Paradigm Rentals

Wonderful two bedroom units available for rent in sought-after Paradigm complex in midtown Burlington.

The Paradigm Centre Tower is available for occupancy now. Two bedrooms starting at $1800/ month.

– Fabulous new condo next to Burlington GO Station
– Quartz counters, luxury plank floors & built-in appliances
– 24-hour security, indoor pool, basketball court, theatre etc.
– First & last deposit and credit check required
– Rent is plus hydro

For more information, contact Vanessa at vanessa@daviescondos.ca or visit the rental office at 2089 Fairview St.

Rental Office Hours:
Tuesday – Thursday: 3 to 7 p.m.
Saturday: noon to 5 p.m.

1 bedroom and 1 bedroom+den units are also available for rent.


PHB-2025 Maria Street

Brand New – luxurious, outstanding Penthouse at The Berkeley, located in the heart of downtown Burlington. No detail overlooked. 2.5+1 bedroom and 2.5 bath penthouse suite, located on Maria Street. Hotel inspired, intimate lobby, stunning architecture with 3-storey precast stone podium. True luxury in this Penthouse of 2200+ sq. ft., and over 1000 sq. ft. of amazing outdoor terrace c/w gas line and hose bib.

Designer Barzotti kitchens, wood floors throughout (except bathrooms), GE Monogram appliances, cook top gas or electric. Valance lighting. Wine fridge. Stone counters w/ polished square edge, wood grain interior kitchen cabinets. This is the perfect alternative to a large home – a unique property with abundance of light just steps from restaurants and shops. 10′ ceilings, 7′ Tudor style solid wood baseboards, 3′ matching backband casings. 8′ interior passage doors throughout w/ satin nickel levers and hinges. 2 parking space. Oversized locker. Occupancy spring 2019.

  • 2+1 bedroom, 2.5 bathroom
  • Condo Fees: $1212.80
  • Listing Price: $2,500,000

Learn more: The Berkeley Penthouse EBrochure 

For more information, please contact Davies Condos at info@daviescondos.ca or 905-333-4347.

 

 


801-2210 Lakeshore Rd.

Rare opportunity to own a 1-bedroom in the prestigious Lakeforest condominium in downtown Burlington.

Features: White kitchen with stainless appliances and breakfast nook, spacious living & dining rooms, bedroom and 4 piece bathroom. Eastern exposure from large balcony with stunning views of Lake Ontario. Exceptional building amenities such as in-ground pool, outdoor patio, party room/library, fitness centre and beautiful gardens. Just a short walk to all the best shops, restaurants and parks downtown Burlington has to offer. Includes one parking space (LVL B, #13) and one locker (L-27).

  • 1 bedroom, 1 bathroom
  • Taxes: $3130.33
  • Condo Fees: $555.62

Downtown Rentals

Now renting The Berkeley condos in downtown Burlington. Available early 2019. Luxury. Upscale. Fabulous Finishes.

1 Bedrooms from $1900
1 Bedroom + Den from $2195
2 Bedrooms from $2850
2 Bedroom + Den from $3500

Click HERE to register for more information


Gallery Condos & Lofts

Register Now for Gallery Condos & Lofts!

Art Inspired Living from the $400’s to over $1M in downtown Burlington.

CLICK HERE to REGISTER

Davies Condos is the exclusive Broker for Gallery Lofts and Condos

Linda Davies Real Estate Brokerage Ltd.

6-360 Pearl Street. Burlington. Ontario. 905-333-4347


RAHB Realtors®

The REALTORS®  Association of Hamilton-Burlington (RAHB) released August statistics. RAHB reported 1,089 residential sales were processed through the RAHB Multiple Listing Service® (MLS®) System in August, 2018, less than one percent more than the same month last year and 2.9 per cent fewer than the 10-year average for the month.

Residential freehold sales were exactly the same as August of last year, while condominium sales were 2.9 per cent higher.

New residential listings were three per cent lower than the same month last year, and 4.5 per cent lower than the 10-year average.

“August was the first month this year that sales were closer to the 10-year average. Monthly sales have been double-digits lower than average, where this month they were less than three per cent lower,” says RAHB CEO George O’Neill. “In fact, if you remove the two record-setting months of August in 2015 and 2016, sales were in line with the 10-year average.”

The average residential sale price for August 2018 was 2.4 per cent lower than August of last year.

“The number of sales in the condominium market were higher this August, with a corresponding increase in the average sale price for condos over last year,” adds O’Neill. “This might indicate some buyers are looking to purchase more inexpensive options.”

