolan. “They are merely a report of what occurred in a particular month and can change wildly from month to month, especially in areas with lower volumes of sales.”

Please refer to the accompanying chart for residential market activities in other parts of RAHB’s jurisdiction.

Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®).

*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,500 real estate brokers and sales representatives from Hamilton, Burlington, and outlying areas.Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. In addition, RAHB is an active participant in the Home Ownership Affordability Partnership (HOAP) and holds an annual auction in support of local charities. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about RAHB is available at www.rahb.ca.

Repairs and Maintenance Selling A Home Buying A Home Community Information

Jacqui Lamb, Sales Representative
Sutton Group Innovative Realty Inc., Brokerage

Independently Owned and Operated

1423 Upper Ottawa St
Suite #1
Hamilton, Ontario L8W 3J6
Telephone: (905) 575-7070
Fax: (905) 575-8878

Link Exchange Webmasters helping webmasters develop high value relevant links. Promoting ethical web-marketing using the time trusted pillars of relevance and popularity.