2014 finished with a strong market in Hamilton-Burlington
Holiday shopping and Christmas parties certainly didn't slow things down for the Hamilton real estate market. Stats released by the Realtors Association of Hamilton-Burlington (RAHB) last month showed a 7.6 percent increase in December sales when compared with the same month in 2013. A total of 796 properties changed hands in Hamilton and Burlington during December 2014.
New listings were also high for the month, with 15.4 percent more homes listed than December 2013. End-of-month listing inventory was 13 percent lower and the average price was up by 4.5 percent.
The average price of freehold properties showed an increase of 5.4 per cent compared to the same month the previous year and the average sale price in the condominium market decreased by 2.2 percent when compared to the same period.
The average sale price is based on the total dollar volume of all properties sold in the RAHB market area.
The average days on the market decreased from 51 to 45 days in the freehold market and increased from 47 to 53 days in the condominium market when compared to the same month the previous year.