Thursday, October 7, 2010

Good market strength in first half of 2010

(July 7, 2010 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1359 units sold in June, indicating a decrease of 15 per cent from the same month last year, and a decrease of 6 per cent from May of this year. The total unit sales for the first six months of 2010 are being reported at 18.7 per cent higher than the same period last year, while new units listed are 20.7 per cent higher than last year at this time, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“June’s sales are down from last year’s record-breaking month,” said Joe Ferrante, RAHB President, “but the strong numbers in the early months of the year still brings our year-to-date sales ahead of last year at this time.”

Residential properties sold during June totalled 1,305 which included 1,036 freehold properties and 269 condominiums. Commercial sales for June, including industrial, farm, vacant land and business, totalled 54 units.

The average price of freehold residential properties sold in the month of June was $331,056, an increase of 5 per cent over June 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 June was $249,227, an increase of 13.5 per cent over June 2009.

The total number of units listed for sale during June was 2072, which is 22 per cent more than were listed in the same period in 2009.

“With a good inventory of properties available,” added Ferrante. “Hamilton, Burlington and our outlying areas remain a great place to buy real estate.”

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

courtesy of: REALTORS® Association of Hamilton-Burlington

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