Hamilton-Burlington real estate market update November 2018
The REALTORS® Association of Hamilton-Burlington (RAHB) released the latest statistics on the Hamilton-Burlington real estate market for November 2018.
862 residential properties were sold within the REALTORS® Association of Hamilton-Burlington (RAHB) market area in November.
The number of homes, townhomes and condos sold decreased by 17.1 percent compared to last year.
The ratio of sales-to-new-listings is currently in favour of sellers at 71.2 percent. This number represents the real estate market in Hamilton.
Sales of single-family homes and townhomes for the entire area dropped compared to last year but sale prices increased by just over 5 percent.n, Burlington, Haldimand, and Niagara but statistics vary by region.
Prices of condos rose 3.1 percent compared to last year but the average sale price decreased by 1.6 percent.
All major areas saw an increase in overall average sale price for all property styles with the exception of apartment-style properties in Hamilton and Niagara North.
Late fall and winter months are typically slower, so it is expected to see a decrease in the number of new listings. It will be interesting to see what the new year holds for the Hamilton-Burlington real estate market. Send me a message to find homes for sale in the Hamilton-Burlington area or if you’d like a real estate market evaluation for your home.