New Record Set for Number of Listings
(April 6, 2010 – Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 1436 units sold in March, an increase of 38.2 per cent over March of last year, according to the Multiple Listing Services® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).
When compared to February of this year, total unit sales were 29.4 per cent higher in March, 2010.
“March was just an amazing month for numbers of listings and sales,” said RAHB President Joe Ferrante. “We set a new record for the number of listings taken in a month, ever.”
Residential properties sold during March totalled 1365 which included 1102 freehold properties and 263 condominiums. Commercial sales for March, including industrial, farm, vacant land and business, totalled 71 units.
The average price of freehold residential properties sold in the month of March was $335,633, an increase of 20.7 per cent over the same month last year and an increase of just over one per cent over last month.
In the condominium market, the average price of condominiums in March was $220,092, an increase of six per cent over March, 2009 but a decrease of just under nine per cent from last month. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
March’s total average residential sales price increased 19.2 per cent over the same month in 2009.
The total number of units listed for sale during March was 2270, which is 28.5 per cent higher than were listed in the same month in 2009.
Total unit sales for the first three months of 2010 are reported at 45.7% higher than the same period in 2009. New units listed are 21.5 per cent higher when compared to the first quarter of last year.
“We expect continued strength in the spring market,” added Ferrante, “although the recent slight rise in some mortgage rates may have an impact on sales.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sales of businesses.
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,400 real estate brokers and sales representatives from Hamilton, Burlington, and surrounding areas. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. In addition, RAHB is an active participant in the Home Ownership Affordability Partnership (HOAP) and holds an annual auction in support of local charities. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about RAHB is available at www.rahb.ca.
courtesy of;
REALTORS® Association
of Hamilton-Burlington