Cool Start to the Year

The REALTORS® Association of Hamilton-Burlington [RAHB] reported 716 property sales in the month of January 2015. Comparing these numbers to last year in the same month, there is an 8.3% decrease in sales.

There were 1459 properties listed in January, a decrease of 2.8% compared to the same month the year prior. End-of-month listing inventory was 10% lower than last January, hence the decrease in sales.

Although there was a modest drop in sales; the average price of freehold properties showed an increase of 8.5% compared to the same month the previous year and the average days on the market decreased from 55 to 46 days in the freehold market. The average sale price in the condominium market increased by 1.7%.

Seasonally adjusted data for residential properties for the month of January, 2015:

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The numbers for the month of January, 2015 compared to January, 2014:

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