November Stats – 2018

Posted

November Statistics, 2018

(As Reported The Realtors Association Of Hamilton Burlington)

 

December 5, 2018 (Hamilton, Ontario)The REALTORS® Association of Hamilton-Burlington (RAHB) reported 862 sales of residential propertieslocated within the RAHB market area were processed through the Multiple Listing Service® (MLS®) Systemin November, 2018. This is a 17.1 per cent decrease from the same month last year. Year to date, sales are17.4 per cent lower than last year at this same time.The sales-to-new-listings ratio, which can point to whether a market is in favour of sellers (above 60 percent) or buyers (below 40 per cent), was 71.2 per cent – the low end of a seller’s market. For comparison, inNovember 2017 the ratio was 69.9 per cent.“The numbers this month point to a seller’s market; however, this number represents our entire market areathat covers Hamilton, Burlington, Haldimand and Niagara North, and may not be indicative for eachindividual area.” says RAHB CEO George O’Neill. “Each area is different and distinct, that’s why it’s best to talkto a local REALTOR®, as they know the neighbourhood trends.”The number of sales for single family properties within the entire RAHB market fell by 17.5 per centcompared to the same month last year, while the average sale price increased by 5.2 per cent. Townhousesales activity was also down from 2017, while the average townhouse sale price rose by 5.6 per cent.Apartment-style property sales rose 3.1 per cent compared to November of last year; however, average saleprice decreased by 1.6 per cent compared to last November.All major areas within RAHB’s market saw an increase in overall average sale price. There was also anincrease in average sale price for all property styles in each of the four RAHB market areas, with theexception of apartment-style properties in Hamilton and Niagara North.“November and December are typically slower months in real estate, which is why there is a decrease in thenumber of new listings for this month,” says O’Neill. “With the decrease in new listings from the same timelast year, combined with increases in average sale price for detached homes and townhouses, it will beinteresting to see what the market will do for the remainder of year and leading into 2019.”