The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 926 units sold in the association’s jurisdiction* in the month of February, according to Multiple Listing Service® (MLS®) statistics released today. This represents an 8.7 per cent decrease in sales from the same month last year.
“While the numbers show that our sales and listings are down from last year, you have remember that February of 2010 was the beginning of the recovery from the uncertain market in the early part of 2009,” said Ann Forbes Arndt, RAHB President. “While February sales weren’t stellar, they are certainly within the range of normal based on February sales over the last ten years.”
The number of residential properties sold during February totalled 897, and included 702 freehold properties and 195 condominiums. Commercial sales for February, including industrial, farm, vacant land and business, totalled 29 units.
The average sale price of freehold residential properties in the association’s jurisdiction in the month of February was $333,936, an increase of 3.7 per cent over February, 2010. The average sale price reflects the dollar volume of freehold residential sales divided by the number of total freehold residential units sold.
In the condominium market, the average unit price was $232,289 a decrease of 3.4 per cent from the same month last year.
“Our average sale price continues to climb, year after year,” added Arndt. “Buying a property in the Greater Hamilton, Burlington and outlying areas is a good investment.”
Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®). Unit sales reflect “all property types” including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.
*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.