Friday, January 19, 2018     Realtor's Association of Hamilton Burlington   

The REALTORS® Association of Hamilton-Burlington reported 15,565 all-property sales through the Association’s Multiple Listing Service® (MLS®) System in 2017, 5.9 per cent fewer sales than in the record-breaking 2016. Even while sales were down from the previous year, the total dollar volume of sales reached a new high of $8,972 billion, which resulted in a 14.4 per cent increase in all-property average sale price for the year. “The real estate market in 2017 was notable for the abrupt change through the spring,” noted RAHB CEO George O’Neill. “The market went from a strong, prolonged seller’s market, where the average time to sell a property was 14 days, to a more balanced market where buyers had more time to view and compare properties before putting in an offer to purchase. ” In the residential market, listings were up 16.4 per cent compared to the previous year and sales were down six percent. “Each of the first four months of year had record sales for those months,” added O’Neill. “At the time, there were few listings on the market, with less than a month of inventory. In April, however, we saw the first glimpse of a turnaround, when we had more listings than average come onto the market. That did not translate into immediate relief for the market, as we still had record sales for the month. It was after that point we began to see higher-than-average new listings and lower-than-average sales.”

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David and Ann Ryan, Sales Representatives
Office: 905-632-2199 | Direct: 905-407-4353 |

RE/MAX Escarpment Realty Inc., Brokerage | 4121 Fairview St, Burlington, Ontario L7L 2A4, Canada

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