When looking at the year-to-date number of sales and average sale price, the peak of the spring market for residential occurred in May. RAHB expects there to be the usual upswing moving into the fall market.

Neighbourhoods throughout the RAHB area experience results that differ from the average of the entire RAHB market area. In August, Hamilton Centre, Burlington, Stoney Creek and Dunnville experienced significantly higher increases in residential average sale price than the RAHB average, while Hamilton West and Flamborough experienced slightly greater decreases in average price than the RAHB average.

Neighbourhoods vary, so determining the right price when buying or selling a property can be challenging. Local REALTORS® have the experience and tools to help buyers and sellers make those big decisions, so please consult with one.


Why do condo fees differ?

Highrise Condo Fees in Burlington seem to be all over the map.  Why do they vary so much?

On average, maintenance fees range from a low of approximately $0.33 /square foot to a high of $0.94/square foot.  Why?

Well, the first, most significant factor that affects the level of condo fees in any building is the number of units.  Contrary to popular belief, it is NOT the extent of amenities.

 

Example #1:  We will compare 3 buildings.  All buildings have an indoor swimming pool, party room, games room, underground parking garage, and landscaped communal BBQ area.

All buildings are separately metered for hydro.  All have 24 hour security.

 

Size                       Condo Fee/sq ft.

Building #1          330 Units             $.57/sq ft

Building #2          187 Units             $.61/sq ft

Building #3          117 Units             $.68/sq ft

 

Example #2:  We will compare 2 buildings with very few amenities, in fact none.  No security, no pools, underground garage, and small party rooms.

 

Size                       Condo Fee/sq ft

Building #1          13 Units               $.67/sq ft

Building #2          135 Units             $.47/sq ft

 

Note:  Building #1 in the second example has condo fees as high as Building #3 in the first example.  And Building #3 in the first example is loaded amenities!

So, to get the lowest condo fees, buy into the largest development with no amenities.    The single most costly amenity is security – especially 24 hours around the clock.  This is one of the largest items in a condo budget.   A topic for another day.


Cursing Condo Fees!

Many people tell me they love the idea of condos for all the good reasons (freedom, lock the door and go, peace of mind, modern fittings and finishes, no more snow, built in community, contemporary layouts, great locations, convenient amenities) but just simply won’t consider buying one because they can’t stomach the idea of paying condo fees.

I call their bluff…..they are just  not ready for a condo move.

To replicate the level of amenities and service that one gets in a condo, to fully quantify all of the operating costs of a detached home and also to contribute monthly to a slush fund for future major expenditures, condominium fees start to look like a bargain.

Well, that may be excessive, but you know what I mean.

I fully admit that one has to willingly and gleefully embrace the condo lifestyle.  If you want to save money by cutting your own grass and cleaning your eaves troughs and shoveling snow, you are not a good condo candidate. But if you are ready to embrace the hassle-free condo lifestyle the condo fees are part of the package.

Watch for my next post where I will dive into why condo fees vary from building to building.

Thanks for reading!!

 


RAHB REALTORS® Release July Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,072 residential sales were processed through the RAHB Multiple Listing Service® (MLS®) System in July 2018, 4.7 per cent fewer than the same month last year and 16.3 per cent fewer than the 10-year average for the month.

Residential freehold sales were 3.2 per cent lower, and condominium sales were 11.5 per cent lower, than July last year.

New residential listings were 8.4 per cent lower than the same month last year, but 1.5 per cent higher than the 10-year average.

“Comparing this July to last does not necessarily provide an accurate picture of the market, as last year’s increase in listings and prices were influenced by government regulations,” says RAHB President and local REALTOR® Jack Loft. “Right now, we are sitting on the border between a balanced market and a seller’s market.”

The average residential sale price for July 2018 was up 1.3 per cent, continuing the upwards trend for the month of July over the past 10 years.

Neighbourhoods throughout the RAHB area experience results that differ from the average of the entire RAHB market area. In July, while Hamilton Centre, Hamilton Mountain and Burlington followed the trend of significantly fewer sales compared to last year but had higher increases in average sale price, Ancaster saw an increase in sales but a dip in the average sale price compared to last year.

“Even within neighbourhoods, the real estate market differs from one street to another, from one property to another,” adds Loft. “REALTORS® know the local markets and can help buyers and sellers navigate their way to a successful home buying or home selling experience.”


What Makes a Condo Floor Plan Work??

