According to the RAHB, home sales are increasing steadily by the month. In Hamilton and Burlington, 735 homes were sold last month alone. When comparing this to January, a nearly 24 percent increase is present. When compared to February or last year, a 4 percent drop is also present. According to George O’neill, CEO of RAHB, last year saw a significantly more settled real estate market. However, when considering the stats from January and February, this summer could result in a very healthy real estate market for both buyers and sellers alike!
Home prices on average increased nearly 2 percent, when compared to February of 2018. Usually these increases would be relevant towards new and more modern homes, but the increase is present everywhere, regardless of property status.
According to the RAHB, single family home sales dropped by 2.9 percent last month, and the average sale price depreciated by nearly 0.9 percent. Also, townhouse sales dropped nearly 4 percent, while apartment style properties also dropped by nearly 6.2 percent.