(October
3 – Hamilton, Ontario) The REALTORS®
Association of Hamilton-Burlington (RAHB) reported 1286 property sales processed
through the RAHB Multiple Listing Service® (MLS®) system
in September. This represents a seven
per cent increase in sales compared to September of last year.
There
were 2017 properties listed in September, an increase of 2.3 per cent over the
same month last year. End-of-month
listing inventory was 10.3 per cent lower than last year at the same time.
“Sales
were the highest we’ve seen for the month of September, ever,” said RAHB President
Tim Mattioli. “The strong market seen through the summer is continuing into the
fall.”
Seasonally
adjusted* sales of residential properties were less than one per cent higher
than the same month last year, with the average sale price up 5.3 per cent for
the month. Seasonally adjusted numbers
of new listings were 1.7 per cent lower than the same month last year.
Seasonally
adjusted data for residential properties for the month of September, 2014:
Seasonally Adjusted Percentage
change compared to
Residential Only Sep/14 Aug/14 Jul/14 Jun/14 May/14 Sep/13
New
Listings
|
1624
|
-1.1%
|
-2.4%
|
-5.6%
|
-5.0%
|
-1.7%
|
Sales
|
1234
|
0.7%
|
-2.3%
|
0.2%
|
0.4%
|
0.3%
|
Average
Sale Price
|
$411,579
|
1.5%
|
0.5%
|
2.7%
|
4.9%
|
5.3%
|
Actual
overall residential sales were 6.7 per cent higher than the previous year at
the same time. Residential freehold
sales were four per cent higher than last year while sales in the condominium
market saw an increase of 19.9 per cent.
“The
condominium market in particular saw a big jump in sales,” said Mattioli. “With new listings at about the same level as
last year and sales being almost 20 per cent higher than last year, there were
considerably fewer condo listings in inventory at the end of the month.”
The
average price of freehold properties showed an increase of 4.8 per cent
compared to the same month last year; the average sale price in the condominium
market increased 17 per cent when compared to the same period last year.
The
average sale price is based on the total dollar volume of all properties sold
in the RAHB market area. Average sale
price information can be useful in establishing long term trends, but should
not be used as an indicator that specific properties have increased or
decreased in value.
The
average days on the market decreased from 44 to 38 days in the freehold market
and increased from 42 to 44 days in the condominium market when compared to the
same month last year.
Year
to date, listings are 1.9 per cent higher than the same January-to-September
period a year ago. Sales are 6.4 per
cent higher and the average sale price is 5.5 per cent higher for the period.
The numbers for the month of September, 2014
compared to September, 2013:
All Property Types 2013
2014 % Change
Listings
|
1972
|
2017
|
2.3%
|
Sales
|
1202
|
1286
|
7.0%
|
Average
Sale Price
|
$391,621
|
$418,408
|
6.8%
|
End
of Month Listing Inventory
|
4212
|
3780
|
-10.3%
|
Residential Only
Listings
|
1816
|
1881
|
3.6%
|
Sales
|
1150
|
1227
|
6.7%
|
Median
Sale Price
|
$328,500
|
$350,000
|
6.5%
|
Average
Sale Price
|
$390,388
|
$411,699
|
5.5%
|
Average
Days on Market
|
44
|
39
|
|
End
of Month Listing Inventory
|
3402
|
3062
|
-10.0%
|
Freehold Only
Listings
|
1499
|
1560
|
4.1%
|
Sales
|
954
|
992
|
4.0%
|
Median
Sale Price
|
$362,750
|
$372,450
|
2.7%
|
Average
Sale Price
|
$417,070
|
$437,026
|
4.8%
|
Average
Days on Market
|
44
|
38
|
|
End
of Month Listing Inventory
|
2773
|
2575
|
-7.1%
|
Condominium Only
Listings
|
317
|
321
|
1.3%
|
Sales
|
196
|
235
|
19.9%
|
Median
Sale Price
|
$248,250
|
$276,000
|
11.2%
|
Average
Sale Price
|
$260,522
|
$304,787
|
17.0%
|
Average
Days on Market
|
42
|
44
|
|
End
of Month Listing Inventory
|
629
|
487
|
-22.6%
|
Commercial Only
Listings
|
156
|
136
|
-12.8%
|
Sales
|
52
|
59
|
13.5%
|
Every community in RAHB’s market area has its
own localized residential market. Please
refer to the accompanying chart for residential market activity in select areas
in RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal
variations, enabling analysis of monthly changes and fundamental trends in the
data.
No comments:
Post a Comment