October 2018 Real Estate Sold Statistics in Hamilton
Statistics, House and Condo Values, MLS Properties For Sale
Hamilton Real Estate Market Report For October 2018
October 2018 showed 1131 New Residential Listings came on the Hamilton Real Estate Market This is 6% LOWER than October 2017 as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Burlington is down 5% with 411 New Listings.
Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 1035 Properties were down by 13.1% from the same month last year. Residential Sales in Hamilton (which includes Hamilton + Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 659 of that total. The Average Hamilton Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in October 2018 was $499,382 up 7% from $467,432 the same month last year. Burlington which is also up 7% at $760,568. The end of month listing inventory shows 1817, giving Hamilton 2.8 months of inventory, which is up 28% compared to 1418 Properties still available for sale at the end of October last year which was 1.8 months of inventory. Burlington has 2.2 months of inventory (up 6%) with 575 active listings for sale. Average days on the market increased from 26.5 to 31 this year for Hamilton and decreased in Burlington from 30 to 28.2.
The Hamilton – Burlington Areas is currently experiencing a subtle shift to a Sellers Market, where the ratio of Homes Sold to Homes Listed is over 60%, currently sitting right on the cusp at 60.1% for Residential, (in other words, 6 homes are sold for every 10 new listings). Homes Sold to Homes Listed Ratio: Buyers Market is below 40%, Balanced Market is between 40-60%, and Sellers Market is above 60%.