According to information just released by Statistics Canada, July 2011 new home prices in the Hamilton area are down a touch by 0.1% from June 2011, but up 1.2% from a year ago. This represents a modest and sustainable increase, behind the overall Canada-wide growth of 2.3%.
The leader in price appreciation was the Toronto/Oshawa area with a 5.2% spike over a year ago, followed by Winnipeg where prices increased by 4.3% and St. John's with 4.1%.
The biggest loser on new home pricing was Windsor, where prices fell by 2.7% compared to a year ago. Victoria also saw a dip with a 1.6% decrease.
Thursday, 8 September, 2011
Friday, 2 September, 2011
Market Watch, August 21-27, 2011
Market Watch for Greater Hamilton Area Districts
Total Sales: 124
Avg Price: $261,470
YTD Avg: $268,057
Avg D.O.M.: 58 (Days on Market)
* Sales activity slowed a little this week.
* Average price is near the low end of recent norms.
* Average time to a sale is slightly longer than the expected range. (45-55)
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Total Sales: 124
Avg Price: $261,470
YTD Avg: $268,057
Avg D.O.M.: 58 (Days on Market)
* Sales activity slowed a little this week.
* Average price is near the low end of recent norms.
* Average time to a sale is slightly longer than the expected range. (45-55)
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Friday, 19 August, 2011
Market Watch, August 7-13, 2011
Market Watch for Greater Hamilton Area Districts
Total Sales: 152
Avg Price: $260,797
YTD Avg: $268,219
Avg D.O.M.: 51 (Days on Market)
* After a couple weeks of slower activity near the end of July, sales seem to have picked up a bit in the first full week of August.
* Average price is near the lower end of recent norms.
* Average time to a sale is within expected range. (45-55)
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Total Sales: 152
Avg Price: $260,797
YTD Avg: $268,219
Avg D.O.M.: 51 (Days on Market)
* After a couple weeks of slower activity near the end of July, sales seem to have picked up a bit in the first full week of August.
* Average price is near the lower end of recent norms.
* Average time to a sale is within expected range. (45-55)
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Saturday, 13 August, 2011
Why an MLS® listing won't significantly help private sales
I've said it before, and I'll say it again - private sales in the MLS® system will not be a dramatic game-changer for the industry. People who think it will be are falling for a common misunderstanding of what the MLS® system is and how it works or why it works.
Many people think the reason the MLS® sells houses is because it is a monopolous advertising system. This is not true. Every member brokerage continues to use their own sites, and for-sale-by-owner sites have always been around. As an advertising system, the MLS® is nothing special.
The real power of the MLS® system is in its origins. Before the internet came along and the public site gained popularity, the MLS® system was not an advertising medium at all. It was (and still is) an information-sharing system to allow multiple brokerages to cooperate and work together in selling local properties.
The idea is that when you list your house for sale, you don't just get one agent or one company - you get a sales force consisting of every single member of the real estate association, PLUS out-of-town agents. And you don't pay them one cent unless they successfully sell your house for the price and terms you want.
This "cross-selling" is the REAL power and cause of the success behind the MLS® concept. When you list with an agent and offer a selling commission, you get a sales force of more then 2500 agents in the Hamilton-Burlington area. When an agent has a buyer look at their listing and they're not interested, the agent is going to try to sell them another property.. maybe your property.
On the other hand, if you're trying to sell privately, you are the ONLY one who really cares if your property sells.
Still think that the MLS® system is nothing more than a good advertising service? Then let me leave you with a thought to ponder:
I am a full-time real estate agent, busting my backside consistently, taking phone calls and making appointments for all times of day. I don't have "down time" like someone who works a full-time job where they are at work 8 hours a day. Real estate is my day, all day and every day, even many holidays. But even with all the time and dedication I put in, at least 90% of the time it is another agent bringing the offer on my listing.
Why would a private seller get any better results from an MLS® listing than I would?
If the MLS® system was such a fantastic advertising medium, then I would sell more of my listings myself. But it's not. It's a market that allows agents to cross-sell.
And THAT is why an MLS® listing won't significantly help private sellers.
Many people think the reason the MLS® sells houses is because it is a monopolous advertising system. This is not true. Every member brokerage continues to use their own sites, and for-sale-by-owner sites have always been around. As an advertising system, the MLS® is nothing special.
The real power of the MLS® system is in its origins. Before the internet came along and the public site gained popularity, the MLS® system was not an advertising medium at all. It was (and still is) an information-sharing system to allow multiple brokerages to cooperate and work together in selling local properties.
The idea is that when you list your house for sale, you don't just get one agent or one company - you get a sales force consisting of every single member of the real estate association, PLUS out-of-town agents. And you don't pay them one cent unless they successfully sell your house for the price and terms you want.
This "cross-selling" is the REAL power and cause of the success behind the MLS® concept. When you list with an agent and offer a selling commission, you get a sales force of more then 2500 agents in the Hamilton-Burlington area. When an agent has a buyer look at their listing and they're not interested, the agent is going to try to sell them another property.. maybe your property.
On the other hand, if you're trying to sell privately, you are the ONLY one who really cares if your property sells.
Still think that the MLS® system is nothing more than a good advertising service? Then let me leave you with a thought to ponder:
I am a full-time real estate agent, busting my backside consistently, taking phone calls and making appointments for all times of day. I don't have "down time" like someone who works a full-time job where they are at work 8 hours a day. Real estate is my day, all day and every day, even many holidays. But even with all the time and dedication I put in, at least 90% of the time it is another agent bringing the offer on my listing.
Why would a private seller get any better results from an MLS® listing than I would?
If the MLS® system was such a fantastic advertising medium, then I would sell more of my listings myself. But it's not. It's a market that allows agents to cross-sell.
And THAT is why an MLS® listing won't significantly help private sellers.
Friday, 12 August, 2011
Market Watch, July 31-August 6, 2011
Market Watch, July 31-August 6, Greater Hamilton Area Districts
Total Sales: 109
Avg Price: $247,313
YTD Avg: $268,480
Avg D.O.M.: 48 (Days on Market)
* Although sales activity continued at a brisk pace through much of July, it has slowed to a level not seen since before Spring, indicating that the summer lull has settled in.
* Average price report is below the average and below the normal ranges recently seen. This is not like to be a sustained drop in price, but a short-term shift in active market segments
* Average time to a sale is within normal expected timeframe.
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Total Sales: 109
Avg Price: $247,313
YTD Avg: $268,480
Avg D.O.M.: 48 (Days on Market)
* Although sales activity continued at a brisk pace through much of July, it has slowed to a level not seen since before Spring, indicating that the summer lull has settled in.
* Average price report is below the average and below the normal ranges recently seen. This is not like to be a sustained drop in price, but a short-term shift in active market segments
* Average time to a sale is within normal expected timeframe.
Note: For this report, the "Greater Hamilton Area" includes Hamilton, Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek districts.
It is important to remember that average price reflects what the overall market is doing, but does not give any real clues as to what an individual property is worth or what values are doing in a specific neighbourhood. Contact me for your free no-obligation consultation if you'd like to know what your property might sell for.
Subscribe to:
Posts (Atom)
