Dan Spicer\’s Blog

(January 12, 2012 – Hamilton, Ontario) The REALTORS® Association of Hamilton?Burlington (RAHB) held its annual press conference today and anticipates the 2012 real estate market will hold steady through 2012, with continued low interest rates and average sale prices that increase slightly above the inflation rate.
In his inaugural speech, consumer confidence is a major area of concern going forward as, according to a survey sponsored by the Economic Club of Canada, a majority of Canadians believe the country is in a recession despite the fact Canada hasn’t been in recession since 2009. The good news for the local economy –the new jobs brought to Hamilton by companies such as Maple Leaf and Canada Bread and that unemployment in the Hamilton area is about one per cent lower than the Canadian rate of 7.5% and lower than the provincial average. If we can continue to see stabilization in the employment rate, we expect to see confidence in the greater Hamilton?Burlington housing market.
First time buyer market is affected by youth employment, interest rates and government programs to assist with the purchase of a first home. With the land transfer tax rebate extended to all property types, mortgage rates at historic lows and prices at affordable levels, . . . market newcomers will have time to shop around and find the home that best suits their needs.
For 2012, Nolan predicted that listings will remain at or below 2011 levels as homeowners stay put until the economic outlook becomes more predictable. Sales will remain close to 2011 levels, with 12,000 sales in the residential market. Average sale prices will continue to rise at a gradual rate.
Area media were on hand to hear the report that 2011 ended with 11,987 properties located in the RAHB market* area being sold through the RAHB Multiple Listing Service® (MLS®). Sales were almost on par with the number of sales in 2010.
The average sale price rose 4.4 per cent from last year and continues a steady climb begun in the mid?1990s.
In the residential market only, listings were down just over four per cent from last year, but sales were almost even with 2010, with only 15 sales fewer than the previous year. The Sales to New Listing ratio is 73.7 per cent, which indicates that a seller’s market persisted through 2011.
The condominium market saw the biggest gains through the year, with a 4.6% increase in sales over last year. Average sale price rose 3.8 per cent in this market.
The year was characterized by a late start into the spring market, and then a stronger?than?average market through the latter half of the year. Condo sales were the highlight through much of the second half of 2011. Condominium sales were the only category which performed above the 10?year average; all other categories came in just below average for the year.
Every community in RAHB’s marketing area has their own localized residential market which can differ significantly from the overall picture. In 2011, Dunnville (areas 61), Waterdown, Glanbrook, Flamborough and Hamilton East all saw significant increases in numbers of sales over the previous year, while Caledonia, Ancaster and Dundas experienced noticeable decreases in sales.
Average sale prices in Burlington, Ancaster, Hamilton East, Hamilton Centre saw the greatest increase in average sale price while Dundas and Stoney Creek showed increases of less than one per cent over the previous year.

The real estate market in the Greater Hamilton, Burlington and outlying areas* saw an increase in the number of listings and a small decrease in the number of sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton?Burlington (RAHB).
After several months of strong sales, the residential condominium market experienced a drop in number of sales of just under five per cent when compared to December of last year. The same market also saw a 9.9 per cent increase in average sale price over the same month last year.
In the residential freehold market, sales dropped less than two per cent from last year at this time while the average sale price increased by two per cent.
While sales were down compared to last year, listings and sales were both higher than the 10?year average for the month.

(December 6, 2011 – Hamilton, Ontario) The November residential real estate market in Burlington saw an increase of 13.8 per cent in average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
For the residential market overall, numbers of listings were down 3.2 per cent from last year, and the number of sales was virtually the same as in November of last year. Despite the small drop in number of listings, listing and sales were still higher the ten-year average for the month of November.
The residential freehold market showed the greatest gains for the month, with a 1.9 per cent increase in number of sales and 15.4 per cent increase in average sale prices when compared to November of last year.
The condominium market saw a 2.6 per cent decrease in the number of sales compared to November of last year, but the average sale price rose 5.9 per cent.
The average sale price of all residential properties continues to rise in Burlington. Year to date, the average sale price has increased 7.3 per cent over the same period last year.
Also year to date, sales of freehold properties are up virtually even with the same eleven-month period last year. Condominium sales are down 1.6 per cent to last year, while sales of freehold units are very slightly ahead of last year at the same time.

