(May 5, 2009 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1,232 units sold in April, indicating a decrease of 12.6 per cent over the same month last year, but an increase of 18.9 per cent over March.  The total unit sales for the first four months of 2009 are being reported at 19.8 per cent lower for the same period last year, while new units listed are 4.3 per cent lower for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

“The unusually warm weather in April reinvigorated the local real estate market, as the area witnessed increases in listings, sales and average prices when compared to the first three months of the year,” said Bruce King, RAHB President.  “After the slight declines posted in the last two quarters, we are now seeing consumers warming up to real estate, with the average price in April back to where it was a year ago.”
The average price of freehold residential properties sold in the month of April was $302,306, an increase of 0.3 per cent over last year.  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 of condominiums in April was $213,673, a decrease of five per cent over the April 2008.  April’s total residential average sales price realized no change compared to the same month in 2008.
“We also saw another interest rate decrease in April, which will help make housing more affordable,” added King. “That, combined with some stability returning to the financial markets and banks and the levelling off of home prices will keep the local real estate market healthy.”
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.