Of course, that’s personal.  To buy a condo from floor plans can be a daunting task at best.  For those of you who have trouble picturing a 2 dimensional floor plan in real life, let me give you a hint on how to see it in 3D and how you can imagine you would live in it.

Take a walk with me.  Yes, I mean, take a walk.  Mentally or virtually.

Start at the front door.  Open it.  What do you see immediately – a beautiful piece of art, a hallway, a doorway, a closet, a foyer?   Kick off your shoes.    Hang up your coat.  Where do you throw your keys?

Take your groceries to the kitchen.  Make dinner.  How is the magic triangle (a line from fridge to stove to sink) working in this kitchen?   Where is the prep area,  cooking area and clean up area?    What do you see when you stand at your sink?  Is there enough cupboard space?

Answer your door when visitors arrive.  Hang up their coats.  Take them into your living room.  Serve them a drink.  Go out to your balcony.  How are you sitting?  Can you create a conversation circle that works in both your living room and your balcony?  Sit down for dinner.  Where are you sitting?  What do you see?  Where does your TV go?

Now it’s time for bed.  Walk into the bedroom.  Where is the entrance door to the bedroom?  Does it bang into any other doors such as an ensuite bathroom or closet door?   Do you have to close your bedroom door in order to get into your closet?  How big is the closet?  Where do you keep your laundry hamper?

Oh no, it’s time to do laundry.  Take your hamper (from where?) to the laundry.  Where do you fold?  Where do you keep sheets and towels?

How large are the windows?  Which way does it face?  Whether you want a lot or a little, how much sun will you get?  What will you be looking at when you sit on your sofa – both inside and outside of your unit.  Do you have full view into a bathroom from your living room….this isn’t really pleasant.  Do you look into a wall of an adjacent building or do you have a vista of some kind?

Thank you for going on a virtual walk with me. Hope it helps.

 


The Condo Market is Hot!

Condos still remain the affordable option for many – especially in Burlington!

While the average condo price in the GTA in June 2018 was $774,554, (23.5% increase year or year) the average price of a condo in Burlington compared to Toronto is still a bargain!

Toronto has broken the $1,000/sq ft threshold on average for new condos, Burlington’s offerings for new condos hover in the low to mid $700’s/square foot as of June 2018. (Urbanation Report:  Project Sales by Municipality and Sub-Market)

With a current shortage of supply in both the resale and new condos, these numbers appear to only be going up.

Careful!  Averages can be deceiving.    Burlington, for example has new condos for sale ranging from the $500’s/sq. ft. to over $1,000/sq. ft.


RAHB REALTORS® Release June Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,257 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in June, 14.2 per cent fewer than the same month last year and 19.2 per cent fewer than the 10-year average for the month.

All property listings were 19 per cent lower than the same month last year, but 1.1 per cent higher than the 10-year average. Residential sales were 13.7 per cent lower than June of last year, with residential freehold sales 13.3 per cent lower and condominium sales 15.6 per cent lower than the same month last year.

“Having a more balanced market this year really showcases how busy the market was for the last few years,” says RAHB CEO George O’Neill. “Sales and listings are down from last year, but they’re being compared to a year impacted by government regulations. The regular spring market pattern has returned this year.”

Although the average residential sale price for June 2018 is lower compared to June 2017, prices have made healthy gains over the past five and 10 years.

There has been an increase in sales in some areas of our market, such as Hamilton West, Dundas, Grimsby and Dunnville. Some areas which were particularly active over the last few years, such as Hamilton East, Hamilton Centre and Burlington, are still experiencing fewer sales.

“The numbers show the fluctuations and distinct characteristics between our various communities,” adds O’Neill. “This is why a local RAHB REALTOR®’s professional advice is critical when buying and selling your property.”

*Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value.

 


RAHB REALTORS® Release May Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in May, 27 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month.

All property listings were 19.8 per cent lower than the same month last year, but 5.4 per cent higher than the 10-year average.

“There’s definitely been a trend to fewer sales compared to the 10-year average since the spring of last year, when the Fair Housing Act came into effect and, coincidentally, the real estate market underwent a significant change,” said RAHB CEO George O’Neill. “However, the local real estate market is stable and is, in fact, following the normal progression of increasing spring-time sales from the lows of December and January.”

Overall, residential sales of 1,273 units were 26.2 per cent lower than May of last year. Residential freehold sales were 28.9 per cent lower than the same month last year, while sales in the condominium market were 13 per cent lower.

The median price of freehold properties decreased by 5.7 per cent compared to the same month of the previous year, while the median price for condominium properties remained the same.

