fbpx
Real Estate

March 2018 Hamilton Real Estate Stats

The REALTORS® Association of Hamilton-Burlington (RAHB) reports that 592 sales were processed through MLS® for March 2018 in the Hamilton region — that translates to 37.2% less sales than March of last year. That’s a significant drop for a 12-month period.

The average price of all residential listings in Hamilton went from $515,964 a year ago to $477,130, which is a 7.5% drop in just a year’s time.

In real estate, however, the median sale price is generally a better metric as it eliminates outliers (ie. when a couple of 8-figure homes really warp an average).

When we look at the median, the drop in residential sale price goes from $481,500 in March of 2017 to $451,100 in March of 2018. That translates to a drop of 6.3%, which isn’t as ominous.

It’s interesting to note that the brunt of the drop was almost entirely in the freehold residential market (ie. mainly single-family detached homes).

The average sale price for condos in Hamilton is the same it was a year ago (almost to the dollar in fact). When looking at the median sale price, condominiums actually went up 4.1% from March 2017.

Here’s the breakdown of residential market activity by region.

What are your thoughts on this month’s real estate update? Let us know in the comments!

Comments 0

There are no comments

Add comment

Share post

Links
Social

© 2024 Robert Cekan Professional Real Estate Corporation. All rights reserved.