Agent Blogs

Simply put, inventory is low! However, there are A LOT of buyers out there who have been pre-qualified and are searching now for the right home. Could that home be yours??

This is a grrreat time for home sellers who may be "sitting on the fence" when it comes to listing their property. When supply is low but the demand is high this means the market is somewhat swinging back in the favour of sellers and driving home prices back in the upward motion...(something we have not been seeing over the last several months!)

If you're thinking of putting your home on the market consider doing it now before we see the spring market flooded with homes (just a guess, but I think it will be!)

So, how is our market doing anyway? Below is an excerpt from our latest statistical reports.

Last month marks best September on record

(October 5, 2009 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1,216 units sold in September, indicating an increase of 20 per cent over the same month last year. The total unit sales for the first three quarters of 2009 are being reported at 2.6 per cent lower for the same period last year, while new units listed are 8.8 per cent lower for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“The third quarter of 2009 saw the most number of sales during that period since 2005,” said Bruce King, RAHB President. “The September numbers continued the positive trend set in July, with sales and average price up, year over year. It also marked the most properties sold in the month of September, ever.”

Residential properties sold during September totalled 1,162 which included 916 freehold properties and 246 condominiums. Commercial sales for September, including industrial, farm, vacant land and business, totalled 54 units.

The average price of freehold residential properties sold in the month of September was $324,868, an increase of six per cent over September last year. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.

In the condominium market the average price of condominiums in September was $229,462, an increase of 7.8 per cent over September 2008.

The total number of units listed for sale during September was 1,761, which is 3.9 per cent fewer than were listed in the same period in 2008, but 18 per cent more than were listed in August.

“As interest rates stay low and the economy begins to recover, I expect we will see continued stability in local property ownership, both as a life style choice and as a solid investment,” added King. “The Hamilton-Burlington area real estate market is one of the healthiest in the country, and was last week rated the second-best place in Ontario to buy a house or invest in commercial property by the Real Estate Investment Network.”

Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.

Call now to find out more information on what's been happening in your neighbourhood!