Market Trend Recap - 2010

As seen in Realtors Association of Hamilton - Burlington (RAHB);

"Predictions at the beginning of 2010 indicated brisk sales at the beginning of the year with sales falling off over the last half of the year. Market activity bore out the prediction, with sales coming in at normal levels for the first month of the year, but well above the previous January. Sales in February, March, April and May were higher than average, with April setting a new record for the month. The HST came into effect on July 1 and, as expected, sales dropped off until November, when they leveled off. December sales were unexpectedly high, and were the second highest for the month in 10 years. Mortgage rates, which were expected to rise sharply through the last half of the year, rose briefly early in the year and then dropped back to current levels. Total sales volume for 2010 hit $4.2 Billion, the highest volume on record. The average sale price of all properties hit $314,501, again the highest on record. Higher-than-average numbers of listings were put through the MLS system throughout the year."*

 

-Ashley Mungar

ashley.mungar@century21.ca

www.ashleymungar.com

*Sources: RAHB Annual Report 2010

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