Before You Start Your Home Search

June 23, 2017

House

 

Doing some research & planning before you even start your home search is definitely beneficial.  Some things to consider:

Research the neighbourhoods you are interested in.  You can search online for things like schools, amenities, distance from work, traffic & zoning.

Consider what is important to you such as size, numbers of bedrooms & bathrooms, etc.

Calculate how much of a down payment you can make as well as how large of a mortgage payment you can make monthly.  You also need to take into consideration any other monthly costs such as taxes, property insurance, repairs & maintenance.

Some other costs you should be aware of include: home inspection fee, legal fees, property insurance, property survey, prepaid property tax & utility adjustments, movers.

Work out a budget before moving.

Getting pre-approved is a great step to take before house hunting. 


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Fun things to do this weekend!

June 16, 2017

Weekend

 

If you're looking for something to do this weekend check out one or more of these events!

Friday June 16th

Canada Festival
June 16 & 17 in Gore Park
Free all ages, all Canadian activities & entertainment. 
For more information http://downtownhamilton.org/canada-coast-to-coast-june-15-to-17/

The Hamilton Horticultural Society is having a general meeting & major flower show
7:30-9:30 pm at the Chedoke Presbyterian Church
For more information email tagmichael@gmail.com or call 905-484-1754

Saturday June 17th

Ride For Dad
This annual motorcycle event is dedicated to fighting prostate cancer. 
It begins at Vallery Park Community Centre at 9:00 am
More information at www.ridefordad.ca

An evening event at Dundurn Castle
7pm to 11pm, free admission
This date is the 50th anniversary of the castle being  a historic house museum.  The outdoor light & sound show in Dundurn Park.
For more information email dundurn@hamilton.ca


Sunday June 18th

Wild Waterworks is having contests & giveaways for father’s day.
With 2 children day admissions dad gets in for free!
For more information email: wildww@conservationhamilton.ca

HMCS Haida – on Canada’s most decorated warship.  Refreshments on the jetty, a scavenger hunt, a family photo challenge & more.  At 11am and 2pm there will be behind the scenes tour.
http://www.hmcshaida.com/

Stoney Creek Car Show @ 39 King Street East
from 10am to 4pm, admission is free
More information: https://www.stoneycreekcarshow.ca/


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Record Listing Numbers in May 2017

June 09, 2017

Remu

 

The REALTORS® Association of Hamilton-Burlington (RAHB) reported a record 3,208 new listings were processed through the RAHB Multiple Listing Service® (MLS®) System in May, which is 41.1 per cent higher than the same month last year and 34.8 per cent higher than the 10-year average.

Sales were less than one per cent lower than the same month last year, and still 15.3 per cent higher than the 10-year average.

“Listings continue to be the story,” said RAHB CEO George O’Neill. “The difference is that two months ago we reported on the sustained low inventory of listings and this month we are talking about a record for new listings. The increase in listings suggests that homeowners have been watching the market, seen home values increase significantly over the last year or two, and decided to take advantage of those increases.”

Seasonally adjusted* sales of residential properties were 3.5 per cent lower than the same month last year, with the average sale price up 24.8 per cent for the month. Seasonally adjusted numbers of new listings were 37.9 per cent higher than May of 2016.

Rahb-seasonally-market-stats-may-2017-768x176

 

Overall residential sales of 1,745 units were 1.4 per cent lower than the same month last year. Residential freehold sales were exactly the same as May of 2016 while sales in the condominium market were 7.8 per cent lower than the same month last year.

“Sales remained steady through the month of May,” noted O’Neill. “With the increase in listings and steady sales, we appear to be moving toward more balance, which tends to be a healthier market overall.”

The median price of freehold properties increased by 20.2 per cent over the same month last year while the median price for condominium properties increased by 22.3 per cent compared to the same period.

The average price of freehold properties showed an increase of 24.3 per cent compared to May of last year; the average sale price in the condominium market increased by 19.2 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price 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. Contact a REALTOR® for information about your area or property.

The average number of days on market decreased from 22 to 16 days in the freehold market and from 25 to 16 days in the condominium market, compared to May of last year. Compared to last month, average days on market rose from 14 days for freehold properties and from 15 days in the condominium market.

“The question I am asked most frequently is whether this change in the market relates to the Fair Housing Plan recently announced by the Ontario government,” added O’Neill. “Our members reported seeing a shift in the market even before the announcement. It’s possible that sellers read and heard that changes were coming and decided to act sooner rather than later. Sales remain strong, suggesting the Non-Resident Speculation Tax announced in April doesn’t seem to have had an influence in our area.”

Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

Comparison-may-2017-768x929

 

 

Rahb-market-activity-may-2017-768x684Residential-market-activity-hamilton-may-2017-768x874


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April 2017 Showers Did Not Keep Buyers Away

May 08, 2017

Remu

 

 

 

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1770 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in April. Sales were 7.5 per cent higher than the same month last year and set a new high for April – the seventh month in a row for new monthly records.

There were 2,419 properties listed in April, an increase of 17.6 per cent compared to April of last year and 6.2 per cent higher than the 10-year average for new listings in the month.

“April was another blockbuster for sales,” said RAHB CEO George O’Neill. “Traditionally, these are the kinds of numbers we expect to see in May or June, not April. But given the explosion in the market over the last three years, it’s hard to say what should be considered ‘normal’ anymore.”

