Hamilton’s real estate market continues to thrive.
The Realtors Association of Hamilton-Burlington (RAHB) reported that 1,344 homes in the area were sold last month, up 10.9 per cent from May 2018.
It’s also a 9.6 per cent increase over the number of homes sold in April.
The average price of a home also increased by 0.9 per cent compared to a year ago, now sitting at $593,702. That’s about $4,000 more than last month’s average.
RAHB president Bob Van de Vrande said it’s great news for the area’s housing market.
“The number of sales increased double digits over last year and the number of new listings decreased by 5.2 per cent, indicating that we are in the thick of a busy spring market for sellers,” said Van de Vrande in a statement. “And prices only increasing an average of 0.9 per cent over last year means buyers haven’t watched prices soar while they find the perfect home.”
The number of sales for single-family properties in the area grew by 6.3 per cent compared to May 2018, and the average price increased by 0.5 per cent.
It seems as though more people are buying townhouses and apartments than a year ago as well — townhouse sales increased by 21.9 percent and apartment sales by 20 per cent.
The RAHB market is made up of four communities: Hamilton, Burlington, Haldimand and Niagara North.