Still a seller's market locally, realtors in Hamilton-Burlington say

courtesy of The Spec

It's still a seller's market locally, according to numbers released Wednesday by the Realtors Association of Hamilton-Burlington.

There were 1,288 sales in the region in July, up 3.9 per cent over July 2012. The average sale price grew 10.7 per cent over the period to $387,108.

"We are still experiencing a seller's market in our market area," said RAHB CEO Ross Godsoe. "We thought earlier in the year we might see a more balanced market by this point, but that hasn't been the case."

Listings were up 5.4 per cent year over year, to 1,852. End-of-month inventory is 3.3 per cent lower than last year.

On a seasonally adjusted basis, which removes the normal variations of seasons, sales were down 0.6 per cent compared to July last year, and 4.5 per cent and 4.6 per cent compared to June and May of this year.

The seasonally adjusted sale price grew 12.5 per cent over July last year.

According to the data, freehold sales were up 5.7 per cent while condos sales were flat.

Commercial listings were up 20.1 per cent over July 2012 but sales were off 8.9 per cent.

During the year so far, listings are down less than one per cent over last year and sales are down 2.4 per cent. Average sale price is up 8.1 per cent.

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