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,500 real estate brokers and sales representatives from Hamilton, Burlington, and outlying areas. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. In addition, RAHB is an active participant in the Home Ownership Affordability Partnership (HOAP) and holds an annual auction in support of local charities.

(December 6, 2011 – Hamilton, Ontario) The real estate market in the Greater Hamilton, Burlington and outlying areas continued to show increases in listings, sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
The residential condominium market saw the largest gain with an 11.2 per cent increase in the number of sales when compared to November of last year. The same market also saw a 6.1 per cent increase in average sale price over the same month last year. The 189 condominium sales were better than the ten-year average of 179 sales for the month.
In the residential freehold market, sales were up slightly less than two per cent over the same month last year and average sale price was up 8.7 per cent.
Listings were up over both last year and the 10-year average in all sectors.
We are continuing to see a strong condominium market this year. Year to date, condo sales are just over five percent higher than during the same period last year, and the average sale price is 3.4 per cent higher than last for the same 11-month period.
Other year to date figures show that while the condominium market is stronger than last year, the residential freehold market is just over one per cent lower than the same period last year. Average sale price in the freehold market, however, rose 4.8 per cent over the same year to date period last year.
Every community in our marketing area has their own localized residential market with larger swings than we see in the overall numbers. Waterdown, Glanbrook and Dunnville (area 61) all saw
significant increases in numbers of sales, while Caledonia and Grimsby showed the largest drops in sales compared to November of last year.
Dundas and Caledonia saw the greatest decrease in average sale price compared to the same month last year while Grimsby, Flamborough and Waterdown had the greatest increases in average sale price.
These results should not be taken as trends as they are merely snapshots of the market at a particular time.
Please refer to the accompanying chart for residential market activities in other parts of RAHB’s jurisdiction.
Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®). Unit sales reflect “all property types” including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.
*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.

(October 5, 2011 – Hamilton, Ontario) The real estate market in the Greater Hamilton, Burlington and outlying areas* continued to show increases in listings, sales and average sale price when compared to the same month last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton-Burlington (RAHB).
The residential condominium market saw the largest gain with a 13.8 per cent increase in the number of sales when compared to last September. The same market also saw a less than one percent decrease in average sale price from September of last year. The 206 condominium sales were better than the ten-year average of 198 sales for the month.
In the residential freehold market, listings were up seven per cent over the same month last year and sales were up 8.6 per cent over August of last year. Average sale price remained very steady, with a very slight gain over last year.
“We are heading into the fall market with positive reports on the market, In general, we are seeing better-than-average results across the board when we look at last year and the ten-year average.”
For the third quarter of the year, numbers of listings and sales in the residential market are well ahead of the same quarter last year, with listings up 10.7 per cent, sales up 13.5 per cent and average sale price up 3.5 per cent.
“Last year’s third quarter included the months immediately following the implementation of the HST, when we saw activity in the real estate market drop considerably, so it’s no wonder that this year compared so well to last.”
While third quarter figures compared favourably to last year’s third quarter, year to date results show a different story. Listings of residential properties are down 3.3 per cent while sales are down 0.5 per cent for the same nine-month period. Average sale price, however, is four per cent higher year to date than last year at the same time. Total dollar volume of $2.895B in residential sales is 3.7 per cent higher than last year for the same period.
The numbers for the month of September:
All Property Types 2010 2011 % change 10-year average
Listings
1503
1586
5.5
1509
Sales
939
1007
7.2
1012
Average Sale Price
$306,109
$306,530
0.1
N/A
Residential Only
Listings
1390
1487
7.0
1386
Sales
903
981
8.6
968
Average Sale Price
$303,597
$304,852
0.4
N/A
Freehold Only
Sales
722
775
7.3
770
Average Sale Price
$321,356
$324,532
1.0
N/A
Condominium Only
Sales
181
206
13.8
198
Average Sale Price
$232,760
$230,815
-0.8
N/A
Commercial Properties (includes industrial, farm, vacant land and business)
Sales
36
26
-27.8
“Every community in our marketing area has their own localized residential market with larger swings than we see in the overall numbers, Hamilton East, Hamilton Centre, Dundas, Flamborough and Glanbrook all saw significant increases in numbers of sales, while Waterdown, Grimsby and Caledonia showed the largest drops in sales compared to September of last year.
Stoney Creek and Dunnville were the only communities with a sizeable decrease in average sale price compared to last year. Waterdown and Ancaster had the greatest increases in average sale price.
Please refer to the accompanying chart for residential market activities in other parts of RAHB’s jurisdiction.
Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS® Association of Hamilton-Burlington and processed through RAHB’s Multiple Listing Service® (MLS®). Unit sales reflect “all property types” including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.
*RAHB’s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.

