Wednesday, August 19, 2009

July Sales Right On Mark

The Hamilton-Burlington area resale market reported a total of 1,369 units sold in July, indicating an increase of 10.6 per cent over the same month last year. The total unit sales for the first seven months of 2009 are being reported at 7.4 per cent lower for the same period last year, while new units listed are 8.3 per cent lower for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“The summer market has continued with the strength seen in the spring,” said Bruce King, RAHB President. “July marked the second month where sales and average price were up, year over year. Consumers continue to see value and opportunity in the greater Hamilton-Burlington area.”

Residential properties sold during July totalled 1,318 which included 1,060 freehold properties and 258 condominiums. Commercial sales for July, including industrial, farm, vacant land and business, totalled 51 units.
The average price of freehold residential properties sold in the month of July was $311,945, an increase of 3.3 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 $233,509, an increase of 6.4 per cent over July 2008.
The total number of units listed for sale during July was 1,764, which is 0.7 per cent fewer than were listed in the same period in 2008.

“With inventory low, and the number of new listings easing, buyers may have to be patient,” added King. “Market trends differ between cities, and among areas and housing types within a city. For local market expertise and information, buyers and sellers should use the professional services provided by a REALTOR®.”

Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.

courtesy of: REALTORS® Association of Hamilton-Burlington

Visit For More Information About Real Estate & Listings In Hamilton Ontario and Area.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist

Royal LePage State Realty, Brokerage.
Hamilton Ontario
905 574 4600
Toll Free: 1 877 574 4601

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