The REALTORS® Association of Hamilton-Burlington (RAHB) has just reported that 796 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in December for the Hamilton/Burlington and surrounding area. This represents a 7.6 per cent increase in sales compared to December of the previous year.
RAHB President Donna Bacher remarked that this is the strongest December we’ve seen in five years. “We saw a very strong real estate market in December. Listings and sales were both above average for the month; we haven’t seen a December market like this since 2009.”
Sales of residential properties were 4.4 per cent higher than the same month of the previous year, with the average sale price up 4.5 per cent for the month. Seasonally adjusted numbers of new listings were 11.3 per cent higher than the same month the year prior.
Actual overall residential sales were 8.2 per cent higher than the previous year at the same time. Residential freehold sales were 9.8 per cent higher while sales in the condominium market saw an increase of 2.1 per cent.
The average price of freehold properties showed an increase of 5.4 per cent compared to the same month the previous year; the average sale price in the condominium market decreased by 2.2 per cent when compared to the same period.
“With more properties selling than were listed in December, we may be in for an interesting January,” added Bacher. “Statistically speaking, we’ve now sold some of the listing inventory, leaving us with considerably fewer listings going into the new year. The low inventory and December’s strong sales mean we remain in a seller’s market.”
Analyzing average sale price information 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.
Whether we find ourselves beginning 2015 in a Buyers or Sellers market, at the Rocca Sisters & Associates, we believe in providing each and every one of our clients with an experience that is not just the best, but remarkable. When you entrust The Rocca Sisters Team with buying or selling your home, you can expect a personalized, hands-on approach that will make your real estate experience as comfortable and profitable as possible. Our specialized team of Buying and Listings agents are the best and the brightest in the business with decades of experience between them working in many facets of the real estate business. We know the local market, have access to the freshest sales data, and can price your house in line with the market to maximize your earnings.
As the #1 Sales Team in Burlington* for 5 consecutive years and the #3 Team in Canada** out of 16,000 agents nationwide for Royal LePage in for sales production and volume, you can look to our full service, highly responsive, executive team of professionals for all of your real estate needs.
To be set up on a personalized home search or for a free no obligation home market evaluation, please call us at our office directly at 905-335-4102. It would be our pleasure to assist you.
*2010-2014 **Royal Lepage Canada 2014