(February 5, 2008 – Hamilton, Ontario) The Hamilton-Burlington area real estate market reported a total of 828 unit sales in January, indicating an increase of almost one per cent over the same month last year.  In addition, it is important to note that new units listed are over 15 per cent greater compared to January 2007, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“Housing sales in January typically set the pace for the year, and from what we’ve seen, we’re on target for another good year,” said RAHB President, Ann Cosens.  

Residential properties sold during January totalled 783, which included 634 freehold properties and 149 condominiums.  These statistics are almost exactly the same numbers seen in January 2007. 

The average price of freehold residential properties sold during the month of January was $295,758, an increase of 10 per cent from January 2007.  The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.

In the condominium market, the average price in January was $203,090, an increase of five per cent. January’s total residential average sales price increased nearly nine per cent over the same month in 2007.

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