(February 4, 2010 – Hamilton, Ontario) The Greater Hamilton-Burlington area resale market reported a total of 750 units sold in January, indicating an increase of 58 per cent over the same month last year, but a 3 per cent decrease from December 2009. “January sales certainly returned to more normal January levels,” said Joe Ferrante, RAHB President. “The unexpectedly strong market in December of 2009 was a hard act to follow, but the market held reasonably steady for the first month of the year.” Residential properties sold during January totalled 714 which included 574 freehold properties and 140 condominiums. Commercial sales for December, including industrial, farm, vacant land and business, totalled 36 units. The average price of freehold residential properties sold in the month of January was $302,474, an increase of 10 per cent over the same month last year, and 1.25 per cent over last month. In the condominium market the average price of condominiums in January was $230,583, an increase of 10 per cent from January 2009, but a decrease of 4.5 per cent from last month. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold. January’s total residential average sales price of $288,397 showed an increase of almost 9 per cent over the same month in 2009, and an increase of almost 1 per cent over December, 2009. “While the January market performed at levels that are more normal, we are looking forward with caution, as there is still a great deal of economic uncertainty surrounding us. ” added Ferrante. Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,400 real estate brokers and sales representatives from Hamilton, Burlington, and surrounding 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. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about RAHB is available at www.rahb.ca. For further information, contact: Joe Ferrante President, RAHB Ph: 905-662-6661 E: president@rahb.ca Valerie WebsterCommunications/Events Planner Ph: 905-529-8101 Ext. 294 E: valeriew@rahb.ca

source;

REALTORS® Association
of Hamilton-Burlington