(April 5, 2011 “ Hamilton, Ontario) The REALTORS ® Association of Hamilton-Burlington (RAHB)

reported a total of 1128 units sold in the association™s jurisdiction* in the month of March, according to

Multiple Listing Service ® (MLS ®) statistics released today. This represents a 12.1 per cent decrease in

sales from the same month last year.

Total unit sales for the first three months of the year are reported at 9.5 per cent lower than the same

period last year, while new unit listings are at almost the same level as the first quarter of 2010. While

sales activity is down for the first three months of 2011, the average sale price increased by 3.5 per cent.

Comparing this year™s listings and sales to last  year™s is comparing a normal market to an unusually active  

market.  When we look at how the market has performed over the last 10 years, this March performed

at just about average.

The number of residential properties sold during March totalled 1092, and included 869 freehold

properties and 223 condominiums. Commercial sales for March, including industrial, farm, vacant land

and business, totalled 36 units.

The average sale price of freehold residential properties in the association™s jurisdiction in the month of

March was $335,117, an increase of 4.2 per cent over March, 2010. The average sale price reflects the

dollar volume of freehold residential sales divided by the number of total freehold residential units sold.

In the condominium market, the average unit price was $220,179, which is virtually flat to March of last

year.

The spring market is proving to be what we would call a normal, more balanced market.

In this kind of market, we still see a good number of properties coming on the market and a good number

of sales going through. There is time for buyers to shop and compare before they buy.

Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the

REALTORS ® Association of Hamilton-Burlington and processed through RAHB™s Multiple Listing

Service ® (MLS ®). Unit sales reflect œall property types including residential, condominium, commercial

property, farm, vacant land and business, unless otherwise specified.

Ottawa “ March 15th, 2011 “  According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity in February 2011 ran close to the five-year average for the month, continuing a theme that has characterized the past four months.

Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service ® (MLS ®) Systems of Canadian real estate Boards came in 5.9 per cent below levels reported last February. This marks the smallest year-over-year decline in nine months, and the fourth consecutive month in which sales activity was on par with the five-year average for that month.

Seasonally adjusted home sales activity edged down 1.6 per cent in February 2011 compared to the previous month on a national basis. Sales activity eased in almost two-thirds of all local markets from the previous month, offsetting monthly increases in activity among other markets including Vancouver and Calgary.

Nationally, new listings in February edged up 1.5 per cent from the previous month on a seasonally adjusted basis, which builds on the 4.3 per cent monthly increase in January. The rise in new listings is consistent with CREA™s expectation that many sellers, who shied away from listing their home last summer when the national housing market softened, would list their home in early 2011, having by now observed improved demand and stable prices.

With both sales activity and new supply little changed in February, the housing market remained firmly in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 53.5 per cent in February. This is little changed from the previous four months.

œMost local housing markets in Canada are well balanced, but there are still a number of buyers™ and sellers™ markets, said Georges Pahud, CREA™s President. œHousing market trends often evolve and diverge from national trends due to local factors, so buyers and sellers should consult their local REALTOR ® to understand how the housing market is shaping up where they live.

The number of months of inventory represents the number of months it takes to sell current inventory at the current rate of sales activity, and is another measure of the balance between housing supply and demand. The seasonally adjusted number of months of inventory stood at 5.7 months at the end of February on a national basis. This is little changed from the 5.5 months reported in January, when it reached the lowest level since last April.

The national average price for homes sold in February 2011 rose 8.8 per cent year-over-year to $365,192. œThe average price has been skewed higher nationally and in British Columbia recently by a record number of multi-million dollar sales in a couple of areas in Greater Vancouver, said Gregory Klump, CREA™s Chief Economist.

œWhen you take Vancouver out of the equation, the year-over-year increase in the national average price drops to 3.4 per cent, added Klump. œWhile that™s still stronger than in the past six months or so, national average price gains may recede after tighter mortgage regulations take effect in March.

PLEASE NOTE: The information contained in this news release combines both major market and national MLS ®  sales information from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS ® is a co-operative marketing system used only by Canada™s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada™s largest single-industry trade associations, representing more than 100,000 REALTORS ® working through more than 100 real estate Boards and Associations.

