Hamilton, Burlington Shows Increase in Listings, Sales & Avg Sale Price

Residential condominium market shines in October

(November 4, 2011 – Hamilton, Ontario) The real estate market in the Greater Hamilton, Burlington and outlying areas* continued to show increases in listings, 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).

The residential condominium market saw the largest gain with an 11.8 per cent increase in the number of sales when compared to October of last year. The same market also saw a 5.9 per cent increase in average sale price over the same month last year. The 199 condominium sales were better than the ten-year average of 194 sales for the month.

In the residential freehold market, sales were up less than one per cent over the same month last year and average sale price was up 5.1 per cent.

Listings were up over both last year and the 10-year average in all sectors.

“October was certainly a good month for condominium sales,” said RAHB President Ann Forbes Arndt. “It was the sector where we saw significantly higher sales over last year at the same time. Freehold sales were pretty much on par with sales last year at this time, but fell short of the average for this time of year.”

Year to date, listings of residential properties are down 3.4 per cent while sales are down 0.4 per cent for the same ten-month period last year. Average sale price, however, is four per cent higher year to date than last year at the same time. Total dollar volume of $3.195B in residential sales is 3.6 per cent higher than last year for the same period.

The numbers for the month of October:

 All Property Types                  2010                      2011                    % change                     10-year average

Listings

1252

1380

10.2%

1339

Sales

928

951

2.5%

999

Average Sale Price

$297,144

$323,124

8.8%

N/A

 Residential Only

Listings

1139

1264

11%

1217

Sales

896

918

2.5%

957

Average Sale Price

$297,562

$311,591

4.7%

N/A

 Freehold Only

Sales

718

719

0.1%

762

Average Sale Price

$312,547

$328,357

5.1%

N/A

 Condominium Only

Sales

178

199

11.8%

194

Average Sale Price

$237,119

$251,012

5.9%

N/A

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

Sales

32

33

-3%

The information provided herein is deemed accurate but not guaranteed.

 Source: RAHB - REALTORS® Association of Hamilton-Burlington.

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Brad Stevenett

Brad Stevenett

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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