The local real estate market continues to find its balance.
The Realtors Association has released its snapshot for November showing that year-to-year sales dropped 12 per cent in Hamilton from 730 to 637.
At the same time, there was a corresponding 12 per cent increase in the number of listings from 907 to 1,018.
Realtor’s Association of Hamilton-Burlington CEO George O’Neill says the jump in listings is a “welcome relief” from the low inventory earlier this year.
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He adds that sales, despite the drop, remain higher than the 10-year average for November.
The average number of days on the market for a listed home increased from 25 to 37 and the average sale price rose by another five per cent to $475,000.
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