Hamilton housing prices up...again
Housing sales are up again in Hamilton, this time according to numbers from the local realtors' association.
The average sale price of a home in Hamilton and Burlington in June increased by 8.5 per cent over last June, said the Realtors Association of Hamilton-Burlington in a release Monday.
There was also an increase in properties listed — 1,980 properties listed in June, more than 2.5 per cent over the previous year.
"After a record-breaking month of sales in May, June settled into more of a normal pattern," said association CEO Ross Godsoe. "While June sales were higher than last year at this time, they fell a little below the 10-year average for the month."
Numbers for June were as follows:
- New listings: 1,600 in June, a 2.7 per cent increase over May and 2.2-per cent increase over June 2012
- Sales: 1,126, a 0.7-per cent increase over May and 4.4-per cent increase over June 2012
- Average sale price: $386,815, down 2.6 per cent from May but up 8.8 per cent over June 2012
Listings and sales increased in residential and commercial categories. Condo listings were up 5.3 per cent over 2012, but sales were down by 1.3 per cent.
While those numbers are for Hamilton and Burlington, recent numbers show that economic development in Hamilton alone is improving.
At a general issues committee meeting Monday, Neil Everson, the city's director of economic development and real estate, said the city has surpassed many of its economic development targets set in 2008.
Building permits have increased markedly since 2007, Everson said. Overall, they have increased from $801,719,348 in 2007 to $1,499,627,394 in 2012. Residential building permits have nearly doubled in that time.
The city has a whole also scores high on the economic diversity index, Everson said.