Hamilton Real Estate
Market Report For March 2017
House & Condo Values, Statistics, MLS Properties For Sale
Hamilton Real Estate March 2017 Market Report:
March 2017 set another record for sales topping the previous one set just last year for all-property types by over 22%! 1803 sales were processed by The REALTORS® Association of Hamilton - Burlington (RAHB). There were 2197 properties listed in March which is an increase of 17.5% compared to March 2016, and 6.5% higher than the 10 year average.
Residential sales of 1702 were 20.2% higher than March 2016, with Residential Freehold 17.4% higher and Condominiums 32.8% higher than last year. The Average Freehold Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in March 2017 was $550,466, an increase of 28.7%, and the Condominium Average Price is $348,612, which is up 28% from last year in this month. The end of month inventory is still low, with only about only 1107 Freehold Residential Properties for sale compared to 1874 left at the end of March 2016, showing a decrease of 40.9%. Average days on the market decreased from 28 to 20 for freehold, and from 27 to 19 in the condo market compared to the same month last year.
Year To Date: Residential sales are up 28.4% and the average sale price is up 22.9%, with listing inventory down 35%.
In a Sellers Market it is imperative that you 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.
Previous Monthly Real Estate Solds Reports & Market Values
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