Prices Up, Sales Down
Despite a 26 percent decrease in the number of residential sales within the REALTORS® Association of Hamilton-Burlington (RAHB) area in December 2018, the average price of homes in the area rose by 2.6 percent compared to the same month in 2017.
The number of sales for single family properties fell by almost 25 percent in December 2018 compared to December 2017, as the average sale price increased by 0.5 percent. Townhouse sales dropped by 36.6 percent as their sale price rose by 8 percent, and apartment-style property sales were essentially the same as in December 2017; however, the average sale price increased by 6.8 percent.
"December has again prove to be one of the slower months for sales as people were busy celebrating the holidays rather than contemplating a move," notes RAHB CEO George O'Neill. "But we anticipate market activity will pick up into 2019 as consumer confidence grows after being affected by the provincial and federal regulations introduced over the past two years.
Please call today for a no-obligation discussion about the latest pricing and real estate activity, and for assistance with your own buying and selling plans.