Hamilton-Burlington Real Estate Market Statistics August 2018
The REALTORS® Association of Hamilton-Burlington (RAHB) released the Hamilton-Burlington real estate market statistics for August 2018. A reported 1089 residential sales in the Hamilton-Burlington area in August shows an increase of less than one percent compared to August 2017 and 2.9 percent lower than the 10-year average for the month. Condominium sales have risen 2.9 percent compared to last year and residential freehold sales remained the same. New residential listings dropped three percent compared to last year and 4.5 percent lower than the area’s 10-year average.
RAHB CEO George O’Neill says that August was the first month in 2018 that sales weren’t lower than the average by double-digits in the Hamilton-Burlington area.
The average residential sale price dropped 2.4 percent while the sale price of condominiums has risen compared to last year.
The market peak so far this year was in May and RAHB expects the fall market to pick up as usual.
The areas that saw the biggest increase in average sale price last month were Hamilton Centre, Burlington, Stoney Creek, and Dunnville. The average price slightly declined in Hamilton West and Flamborough.