Hamilton home sales decrease in June as listings surge continues

News Jul 07, 2017 Stoney Creek News

Hamilton home prices are levelling off as a surge in listings from May continued into June, according to figures released on July 5 by the Realtors Association of Hamilton-Burlington.

A spike in residential real estate listings in May continued into June, with 2,756 new listings processed through Multiple Listing Service last month. That figure is 23.8 per cent higher than the same month last year and 28 per cent higher than the 10-year average.

The average residential sale price last month was $537,367, a decrease of 11.2 per cent from May. Sales were 21 per cent lower than the same month of 2016, and were 5.6 per cent lower than the 10-year average.

“After months of seeing well-above-average sales, we now had a month where sales were a bit lower than the 10-year average,” said association CEO George O’Neill. “With higher-than-average new listings coming onto the market in June, we’ve seen a shift in the number of days on market as well as average sale price.”

Seasonally adjusted sales of residential properties were 20.8 per cent lower than the same month last year, with the average sale price up 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 23.2 per cent higher than June of 2016.

The average number of days a home stays on the market decreased from 22 to 18 days in the freehold market and from 27 to 17 days in the condominium market, compared to June 2016. Compared to last month, average days on market rose from 16 days to 18 days for both freehold and condominium properties.

Numbers released June 5 by the Realtors Association of Hamilton-Burlington showed a record 3,208 new listings were processed in May, a whopping 41.1 per cent increase over May 2016.


Hamilton home sales decrease in June as listings surge continues

News Jul 07, 2017 Stoney Creek News

Hamilton home prices are levelling off as a surge in listings from May continued into June, according to figures released on July 5 by the Realtors Association of Hamilton-Burlington.

A spike in residential real estate listings in May continued into June, with 2,756 new listings processed through Multiple Listing Service last month. That figure is 23.8 per cent higher than the same month last year and 28 per cent higher than the 10-year average.

The average residential sale price last month was $537,367, a decrease of 11.2 per cent from May. Sales were 21 per cent lower than the same month of 2016, and were 5.6 per cent lower than the 10-year average.

“After months of seeing well-above-average sales, we now had a month where sales were a bit lower than the 10-year average,” said association CEO George O’Neill. “With higher-than-average new listings coming onto the market in June, we’ve seen a shift in the number of days on market as well as average sale price.”

Seasonally adjusted sales of residential properties were 20.8 per cent lower than the same month last year, with the average sale price up 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 23.2 per cent higher than June of 2016.

The average number of days a home stays on the market decreased from 22 to 18 days in the freehold market and from 27 to 17 days in the condominium market, compared to June 2016. Compared to last month, average days on market rose from 16 days to 18 days for both freehold and condominium properties.

Numbers released June 5 by the Realtors Association of Hamilton-Burlington showed a record 3,208 new listings were processed in May, a whopping 41.1 per cent increase over May 2016.


Hamilton home sales decrease in June as listings surge continues

News Jul 07, 2017 Stoney Creek News

Hamilton home prices are levelling off as a surge in listings from May continued into June, according to figures released on July 5 by the Realtors Association of Hamilton-Burlington.

A spike in residential real estate listings in May continued into June, with 2,756 new listings processed through Multiple Listing Service last month. That figure is 23.8 per cent higher than the same month last year and 28 per cent higher than the 10-year average.

The average residential sale price last month was $537,367, a decrease of 11.2 per cent from May. Sales were 21 per cent lower than the same month of 2016, and were 5.6 per cent lower than the 10-year average.

“After months of seeing well-above-average sales, we now had a month where sales were a bit lower than the 10-year average,” said association CEO George O’Neill. “With higher-than-average new listings coming onto the market in June, we’ve seen a shift in the number of days on market as well as average sale price.”

Seasonally adjusted sales of residential properties were 20.8 per cent lower than the same month last year, with the average sale price up 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 23.2 per cent higher than June of 2016.

The average number of days a home stays on the market decreased from 22 to 18 days in the freehold market and from 27 to 17 days in the condominium market, compared to June 2016. Compared to last month, average days on market rose from 16 days to 18 days for both freehold and condominium properties.

Numbers released June 5 by the Realtors Association of Hamilton-Burlington showed a record 3,208 new listings were processed in May, a whopping 41.1 per cent increase over May 2016.