(January 6, 2010– Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 779 units sold in December, indicating an increase of 70 per cent over the same month last year, but only 18 per cent higher than December 2007.

The total unit sales for 2009 are being reported at 5.8 per cent higher than 2008, while new units listed are 6.8 per cent lower for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“December 2009 was the best December RAHB has seen, rounding out the best fourth quarter in area history.” said Joe Ferrante, RAHB President. “December is traditionally the slowest month of the year, but that was not the case in 2009.”

Residential properties sold during December totalled 733 which included 568 freehold properties and 165 condominiums. Commercial sales for December, including industrial, farm, vacant land and business, totalled 46 units.

The average price of freehold residential properties sold in the month of December was $298,641, an increase of 13 per cent over the same month last year, and a decrease of 10.2 per cent over last month. The average price for all freehold residential properties sold in 2009 was 2.2 per cent higher than 2008.

In the condominium market the average price of condominiums in December was $241,574, an increase of 26.3 per cent over December 2008, and an increase of 5.3 per cent over last month. The average price for all condominium properties sold in 2009 was 4 per cent higher than 2008. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.

December’s total residential average sales price increased 14.6 per cent over the same month in 2008, and the average price for the year to date increased 2.6 per cent over 2008.

The total number of units listed for sale during December was 826, which is 51 per cent more than were listed in the same period in 2008.

“The Greater Hamilton-Burlington and the surrounding housing market performed reasonably well in 2009, outperforming most other markets in Ontario,” added Ferrante. “

Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.

courtesy of

REALTORS® Association of Hamilton-Burlington