Hamilton Real Estate Market Report – November 2016
Hamilton Real Estate Market Report – November 2016 is showing that the market is continuing to move fast and still increasing in prices. In fact, November 2016 set the 5th Record so far this year for number of sales, with 1323 reported. That set a new high for the month of November and was 5.6% higher than the same month last year. There were 1500 properties listed for sale in November 2016, an 11.4 % increase over November 2015. Inventory is still extremely low in and around Hamilton Ontario. The properties that do come on the market are being bought up quickly with the pent up demand.
The Average Sales Price of Freehold Properties showed an increase of 20.2% compared to the same month last year. The Condominium Market also showed a significant increase of 23.5%.
Year to date figures (as shown in the Map Picture at the top of the page, 2016 Hamilton Statistics) show the Average Prices in each of the four main districts of Hamilton. West Hamilton (close to Highway 403) is one of the most popular areas for people commuting to Toronto to buy in due to the easy access to Highways, Train and Bus availability. There have been 699 sales year to date with an Average Price of $415,694. This is also home to McMaster University. Central Hamilton (including Downtown) has experienced the highest amount of sales at 1362, and the lowest Average Price, at $284,077. East Hamilton (close to QEW Niagara, Red Hill Parkway) had 985 reported sales at an Average Price of $306,443. Hamilton Mountain (the escarpment, affectionately named “the mountain” by residents) had 2159 sales and an Average Price of just under $400,000 at $398,846.
Days on the market: For November it took on average 25 days from the day the listing came on the market to the day it firmed up and was reported as Sold. For Condo’s, it took an average of 26 days. Conditions included in an Offer to Purchase a Condominium usually take much longer to fulfil than in an Offer To Purchase a Freehold Property. Make sure you include a Condition for your Lawyer to check out the Status Certificate from the Property Management in any Condo Offers.
November 2016 reported higher overall residential sales than the same month last year, an increase of 5.3% for a total of 1267 sales, as reported by The REALTORS® Association of Hamilton – Burlington (RAHB). Residential properties were sold through the RAHB Multiple Listing Service® (MLS) system. – See more about the Statistics for November 2016 at:
Homes In Hamilton Ontario-November 2016 Statistics
Looking outside of Hamilton?
If you are thinking about Buying or Selling any Real Estate in and around Hamilton Ontario, including the surrounding areas of Ancaster, Dundas, Glanbrook,
Flamborough or Stoney Creek, make sure to check out the Monthly and Year To Date Statistics to see what Average Prices are in the neighbourhoods you are interested in.
Go To… Homes In Hamilton Ontario – Monthly House Values Reports for 2016
To see current MLS Listings For Sale, Recent Sold Information, Walk Scores, Neighbourhood Descriptions, Schools, Relocation Guide, First Time Buyer Info, Seller Tips including a Free Book “How To Sell Your House For Top Dollar Fast“ and much more, Go To… HomesInHamiltonOntario.com
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