01 Apr Hamilton Burlington Real Estate – March 2019
HAMILTON BURLINGTON REAL ESTATE UPDATE – march 2019
THE MArch 2019 REAL ESTATE MARKET UPDATE FOR HAMILTON AND BURLINGTON ARE HERE!
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The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,032 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in March, 2019. This is a 1.2 per cent drop from March last year; however, a 40 per cent increase over February 2019 and a 74 per cent increase over January 2019. The average price was up from March 2018 by 4.9 per cent to $575,099.
“The increase in the number of sales from January and February shows that we are full steam ahead and anticipate a healthy spring market,” says RAHB CEO George O’Neill. “We experienced a two percent increase in the number of listings over last year, which means more overall choice for buyers.”
statistics by property type
The number of sales for single family properties within the RAHB market fell by 2.7 percent compared to March 2018. The average sale price increased by 5.6 per cent.
Townhouse sales activity across the entire RAHB market area increased from March 2018 by 8.6 per cent. The average townhouse sale price rose by 1.2 per cent.
Apartment-style property sales were exactly the same as in March 2018. The average price increased by 3.5 per cent to $376,391.
“Our market area includes Hamilton, Burlington, Haldimand and Niagara North, and within these areas are smaller communities that each have their own distinct characteristics,” add O’Neill. “The trend over the past several months has been that buyers are choosing more affordable properties and more affordable communities. We expect this to continue throughout the spring market.”
Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire 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)