01 May Hamilton Burlington Real Estate – April 2019
HAMILTON BURLINGTON REAL ESTATE UPDATE – April 2019
THE april 2019 REAL ESTATE MARKET UPDATE FOR HAMILTON AND BURLINGTON is HERE!
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The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,226 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in April, 2019.
This is a 6.3 per cent increase from April last year, as well as an 18.8 per cent increase over March 2019 and a 66.8 per cent increase over February 2019.
The average price for residential properties increased by 3.9 per cent from April 2018 to $589,324.
“It’s encouraging to see the overall number of sales increase since last year when the market balanced out from 2016 and 2017,” says RAHB President Bob Van de Vrande. “Paired with a consistent increase in new listings month over month, Hamilton, Burlington and the outlying areas provide choice for buyers and a healthy market for sellers.”
Statistics by Property Type
The number of sales for single family properties within the RAHB market increased by 8.2 percent compared to April 2018. The average sale price increased by 2.3 per cent.
Townhouse sales activity across the entire RAHB market area decreased from April 2018 by 0.4 per cent. The average townhouse sale price rose by 6 per cent.
Apartment-style property sales increased by 17.9 per cent over April 2018. The average price increased by 10.6 per cent to $409,104.
“When we look at our entire market area, we can see that there are variances in the number of sales and listings, as well as average price, from community to community,” adds Van de Vrande.
“That’s why it’s so important for consumers and sellers to use a local REALTOR® who knows the trends within their community – especially heading into a healthy spring market.”
Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.
Source: The REALTORS® Association of Hamilton – Burlington (RAHB)