Hamilton Real Estate Market SOLD Report for Sept 2017
Hamilton Real Estate September 2017 Market Report
September 2017 reported 2296 New Listings, up 17.2% and highest ever seen for the month of September, from the same month in 2016, and 16.7% higher than the 10-year average. Residential Sales were down by 23.8% to 956 Units from September last year and Condominium Sales were 22.1% lower.
The Average Residential Freehold Properties Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in September 2017 was $591,164 compared to $550,860 the same month last year, an increase of 7.3%, and the Condominium Average Price is $395,175 compared to $368,059, which is up 7.4% from last year in this month.
Trending now...Listings UP, Sales DOWN, Average Prices NOT dipping in and around Hamilton Ontario!
The data provided by the Hamilton-Burlington Real Estate Board shows that the trend of increased listings and few sales have continued. The Sales to new listings ratio is down to 44%, which is a drastic shift from the 80% and over it was earlier in 2017 and the 70% plus experienced last September. The end of month listing inventory shows 2505 Freehold Residential Properties left for sale, up 64.6% compared to 1522 left at the end of the month in 2016. Also, Average days on the market increased from 23 to 32 for freehold this month!
The map below shows the current Year to Date Average Prices. Some of the areas not included in the map below are Burlington which is up very slightly from $770,657 to $770,744, Flamborough also a slight increase from $789,761 to $792,775, Waterdown decreased from $689,701 to $685,458, Grimsby showed a decrease from $598,892 last month to $590,538, Caledonia dropped from $432,211 to $431,510, Smithville dropped from $476,229 to $474,869this month, and Cayuga dipped from an average selling price year to date last month of $411,876 to $408,339 this month.
When looking at the Average Prices in and around Hamilton, it is important to note how they have changed significantly over the last year and even now from month to month. If you are thinking of selling your house or condominium, get the most up to date, LOCAL information. A Market Evaluation done even a few months ago needs to be updated!
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!
In this Market, it is important that you know about the houses getting listed Immediately! Click Here to get set up on the Instant Notification Search, otherwise, 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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