March Stats

April 06, 2018

Remu

 

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,099 sales were processed through the RAHB Multiple Listing Service® (MLS®) System inMarch, 38.6 per cent fewer than the same month last year and 18 per cent fewer than the 10-yearaverage for the month.

All property listings were 13.5 per cent lower than the same month last year and 8.1 per cent lower than the 10-year average.

Our area experienced similar cooling off as is being reported by other real estate markets in the Golden Horseshoe area,” said RAHB CEO George O’Neill. “Local sales were lower not only compared to March of last year, but also compared to the 10-year average for March.

Seasonally adjusted* sales of residential properties were 34 per cent lower than the same month last year, with the average sale price down 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 3.2 per centlower than March of 2017.

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Overall residential sales of 1,050 units were 37.8 per cent lower than March last yearResidential freehold sales were 38.4 per cent lower than the same month last year while sales in the condominium market were 35.5 per centlower.

The median price of freehold properties decreased by 8.2 per cent over the same month of the previous year while the median price for condominium properties increased by almost one per cent compared to the same period.

The average price of freehold properties declined by 15.5 per cent from March 2017; the average sale price in the condominium market decreased by 1.6 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 local REALTOR® for information about your specific neighbourhood or property.

This is the first time in awhile that we’ve seen the average sale price lower than the same month the previous year for both freehold and condominium properties,” added O’Neill. The condominium market is experiencing less of a drop – not even two per cent – and in fact, the median sale price is still almost one per cent above where it was last year.

The average number of days on market rose to 26 days from 17 days in the freehold market and increased to 29 daysfrom 19 days in the condominium market, compared to the same month last year.

 

For the general downward trend in the numbers comparing March 2018 to March of 2017, we have to keep sight of the bigger picture, noted O’Neill. The sales-to-new-listings ratio is still at 60 per cent for the residential market, which is generally considered the line between a balanced market and a seller’s market. In addition, theaverage days on market is at a comfortable level, providing buyers and sellers time to make informed decisions.

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Every community in RAHB’s area has its own localized characteristics that influence that market. Please ensure youcontact a local RAHB REALTOR® for professional advice.

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

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What to do in Hamilton on this long weekend...

March 29, 2018

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Friday March 30

Annual Good Friday Egg Hunt @ Mountain Drive Park
935 Concession Street
All ages, $2.00 donation
11:30 am to 2:00 pm
Rain or shine, all ages welcome

 

Saturday March 31

The Artisan Bazaar @ Royal Botanical Gardens
680 Plains Road West
Cost $5
10:00 am to 5:00 pm
All ages
Shop local handmade with over 60 artists from the area.

Meadowlands Community Park Charity Easter Egg Hunt @ Meadowlands Community Park
160 Meadowlands Blvd
All ages, free
10:30 am to 12:30 pm
A fun morning of Easter Egg hunting, balloon animals & more.

Early Morning Risers @ Hamilton Children’s Museum
1072 Main Street East
7:30 am to 9:00 am
Company, coffee & treats while the kids get to play in an interactive and exploratory environment.

 

Sunday April 1

Easter Brunch @ Crowne Plaza Hotel
150 King Street East
$29.95
11 am to 3 pm


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This Weekend in Hamilton

March 16, 2018

Weekend

 

 

Spring Time Bulb Show “Springtime in Paris” @ Gage Park Greenhouse
Running from March 9-18, from 9:00 am - 5:00 pm
Free

March 16

AGH Youth Council Special Effects Makeup Studio @ Art Gallery of Hamilton
123 King Street West
Free
Ages 15-24
4:00 - 7:00 pm
All materials are provided.
Learn to apply makeup & liquid latex to create prosthetic wounds, gashes, scrapes & more.

Poses & Prosecco @ Redchurch Café & Gallery
68 King Street East
7:00 - 9:00 pm
Cost: $25
Enjoy a fun flow yoga class in the gallery followed by prosecco, wine & socialization.
Please bring a yoga mat

March 17

Shop the Cotton Factory Saturday
270 Sherman Avenue North
11:00 am - 4:00 pm
Over 35 artists and makers with their crafts & art for sale.

Ladybird Dog Wash Fundraiser @ Pet Valu
1550 Upper James Street
10:00 am - 3:00 pm
$15 for a wash & nail trim
All proceeds will benefit the animals of Ladybird Animal Sanctuary

March 18

Historical Scavenger Hunt @ Fieldcote Memorial Park & Museum
64 Sulphur Springs Road, Ancaster
1:00 - 5:00 pm
All ages
Adults $3.50, Seniors/Youth $3, Children $2.50
A fun scavenger hunt of historical Ancaster locations.

Reflective Works @ The Carnegie Gallery
10 King Street West, Dundas
All ages, Free
1:00-4:00 pm
A variety of works from ceramic artists including functional ware, decorative pieces & sculptural items.d


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This Weekend in Hamilton

March 09, 2018

Weekend

 

A few things to do this weekend...