“The condominium market is not seeing the drop in average and median sale prices seen in the freehold market,” noted O’Neill. “Prices were stable compared to last year, suggesting that lower priced properties and the condo market are faring quite well. That market is also seeing a higher sales-to-new-listing ratio and is on the border between a balanced and seller’s market.”

The average price of freehold properties declined by 8.5 per cent from May 2017, and the average sale price in the condominium market increased by nearly one per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Please contact a local REALTOR® for information about your specific neighbourhood or property.

The average number of days on market rose to 27 days from 16 days in the freehold market and increased to 28 days from 16 days in the condominium market, compared to the same month last year.

“There continues to be an increase in average days on market, which is good for the market overall,” added O’Neill. “Buyers have more time; sellers can be more confident that when they sell and turn to buying their next property they won’t be faced with rapidly escalating purchase prices. A RAHB REALTOR® can help buyers and sellers navigate their way through this.”

Every community in RAHB’s area has its own localized characteristics that influence that market. Please ensure you contact a local RAHB REALTOR® for professional advice.

 


Burlington Burloak Relay For Life 2018

Overview:
Relay For Life Burloak is a 12 hour festival-like fundraising event in support of the Canadian Cancer Society, where team members take turns walking around a track. On and off track, there is food and fun at Relay For Life – check out the entertainment, games and many activities, or relax at your team’s campsite! The centrepiece of our event is our moving and inspirational Luminary ceremony at dark, where we remember and honour those that have battled cancer.

Date and Time:
Friday, June 1, 2018 07:00 PM – Saturday, June 2, 2018 07:00 AM

Location:
Bronte Creek Provincial Park
1219 Burloak Drive
Oakville, Ontario, L6M 4J7


Burlington Sound of Music Festival

Overview:
So much music, so much fun. Every year in June, music takes over Burlington Downtown and Waterfront. The largest local music event of the year features an eclectic combination of emerging artists, past favourites and current performers. A mix of free and ticketed shows continue all over town for nine days. Activities include the Sound of Music Club Series, Grande Festival Parade, Downtown Streetfest, Family Zone, carnival and vendors. Bring the whole family, you’ll find something for everyone. soundofmusic.ca

Date and Time:
Saturday, June 9, 2018 01:00 PM – 11:00 PM

Upcoming Dates:
Sunday, June 10, 2018 02:00 PM – 09:00 PM
Thursday, June 14, 2018 07:00 PM – 11:00 PM
Friday, June 15, 2018 12:00 PM – 11:00 PM
Saturday, June 16, 2018 12:00 PM – 11:00 PM
Sunday, June 17, 2018 12:00 PM – 07:00 PM

Location:
Burlington Downtown and Waterfront
1400 Lakeshore Road
Burlington, Ontario, L7R 4K3

Category:

  • Culture
  • Other Events
  • Recreation

Burlington Food Truck Festival July 2018

Original Article: https://calendar.burlington.ca/Event/Index/2090cf02-bbcf-4b5b-826d-a8c5009de700

Overview:
Burlington Food Truck Festival is expanding to 3 DAYS! 40 Food Trucks will be serving up some of the best food from around the country. This is a festival you won’t want to miss! Show some of your Burlington love by bringing your friends and family. Oh and don’t forget, there will be FREE ADMISSION, a children’s midway, local performers, cold beer and eating challenges geared to entertain the masses!

Date and Time:
Friday, July 20, 2018 05:00 PM – 11:00 PM
Add to Calendar

Upcoming Dates:
Saturday, July 21, 2018 12:00 PM – 11:00 PM
Sunday, July 22, 2018 12:00 PM – 08:00 PM

Location:
Spencer Smith Park
1400 Lakeshore Road
Burlington, Ontario, L7S 1Y2


Get Brian Gluckstein’s Tips For Mixing Traditional & Modern Decor

Original Article: https: //houseandhome.com/video/get-brian-glucksteins-tips-mixing-traditional-modern-decor/

Go inside a stunning, upscale condo with classical architecture by designer Brian Gluckstein. See how he mixes traditional and modern style in the most effortless way.

To keep the look cohesive, Brian stuck to a neutral palette of whites, greys, creams and pops of smoky blue. In the dining room, silk grasscloth wallpaper is paired with traditional wall paneling for a layered look, while glass and brass lighting offers a contemporary edge. Glass and gold finishes are repeated in the living room, too. Over in the kitchen, taupe marble countertops and brushed nickel hardware warm up the white contemporary cabinets. In the white bathroom, Brian incorporated an oversized mirror, art and modern sconces.


