Saturday, October 14, 2017
Real Estate Market
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 2,296 new listings were processed through the RAHB Multiple Listing Service® (MLS®) System in September, which is 17.2 per cent higher than the same month last year and 16.7 per cent higher than the 10-year average. All property sales were 23.4 per cent lower than the same month last year, and 13 per cent lower than the 10-year average. “The trend to higher numbers of listings and fewer sales through the month has continued,” said RAHB CEO George O’Neill. “This month’s listings were actually the highest we’ve seen for the month of September. Our sales to new listings ratio is down to the 44 per cent range, which is a big change from the 80 per cent-plus it was earlier this year and the 70 per cent range from last September.” Seasonally adjusted* sales of residential properties were 18.9 per cent lower than the same month last year, with the average sale price up 8.5 per cent for the month. Seasonally adjusted numbers of new listings were 24.3 per cent higher than September of 2016.