January 5, 2018 4:08 pm

House prices continue to climb in Hamilton real estate market

The Canadian Press/Graeme Roy
A A

A number of trends have continued within the latest real estate numbers in Hamilton.

The Realtors’ Association of Hamilton-Burlington says residential listings increased by another 4.5 per cent last month, while sales dipped seven per cent in December to 444.

READ MORE: How much is your home worth? You might be able to find out online

The average sale price also jumped another 10 per cent in Hamilton to $478,000.

Philip Golfi, with Remax Escarpment Realty, says it remains an active market with sales higher than the 10-year average.

“The unit sales are a lot less than what they were in terms of last year,” he said.

“That just might be in part because the housing market was so hot in terms of the first two quarters where everybody that was looking to move, moved.”

READ MORE: GTA real estate market cools down after sizzling first quarter of 2017

Golfi predicts that we’ll see a return to “multiple offer situations” later on this year.

 

© 2018 Global News, a division of Corus Entertainment Inc.

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.