Hamilton housing market continues to show signs of being more balanced.
The Realtors Association of Hamilton-Burlington has released its latest monthly stats and is reporting an 18.4 per cent decline in the number of property sales in August compared to the same month last year.
But the drop in sales has not had an effect on sale prices. The average sale price rose 10.6 per cent last month to $559,633. That is up from $506,036 in August of 2016.
RAHB CEO George O’Neill says Hamilton’s real estate market is trending towards a more “balanced market.”
There were 1,748 new listings recorded in August, a 5.4 per cent jump compared to the same month last year.
It was more of the same down the QEW, where the GTA housing market continued to cool with a 34.8 per cent plunge in sales.
But unlike in Hamilton, home prices in the GTA tumbled for the fourth straight month. The Toronto Real Estate Board says the average price for all home types was up three per cent from a year ago to just over $732,000.
But that was down from roughy $746,000 in July, and off 20.5 per cent from the record high in April.
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