The REALTORS® Association of Hamilton-Burlington (RAHB) reports that 606 residential sales were processed through MLS® for August 2018 in the Hamilton region — an increase of 6.7% when compared to August of last year.
The average price of all residential listings in Hamilton went from $490,714 a year ago to $501,073 — that’s an appreciation of 2.1% but represents a drop of 1.7% from last month. Condos are growing rapidly when isolated for their closed sales volume and average sale price.
The median sale price, which minimizes the impact of outliers such as 8-figure mansions, is exactly the same as last year! This is the first time we’ve reported a 0% change from the year prior.
Across the Greater Hamilton Area, most regions seem to be on par with the sales prices of this time last year. The largest price deviations are seen in Burlington, Glanbrook, Dunnville, and perhaps most surprisingly Hamilton Centre each with ~$50,000 increases since August 2017.
It’s a positive sign that most of our city’s regions have prices that are either flat or increasing — a good indication of a balance between buyers and sellers.
If you’re interested in purchasing a property, check out our special partnership with select local REALTORS® to see how you can earn $1,000 cash back on your next home purchase! Learn more »
If you’re looking to sell your home, one of our partner REALTORS® will list your property for $4,500 flat. That’s less than 1% for the average Hamilton home! Learn more »