The REALTORS ® Association of Hamilton-Burlington (RAHB) reported a total of 926 units sold in the association™s jurisdiction* in the month of February, according to Multiple Listing Service ® (MLS ®) statistics released today.   This represents an 8.7 per cent decrease in sales from the same month last year.

œWhile the numbers show that our sales and listings are down from last year, you have remember that February of 2010 was the beginning of the recovery from the uncertain market in the early part of 2009.   œWhile February sales weren™t stellar, they are certainly within the range of normal based on February sales over the last ten years.

The number of residential properties sold during February totalled 897, and included 702 freehold properties and 195 condominiums.   Commercial sales for February, including industrial, farm, vacant land and business, totalled 29 units.

The average sale price of freehold residential properties in the association™s jurisdiction in the month of February was $333,936, an increase of 3.7 per cent over February, 2010.     The average sale price reflects the dollar volume of freehold residential sales divided by the number of total freehold residential units sold.

In the condominium market, the average unit price was $232,289 a decrease of 3.4 per cent from the same month last year.  

œOur average sale price continues to climb, year after year,.   œBuying a property in the Greater Hamilton, Burlington and outlying areas is a good investment.

Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS ® Association of Hamilton-Burlington and processed through RAHB™s Multiple Listing Service ® (MLS ®).   Unit sales reflect œall property types including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.

The REALTORS ® Association of Hamilton-Burlington (RAHB) reported a total of 613 units sold in the association™s jurisdiction* in the month of January, according to Multiple Listing Service ® (MLS ®) statistics released today.   This represents a seven per cent decrease in sales from the same month last year.

œJanuary is typically a slow month for sales, but this past January was slower than normal The number of residential properties sold during January totaled 585, and included 458 freehold properties and 127 condominiums.   Commercial sales for January, including industrial, farm, vacant land and business, totaled 28 units.

The average sale price of freehold residential properties in the association™s jurisdiction in the month of January was $317,011, an increase of 9.4 per cent over January, 2010.     The average sale price reflects the dollar volume of freehold residential sales divided by the number of total freehold residential units sold.

In the condominium market, the average unit price was $229,383, a decrease of 2.2 per cent from the same month last year.

œthe real estate market should stabilize through 2011 and perform much as it did in 2010.   That said, the real estate market is still dependent on other economic factors, so we are cautious in our optimism that we are headed toward a stable, balanced market.

Figures quoted are for sales and average sale prices of units located in the jurisdiction* of the REALTORS ® Association of Hamilton-Burlington and processed through RAHB™s Multiple Listing Service ® (MLS ®).   Unit sales reflect œall property types including residential, condominium, commercial property, farm, vacant land and business, unless otherwise specified.

*RAHB™s jurisdiction includes Burlington, Waterdown, Flamborough and Dundas in the north; Hamilton, Ancaster, Stoney Creek, and Grimsby along Lake Ontario; and extends down to the shores of Lake Erie, including Glanbrook, West Lincoln, Smithville, Dunnville, Cayuga, Caledonia, and Hagersville.

(January 14, 2011 – Hamilton) The REALTORS ® Association of Hamilton-Burlington (RAHB) held its annual news conference today, and this year™s President anticipates the real estate market will further stabilize through 2011, with a market that performs much as it did in 2010.

In her inaugural speech,   2011 RAHB President, noted that consumer confidence is a concern for next year. œAlthough we have seen some signs of recovery with unemployment down and stabilizing, she said, œeconomic projections for the year call for cautious optimism with respect to full time job creation. Employment numbers released in January bode well for the year ahead, she noted. œIf we continue to see stabilization in the employment rate, we expect to see confidence in the market, and by mid-year housing sales should be on the rise.

The President predicted that 13,000 residential properties will be sold through RAHB™s Multiple Listing Service ® (MLS ®) in 2011.

Area media were on hand to hear  her report that the 2010 real estate market ended with 13,440 sales reported on the association™s Multiple Listing Service ® (MLS ®) , which can be considered an average number of sale based on sales figures over the last ten years.

The total volume of real estate sales in the area surpassed 4.2 billion dollars, the highest volume recorded in the association™s history as well, which speaks to just how powerful the MLS ® marketing system is to the real estate industry.