Keeping REALTORS® in the Hamilton-Burlington area informed Aug 17 2010
Good inventory of listings – it’s a great time to buy The Hamilton-Burlington area resale market reported a total of 1002 units sold in July, indicating a decrease of 26.7 per cent from the same month last year and a decrease of 26 per cent from June of this year, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).
“July was certainly a quiet month for sales,” said Joe Ferrante, RAHB President, “but it was not at all unexpected. Despite the slower sales in July, our year-to-date sales are still up 10.7 per cent over this time last year.”
Residential properties sold during July totalled 965 which included 755 freehold properties and 210 condominiums. Commercial sales for July, including industrial, farm, vacant land and business, totalled 37 units. The average price of freehold residential properties sold in the month of July was $329,317, an increase of 5.5 per cent over July last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
In the condominium market the average price of condominiums in July was $237,304, an increase of 1.6 per cent over July 2009. The total number of units listed for sale during July was 1622, which is about even to the number listed in the same period in 2009. “We have a good inventory of listings,” added Ferrante, “which makes Hamilton, Burlington and our outlying areas such a great place to buy real estate right now.
” Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.