House & Condo Values, Statistics & MLS Properties For Sale
Hamilton Real Estate February 2017 Market Report:
February 2017 sales of 1311 properties processed by The REALTORS® Association of Hamilton - Burlington (RAHB), set a new high for that month.
All property sales came in 16.4% higher than the same month last year. New listings were 1496 which is a decrease of 2.7% from February 2016 and 8.4% lower than the 10 year average for new listings in the month.
Residential sales of 1257 were 16.7% higher than February 2016, with Residential Freehold 15.3% higher and Condominiums .23.2% higher than last year. The Average Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in February 2017 was $556,818 compared to $456,697 the same month last year, an increase of 21.9%, and the Condominium Average Price is $382,046 compared to $3111,078, which is up 22.8% from last year in this month. The end of month inventory is still extremely low, with only about only 766 Freehold Residential Properties for sale compared to 1472 left at the end of February 2016. Average days on the market decreased from 31 to 22 for freehold, and from 34 to 21 in the condo market compared to the same month last year.
Hamilton Ontario is deep into a Sellers Market which makes it even more important to know about the houses getting listed As Soon As They Hit The Market! Unless you are connected to a Real Estate Agent that has you set up on an Instant Notification Search, you will only know about listings once they are reported to the public sites. If you wait till you see it on Realtor.ca or other sites, it's too late, and is probably already SOLD!
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Here is a map showing the Current Average Year To Date
Prices in and around Hamilton Ontario...
Always remember that "Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price 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." What that means is not every house or condo has increased in price by the same percentage. It is really important to talk to an experienced local REALTOR® to see EXACTLY what is happening in your particular neighbourhood. It is also important to find out what you can do to your house to get the highest amount possible when you are ready to sell!
Want to know what houses are selling for around you?
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Note: Numbers of sales represents sales reported on properties listed on the Multiple Listing Service (MLS) of the REALTORS Association of Hamilton-Burlington. Average sale price is calculated by dividing the total dollar volume of sales (not shown) by the number of sales in that month.
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