February 4, 2019 5:15 pm
Updated: February 4, 2019 8:05 pm

Hamilton-Burlington real estate stats for January ‘promising,,’ says realtors association CEO

The CEO of the Realtors Association of Hamilton-Burlington is calling January's real estate numbers "a promising start."

AP Photo/David Zalubowski)
A A

The latest real estate numbers in Hamilton and Burlington are being called “promising.”

The Realtors Association of Hamilton-Burlington (RAHB) reported 593 home sales last month, a 3.6 per cent drop from January 2018.

However, the average sale price jumped by 4.7 per cent to $550,058.

READ MORE: Vancouver home sales fall nearly 40 per cent in January, as prices pull back

“This is a promising start to 2019,” says RAHB CEO George O’Neill. “For sellers, the average price of a home has increased over 100 per cent since 2009. For buyers, sales activity has slowed, the number of new listings has increased, and we are sitting firmly in a balanced market.”

Focus Ontario: Ontario Real Estate in 2019

The association reported 11,584 sales of all properties in 2018, down 13.7 per cent compared to 2017.

“The January numbers have picked up since the downturn we experienced in December,” adds O’Neill. “The trend is still the same — lower priced properties, such as townhouses and apartments, seem to be the preference for consumers and are in high demand.”

Global News
Help us improve Globalnews.ca

© 2019 Global News, a division of Corus Entertainment Inc.

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.