Media Release
MEDIA RELEASE
(June 3, 2011 – Hamilton, Ontario) The May real estate market in the Greater Hamilton, Burlington and their outlying areas* experienced an increased number of listings for the month of May and a small decrease in the number of sales overall, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
The average sale price of all properties rose again in May when compared to last year. The largest gain in average sale price was in the residential condominium market.
"The condominium market in our area is where we saw the most growth in May," said RAHB President Ann Forbes Arndt. "The average sale price is up almost 11 per cent over May of last year and sales were higher than the 10-year average for the month."
Residential sales saw a slight decrease in the number of sales compared to May of last year, while the average sale price rose 3.8 per cent. Year to date residential unit sales were 8.4 per cent lower year than last year.
Residential Condominium Market sees highest gains in May