Up from last year, but Hamilton home prices 'actually quite stable'
Kelly Bennett | CBC News | Posted: October 6, 2015 4:09 PM | Last Updated: October 6, 2015
Home prices and sales were up again in September compared to the same month in 2014.
But don't think it's a runaway train, said the CEO of the Realtors Association of Hamilton-Burlington in the release of the monthly stats.
"Everyone seems to think the prices just keep going up and up," said the RAHB head, George O'Neill. "That is true only in comparison to last year."
Average sales prices are "actually quite stable," he said, fluctuating so far this year within a range of about $15,000.
Prices:
The median price for all homes sold in September was $380,000, up 8.6 per cent from the same month the year before. (The median price in August was $365,000.)
An anomaly month in August saw the average price jump way up due to two multi-million dollar sales in Oakville that got tabulated as part of Hamilton's number.
Sales and inventory:
There were 1,387 properties sold through the RAHB in September. That marked an 8.2 per cent jump from September 2014. Even starker is comparing the sales to the 10-year average for September; last month broke the record and was 25.2 per cent higher than that decade average.
There were 10 per cent fewer homes on the market to pick from at the end of September than the same month in 2014.