Actual residential sales overall were down by 0.8% in October 2012 compared to last year but the average sale price saw an 8.3% increase and the average days on market was lower than last year.
“The steady increase in residential prices over last year continues,” said Nolan. “We are also seeing less of a difference between numbers of new listings this year compared to last. Those listings are still being sold faster than last year, with the average number of days on market at 45 days.”
All property types overall saw an increase in sales (by 0.4%) and average price (by 12.7%) compared to last years period, indicating that October residential market still favours sellers.
“The October market has confirmed that we are in a seller’s market, as we have been most of the year.” said RAHB President Cameron Nolan. The REALTORS® Association of Hamilton-Burlington (RAHB) reported the residential market saw an 11.9 per cent increase in average sale price in October compared to the same month last year.
For the complete report visit: http://www.rahb.ca/press/2012/121105pressreleaseOct.pdf
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