 

Friday March 9

James Street North Art Crawl
4:00-11:00 pm
All ages, Free
Many galleries & shops on James Street North from King to Murray stay open late

Aftercrawl with Born in the Eighties @ Club Absinthe
10:00pm
$10 cover, 19+
Monthly aftercrawl with the 80’s and 90’s cover band Born in the 80s

 

 

Saturday March 10

March Break: Unplugged on March 10 @ Hamilton Museum of Steam and Technology
900 Woodward Avenue
All ages, regular rates apply for museum tours

Maple Syrup Tour @ Simpler Thyme Organic Farm
1749 Hwy 6 N, Hamilton
11am – 1pm
$10 person or $25 for a family of 4
A fun day of maple syrup production!
to register: 905-659-1576

 

 

Sunday March 11

Mats & Mimosas @ Styled
25-422 Pearl Street, Burlington
12:15-12:30 registration, 12:30 yoga, 1:30 mimosas & mingle!
60 minute, all levels yoga class.


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February Stats

March 05, 2018

Remu

 

 

The REALTORS® Association of Hamilton-Burlington (RAHB)reported 779 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February, 40.3 per cent fewer than the same month last year and 25.7 per cent lower than the 10-year average for the month.

All property listings were 15 per cent lower than the same month last year and 21.4 per cent lower than the 10-year average.

“February’s real estate market experienced a significant slowdown, and that’s compared not just to last year, but to the last 10 to 15 years as well,” said RAHB CEO George O’Neill. “In fact, the number of new listings was the lowest in the last 15 years and the number of sales was the second-lowest in that same 15 year period.”

Seasonally adjusted* sales of residential properties were 38.9 per cent lower than the same month last year, with the average sale price down 0.2 per cent for the month. Seasonally adjusted numbers of new listings were 12.6 per cent lower than February of 2017.

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Overall residential sales of 752 units were 40 per cent lower than February last year. Residential freehold sales were 42.8 per cent lower than the same month last year while sales in the condominium market were 28 per cent lower.

The median price of freehold properties increased by 2.7 per cent over the same month of the previous year while the median price for condominium properties increased by 4.5 per cent compared to the same period.

The average price of freehold properties was 3.6 per cent lower than in February 2017; the average sale price in the condominium market increased by 2.7 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 specific neighbourhood or property.

“Prices in both the freehold and condominium markets have moderated from the year-over-year increases we saw through the last couple of years,” added O’Neill. “Condo prices showed gains in both average and median prices, but the freehold market saw a dip in average sale price and an increase in the median price.”

The average number of days on market increased to 37 days from 22 days in the freehold market and increased to 34 days from 21 days in the condominium market, compared to the same month last year.

““While the days on market has increased substantially from last February, you have to remember that last February was a remarkably active month with record sales for the month. In fact, February 2017 sales were 27.7 per cent higher than the 10-year average.” noted O’Neill. “This February, the average time it took to sell a listed property actually followed the normal pattern for the month – that is, it was lower than it was in January. With the sales-to-new-listings ratio still in the low end of seller’s market, I expect that, like most years, we are seeing the sprouting of the spring market that we usually see in February.”

Every community in RAHB’s market area has its own localized market. Refer to the accompanying chart, and please ensure you contact a local REALTOR® for professional advice.

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

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January Stats

February 12, 2018

Remu

 

 

The REALTORS® Association of Hamilton-Burlington (RAHB)reported 660 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in January, 27.2 per cent fewer than the same month last year and 12.5 per cent lower than the 10-year average for the month.

All property listings were 6.3 per cent higher than the same month last year and 22.3 per cent lower than the 10-year average.

“We definitely saw a real estate market hit by the winter chill,” said RAHB CEO George O’Neill. “Both listings and sales were considerably lower than the 10-year average for the month of January. Even so, with more listings at the end of the month than last year, we have a more balanced market, with a sales-to-new listings ratio of 56.7 per cent and over three months of listing inventory for the residential market.”

Seasonally adjusted* sales of residential properties were 30.6 per cent lower than the same month last year, with the average sale price up 4.2 per cent for the month. Seasonally adjusted numbers of new listings were 6.7 per cent higher than January of 2017.

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Overall residential sales of 627 units were 27.1 per cent lower than January last year. Residential freehold sales were 28 per cent lower than the same month last year while sales in the condominium market were 23.7 per cent lower.

The median price of freehold properties increased by 7.8 per cent over the same month of the previous year while the median price for condominium properties increased by 5.8 per cent compared to the same period.

The average price of freehold properties was virtually the same as in January 2017; the average sale price in the condominium market increased by 6.9 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 most dramatic changes from last year to this are the number of days on market and the end of month listing inventory,” said O’Neill. “Last year we had few properties available so they were being snapped up quickly, while this year, with more listings on the market, buyers generally have more time to comparison shop.”

The average number of days on market increased to 46 days from 31 days in the freehold market and increased to 38 days from 28 days in the condominium market, compared to the same month last year.“While it is hard to know for sure, the new mortgage stress test that became effective January 1, 2018 may have affected sales for the month,” noted O’Neill. “After an initial drop in sales after the April announcement of the Ontario Fair Housing Plan, sales were higher than the 10-year average again for the last three months of last year. Now, after the second government policy has come into effect, sales have dropped off once more. Whether this is a lasting pattern is still to be seen.”

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

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