(July 6, 2015 – Hamilton, Ontario) For the third month in a row, the REALTORS® Association of Hamilton-Burlington (RAHB) reported record breaking sales in the Greater Hamilton, Burlington and outlying areas. June’s 2062 property sales processed through the RAHB Multiple Listing Service® (MLS®) system smashed the record of 1810 sales set just last month.
“The real estate market exploded in June,” said RAHB CEO Ross Godsoe. “To break the old record – set just last month – by that much and for the second month in a row, shows just how active it was. We saw more areas throughout Hamilton in particular where homes sold at or above list price as an average – not just in isolated cases.”
“Inventory is extremely low,” added Godsoe. “We are deep into a sellers’ market right now. The two main indicators are the sales-to-listing ratio, which is high at almost 85 per cent in the residential market, and months of inventory. Right now we have less than two months inventory. That is extremely low when you consider that a balanced market has five to eight months of inventory.”
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