Condominium Average Sale Price Up
(Jun 3, 2011 – Hamilton, Ontario) The May residential real estate market in Burlington saw an 8.8 per cent increase in average sale price from the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
While average sale price rose, there was a decrease in the number of listings and sales for the month.
“The numbers may show decreases in listings and sales to last year,” said RAHB President Ann Forbes Arndt, “but when you look at the figures for the last ten years, both are still above average for the month. We had some strong months at the beginning of last year against which we are making comparisons, and we have to keep the bigger picture in mind.”
The numbers for May:
Residential Only 2010 2011 % change 10-year average
Listings | 456 | 451 | -1.1% | 425 |
Sales | 394 | 366 | -7.3% | 358 |
Average Sale Price | $387,901 | $422,110 | +8.8% | N/A |
Freehold Only
Sales | 266 | 251 | -5.6 | 240 |
Average Sale Price | $447,918 | $482,752 | +7.8% | N/A |
Condominium Only
Sales | 128 | 115 | -10.2 | 112 |
Average Sale Price | $263,177 | $289,753 | +10.1 | N/A |
The condominium market saw the larger drop in number of sales but also the larger increase in average sale price. “This is the same picture as we have overall for the Greater Hamilton-Burlington and outlying areas,” added Arndt. “It is the condominium market that has seen the greatest decrease in sales but yet the highest increase in average sale price.”
Information provided by RAHB. More information about RAHB - Realtors Assocition of Hamilton-Burlington, is available at http://www.rahb.ca/
No comments:
Post a Comment