Market Moving Toward a Balanced Market

(April 4, 2013 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported the average sale price for all property types in March was 10.8 per cent higher than same month last year. 

 There were 1170 property sales processed through the RAHB Multiple Listing Service® (MLS®) in the month of March, representing a 14.3 per cent decrease in sales from the same month last year.   RAHB also reported a 9.7 per cent decrease in listings compared to the same month last year. 

 “It’s certainly a quieter spring than we’ve had for the last three years,” said RAHB CEO Ross Godsoe.  “We are seeing fewer listings and sales than average.”

 Seasonally adjusted* sales of residential properties were 8.4 per cent lower than the same month last year, with the average sale price up 2.9 per cent for the month.  Seasonally adjusted numbers of new listings were 4.2 per cent lower than the same month last year.

Seasonally adjusted data for residential properties for the month of March, 2013:

     Seasonally Adjusted  Percentage change compared to Residential Only                                                           Mar/13       Feb/13        Jan/13      Dec/12       Nov/12       Mar/12

New Listings

1555

6.8%

8.4%

5.4%

6.6%

-4.2%

Sales

1056

4.4%

2.0%

3.2%

2.1%

-8.4%

Average Sale Price

$377,130

1.6%

6.0%

5.7%

1.5%

2.9%

Actual overall residential sales were 14.7 per cent lower than the previous year at the same time.  Residential freehold sales were 13.7 per cent lower than last year; the condominium market saw a decline in sales of 18.5 per cent.  The average sale price of freehold properties showed an increase of 10 per cent over the same month last year, while the condominium market saw an increase of 7.5 per cent when compared to the same period last year.

The average sale price is based on the total dollar volume of all residential properties sold.  Average sale price information 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.

 The average days on market increased from 40 days to 44 days in the freehold market and decreased from 44 days to 43 for condominiums. 

“We seem to be moving toward a more balanced market,” noted Godsoe.  “That will give buyers a bit more breathing room when they are looking for a home.  From what the numbers say, however, buyers won’t be looking at paying less than they would have a year ago – only a few of our areas are showing average sale prices that have gone down. ”

 Residential sales were down 13.1 per cent for the first quarter of the year when compared to the same period last year, while listings were down 6.3 per cent; average sale price rose 6.9 per cent for the quarter.

 The numbers for the month of March 2013 compared to March 2012:

 All Property Types –                                       

          Actual    2012                          2013

% Change

Listings

2111

1907

-9.7%

Sales

1365

1170

-14.3%

Average Sale Price

$354,545

$392,859

10.8%

End of Month Listing Inventory

4111

3798

-7.6%

       
Residential Only – Actual      
Listings

1954

1765

-9.7%

Sales

1314

1121

-14.7%

Median Sale Price

$303,000

$319,000

5.3%

Average Sale Price

$352,781

$388,147

10.0%

Average Days On Market

41

44

 
End of Month Listing Inventory

3282

3103

-5.5%

       
Freehold Only – Actual      
Listings

1635

1441

-11.9%

Sales

1055

910

-13.7%

Median Sale Price

$327,500

$340,000

3.8%

Average Sale Price

$376,310

$414,079

10.0%

Average Days On Market

40

44

 
End of Month Listing Inventory

2763

2560

-7.3%

       
Condo Only – Actual      
Listings

319

324

1.6%

Sales

259

211

-18.5%

Median Sale Price

$250,000

$258,000

3.2%

Average Sale Price

$256,936

$276,309

7.5%

Average Days On Market

44

43

 
End of Month Listing Inventory

519

543

4.6%

       
Commercial Only – Actual      
Listings

157

142

-9.6%

Sales

51

49

-3.9%

 Every community in RAHB’s marketing area has their own localized residential market.  Please refer to the accompanying chart for residential market activities in select areas of RAHB’s jurisdiction.

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

Click here for the Residential Real Estate Market Activity chart for the City of Hamilton.
Click here for the Residential Real Estate Market Activity chart for Burlington.
Click here for the Monthly Market Activity chart.

New Listing!

If you are an INVESTOR looking to add another property to your landlord profile – look no further.  Tenants will stay on unit May 31, 2014 or vacant possession available.

Beautiful renovation in sought after West Hamilton that is just steps from Locke St. shops & boutiques.

PICT0040Circa 1895, this home has been stripped back to the brick and only the finest of materials with well above average workmanship and creativity being used to transform this 3 bedroom, 2 1/2 bath home into something special.  Everything is new from stucco exterior with R20 insulation value (R40 in attic), windows and roof to electrical, plumbing, furnace, A/C, hardwood flooring, granite, gorgeous cabinetry, top of the line GE Profile stainless steel appliances.  Extensive Travertine and mosaic tile work, the list goes on.