Seasonally adjusted* sales of residential properties were 19.3 per cent higher than the same month last year, with the average sale price up 21.8 per cent for the month. Seasonally adjusted numbers of new listings were 18.6 per cent higher than April of 2016.

Seasonally-768x176

Overall residential sales of 1,674 units were 7.2 per cent higher than the same month last year. Residential freehold sales were 7.4 per cent higher than April of 2016 while sales in the condominium market were six per cent higher than the same month last year.

The median price of freehold properties increased by 22.7 per cent over the same month last year while the median price for condominium properties increased by 22.3 per cent compared to the same period.

The average price of freehold properties showed an increase of 18 per cent compared to April of last year; the average sale price in the condominium market increased by 20 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price 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. Contact a REALTOR® for information about your area or property.

The average number of days on market decreased from 25 to 14 days in the freehold market and from 25 to 15 days in the condominium market, compared to April of last year.

“For the last two months, we’ve seen more properties come on the market,” noted O’Neill. “However, after so many months where sales outpaced new listings, we’ve had a real listings drought – it’s going to take awhile to catch up. This is really the first month in a long time when there was a higher increase in the number of new listings than in the number of sales.”

Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data. 

The numbers for the month of April, 2017 compared to April, 2016:

Marketactivity_apr2017-768x685

 

 

 

 

Residential_april2017b-768x875


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Looking for something to do over the long weekend?

April 12, 2017

Flowers

 

 

Here are a few things happening in the Hamilton area:

FRIDAY

Dundas Lions Club Easter Egg Hunt @ Dundas Driving Park
Friday April 14, 8:00 am
Bring food donations for the Salvation Army

Mountain Kidz Club Annual Hunt @ Mountain Drive Park (Concesssion St @ Upper Gage)
Friday April 14, 11:30 am – 3:00 pm
Cost: $2 (includes a goody bag)

 

SATURDAY

Easter Eggstravaganza in Downtown Dundas
Saturday April 15, 11:00 am – 3:00 pm
Free horse & trolly rides, petting zoo, free face painting & more!
For more details: http://www.downtowndundas.ca/easter-eggstravaganza.php

Optimist Park Trail Egg Hunt
Saturday April 15 at 10:30 am
Cost: Free

Makeology Spring Fair @ The Hamilton Museum of Steam & Technology
Saturday April 15, 11:00 am – 5:00 pm
Cost: $5, children under 12 are free
Vendors selling crafts, foods & other homemade products.
For more details: http://makeology.ca

Meditation – Saturday Day of Mindfulness @ Sirimangalo International Meditation Centre
Saturday April 15, 9:00 am – 4:00 pm
Cost: Free
Learn how to meditate, ask questions & meditate.
For more details: https://www.sirimangalo.org

Tropical Greenhouse – Gage Park
Daily from 8:00 am – 2:30 pm
Cost: Free
View a diverse selection of various bulbs, plants & vines.


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Record March Sales; Low Inventory Continues in 2017

April 12, 2017

Remu

 

 

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1803 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March. The month’s all-property sales set a new high for the month of March, surpassing the record set just last year by 22.2 per cent.

There were 2,197 properties listed in March, an increase of 17.5 per cent compared to March of last year and 6.5 per cent higher than the 10-year average for new listings in the month.

“This is the sixth month in a row – beginning October of last year – that we’ve seen a new monthly record for sales,” said RAHB CEO George O’Neill. “While there was a good increase in new listings, it doesn’t quite balance the number of sales, so the end-of-month listing inventory is 35 per cent lower than last year at this time – that’s less than a month of inventory.”

Seasonally adjusted* sales of residential properties were 16.6 per cent higher than the same month last year, with the average sale price up 29.5 per cent for the month. Seasonally adjusted numbers of new listings were 10.2 per cent higher than March of 2016.

Seasonally adjusted data for residential properties for the month of March, 2017:

Seasonally-1024x234

Overall residential sales of 1,702 units were 20.2 per cent higher than the same month last year. Residential freehold sales were 17.4 per cent higher than March of 2016 while sales in the condominium market were 32.8 per cent higher than the same month last year.

The median price of freehold properties increased by 28.5 per cent over the same month last year while the median price for condominium properties increased by 24.2 per cent compared to the same period.

The average price of freehold properties showed an increase of 28.7 per cent compared to March of last year; the average sale price in the condominium market increased by 28 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS®System. Average sale price 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. Contact a REALTOR® for information about your area or property.

The average number of days on market decreased from 28 to 20 days in the freehold market and from 27 to 19 days in the condominium market, compared to March of last year.

“Year to date, residential sales are up by 18.4 per cent and the average sale price by 22.9 percent over the same period last year and listing inventory is 35 per cent less than a year ago,” noted O’Neill.  “In this market, where homes are selling quickly and buyers are competing for so few listings, a buyer’s and seller’s best ally is a REALTOR® – a real estate professional who can offer the best advice for navigating the market.“

Every community in RAHB’s market area has its own localized market. Please refer to the accompanying charts, and contact a REALTOR® for more information.

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data. 

Comparison-859x1024

 

 

 

 

 

Rahb-market-activity-for-mar-1024x912Residential-market-ham-899x1024

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