Hamilton-Burlington real estate sales jump in February

The Realtors Association of Hamilton-Burlington (RAHB) is reporting a monthly increase in home sales.

Last month, 735 homes were sold across Hamilton, Burlington and surrounding areas, a four per cent drop from February of last year, but a 24 per cent increase over January.

“Last year this time we saw the beginnings of a more balanced market,” said RAHB CEO George O’Neill. “The data for January and February is trending upwards and could lead into a healthy spring market for both buyers and sellers.”

The average sale price in Hamilton-Burlington in February was $557,135, an increase of 1.9 per cent compared to February 2018.

“The trend for the past few months has been that more affordable properties and communities have been seeing gains, but this month the statistics vary regardless of the type of property and location,” noted O’Neill.

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RAHB says single-family property sales fell by 2.9 per cent last month compared to February 2018, and the average sale price decreased by 0.7 per cent.

Townhouse sales were also down by 4.2 per cent year-over-year while apartment-style property sales fell by 6.2 per cent over February 2018.