This home has been leased the past 2+ years by budding professional doctors that want the finer things in life but not the maintenance that comes with owning a property.

 For More info, click here

 

January 2013 Stats For Burlington

 Hot off the press ~ Here are some brief Stats for our area:

Burlington experienced a decrease of 12.71 % in the number of homes sold compared to January 2012, but at the same time, the average price rose by 4.53 %, from last January. 

                       Active at End            Sales                      Median                 Average

JAN/2013 442 158 $425,709 $454,906
JAN/2012 358 181  416,009  435,162

Sales were down but inventory rose markedly, could this be the turning point from a Seller’s Market to a Buyer’s Market?  Only time will tell….

If you are looking for additional Stats for Waterdown, Flamborough and the Hamilton Area, give me a shout…it would be my pleasure to go over all the details with you!

2013 ~ Is This The Year To Make A Move?

Now that the hustle and bustle of the Holiday Season is thankfully behind us, we can concentrate on a New Year, with potentially a New Beginning.  Is moving in your forecast this year?  Do you need to up-size or down-size?  Are you bursting at the seams with your expanding family?  Or conversely, are you rambling around in a big ‘ol comfy home using a fraction of the rooms?  Perhaps it is time to make a change, and change CAN be good! 

There is a natural cycle of up-sizing and down-sizing….the down-sizers are making it possible for the up-sizers to obtain their much loved homes and continue the cycle.  Some people have a hard time leaving their homes, but it isn’t really the home itself that is at the heart of the matter.  It is the memories attached to the home.  You will always have your memories, they are safely stored away to be recalled at anytime. 

So leave behind the mowing, weeding, shoveling and the ever-present ‘To-Do’ list that a large home comes with and focus instead on the next chapter in your life.  It should not be thought of as a sad time, but one of freedom.  Freedom to pursue new interests.  Do you want to travel?  Down-sizing makes this possible by eliminating the chores of maintaining a large home.  You walk out the door of your condo, turn the key and hit the road or skies and embrace your new found freedom.  You will not regret it and after a few months, will wonder why you didn’t do it sooner.

Of course, having a Realtor® available to help get you through this transitional period is your best resource…which I just happen to be available for.  Give me a call at 905-681-7900 and let me show you that change CAN be good!

New Listing – 38 Bingham Road, Hamilton

The start of a New Year seems to bring about the need for change not just in ourselves, but in our surroundings.  38 Bingham Road, Hamilton, ON (click link to view property details) is in need of new owners who will cherish it as the current owners have done for the past few years. 

A growing family has necessitated the need for a larger space, but if you are looking for a great starter home – then this is it!

To view this property, give me a call at (905) 681-7900 or email me at: info@deborahlsykes.com

 

2012 Burlington Market Stats

Numbers are one of the greatest story tellers.  They can convey so many ideas on so many topics.  Real Estate is no different.

From January 2011 to the end of December 2012, this is what Burlington’s Real Estate Market looked like (see chart below).  Notice the typical ups and downs in the amount of sales relative to the months, with Sales from March to June being the highest and December/January the lowest.

Also note the rather large jump in Average Sales Price from December 2012 to January 2011…..

If you have any further questions about the Burlington Real Estate Market, I would love to sit down and chat!  There are many more stories and facts to be told…all because of numbers!  Call me at (905) 681-7900 or email me at: info@deborahlsykes.com

(Stats Courtesy Sutton Group-About Town Realty Inc., Brokerage)

MONTH ACTIVE AT END SALES MEDIAN PRICE AVERAGE PRICE
DEC/2012 341 109 $431,526 $449,751
NOV 474 223  425,651  447,026
OCT 563 243  427,637  462,862
SEPT 569 204  403,973  439,886
AUG 490 242  424,531  464,335
JULY 536 293  403,649  446,189
JUNE 558 311  418,114  458,668
MAY 549 364  432,975  464,367
APR 520 354  437,674  460,228
MAR 493 344  403,539  436,624
FEB 442 259  415,486  467,702
JAN/2012 358 181  416,009  435,162
DEC/2011 287 134  398,284  412,461
NOV 415 236  383,368  421,008
OCT 529 244  370,887  403,414
SEPT 576 264  370,559  393,360
AUG 554 255  383,917  417,673
JULY 560 312  406,530  445,248
JUNE 630 349  378,576  420,894
MAY 619 366  387,378  422,110
APR 601 345  371,177  395,279
MAR 569 342  372,406  413,307
FEB 516 277  360,291  414,461
JAN/2011 462 167 $356,491 $392,221