The Rocca Sisters Blog

(October 5, 2011 – Hamilton, Ontario) The September residential real estate market in Burlington saw double-digit increase in sales when compared to the same month last year, according to Multiple Listing Service (MLS) statistics released today by the Realtors Association of Hamilton-Burlington (RHAB). Numbers of listings increased by almost 5% over last year at the same time, while average sale price decreased overall by 3.8%
Sales of condominium units increased by 31.2% over the same month last year, but average sale prices for condominiums unit dropped by 4.9%
‘When you compare this months results in Burlington to the ten year average, freehold sales are right on average and the condominium market showed marked improvement over the norm, ‘said RAHB President Ann Forbes Arndt.
Year to date, sales of freehold properties are up 1.2 % over the same period last year, with the average sale price 7.1% higher for the period. Despite how well condominium units sold in the month of September, year to date sales are down 4.3% to last year. Overall, residential sales are down year to date less than 1%, listings are down 4% and average sale price has increased by 7% for the period.
October 3, 2011 Oakville/Milton – Resale housing sales continue strong in the Oakville Milton area, according to statistics released today by The Oakville Milton and District Real Estate Board.
Sales of existing homes in September 2011 totalled 765 — a 12.7 percent increase over September 2010 sales of 679. The increase was most significant in Milton where the number of residential sales totalled 181 compared to 130 in September 2010 – a jump of 39 percent in a community recognized as one of the fastest growing in Canada.

The dollar volume of sales processed through the OMDREB MLS system increased by 16.5 percent in September 2011 to $312,998,734.
Once again, the Board reported a climb in new listings, as sellers responded to higher prices in both Milton and Oakville.

‘The 7.5 percent increase in new listings is area sellers’ response to the positive price gains over the past several months,’ commented OMDREB President Jack McCrudden. ‘Despite the current global economic uncertainty, real estate remains a great investment and buyers are responding.’
The average price in Milton rose 16 percent to $437,293 last month, compared to $376,003 a year earlier. In Oakville, the average price totalled $582,316 up 5 percent over September 2010’s price.
McCrudden notes that record low mortgage rates remain the most significant factor in buyers’ housing purchase decisions. ‘Even though recent Statistics Canada figures indicate a decline in consumer confidence across the country, home buyers in this area are still influenced by record low mortgage rates and increased choice in the housing market.’

Third-quarter results point to a robust but stable market: Sales increased by 8 percent to 7,915 compared to 7,332 in the third-quarter of 2010 and numbers of new listings also increased by 8 percent for the first nine months of the year. Average prices in Oakville and Milton increased by 8.5 and 6 percent respectively year to date.

‘If low mortgage rates continue, we’re looking forward to a strong market through to year end,’ McCrudden concludes.