How To Turn A Small Backyard Into An Elegant Oasis

Original Article: https://houseandhome.com/video/how-to-turn-a-small-backyard-into-an-elegant-oasis/

Living in the city has its perks, but having a home with a big backyard isn’t one of them. Horticultural landscape technician Joshua Hollander proves that a lack of square-footage doesn’t mean a lack of potential. Get backyard landscaping ideas and learn how he transforms a small backyard into an elegant outdoor space perfect for summer entertaining.

Over two summers, Joshua made a variety of savvy changes to the urban area. He divided the space into different zones, including a backyard patio, intimate seating area, lounge section and surrounding gardens. Tall trees and a custom cedar screen add privacy, while low-maintenance plants offer easy elegance. Other decorative features include boxwood hedge and ornamental grass. Soft lighting adds a glow after dark, making the backyard ideal for evening entertaining.

 


Design: Transforming Your Space with Light

Original Article: https://myhomepage.ca/design-transforming-space-light-feb2018/

Lighting is an essential part of any interior space, and achieving good lighting in your space can elevate and transform your design aesthetic.

There are many considerations such as functionality, mood and atmosphere that should be taken into account to ensure you are successful when tackling lighting. When you are starting to develop the layout for the lighting in your living space, a good approach to consider is to layer various types of lighting, as it affords you a greater flexibility. There are four basic categories of lighting layers: Ambient, Task, Accent and Decorative.

 

Kitchen IslandLiving Room

 

The first layer of lighting is known as ambient lighting, which illuminates a space, allowing you easy mobility throughout a room. The second layer of illumination is task lighting and, as the name states, it affords you added lighting in a specific area devoted to a particular undertaking such as reading, a kitchen counter space, etc. Accent lighting, is the third layer and is used to highlight artwork, decor or perhaps architectural features within a space. And, finally, there’s decorative lighting, the fourth layer of illumination, which is simply an accessory to your room. It is sometimes referred to as the “jewelry” in the room or the finishing touches.

 

KitchenDining Room

 

Another source of lighting that sometimes gets missed when designing a plan is natural light. Natural light is the most beneficial, inexpensive and environmentally friendly light available to us. Many condos today are being designed to maximize natural light with an abundance of windows that not only offer us a fantastic source of light, but great views and design aesthetic. If you are considering a major renovation of your home be sure to incorporate as much natural light as possible, be it through enlarging your current window size, adding a transom window above a walkout if space permits, or perhaps adding a skylight.

 

Dining Room

 

Light is essential to interior spaces. It is a powerful tool that has the ability to transform the feeling of a space by simply altering its intensity, colour or placement. It can be one of the greatest challenges in a home…but knowing and understanding the effects light has on your space will help you gain both a balanced and an impressive light plan in your home.


Space-Saving Solutions For Small Condo Kitec

Original Article: https://houseandhome.com/video/small-condo-kitchen-space-saving-solutions/

Designer Cameron MacNeil transforms a builder basic condo kitchen into a modern space with timeless finishes and sleek appliances. Steal his expert storage tips, small space design advice and more.

Cameron swapped the heavy wood cabinets for crisp white ones and replaced bulky appliances with newer, streamlined versions to help expand the space. To increase the size of the countertop, he moved the peninsula a foot closer to the dining area and extended it to create a breakfast bar. Cameron also incorporated extra storage with lower cabinets and a pantry on the side of the peninsula. Caesarstone countertops offer a clean look while a porcelain backsplash that mimics the look of marble adds interest.


Finance: How to Help Millennials Buy Their First Condo

Original Post: https://myhomepage.ca/finance-help-millennials-buy-first-condo-nov2017/
Author: Rubina ahmed-haq

Millennials are so financially strapped that many can’t find the funds to move out of their parents’ home. These are the findings of a new report by the University of Waterloo called Gen Y at home. It finds 47.4 per cent of millennials (also known as Gen Y) in the GTA live with their parents.

The reasons, the study says, is the high cost of housing, debt and job instability.

For young people moving out, your parents’ home can be the first step into adulthood. If you have a young person living at home with you, or you yourself are a millennial that wants to get out on their own, here are some tips to make that happen.

Focus on Student Debt

First One of the roadblocks in saving for a home is having large amounts of student debt. According to the Canadian Federation of Students, the average student graduates with $28,000 in debt after four years of study. That can make it hard to save. After graduation the number one priority should be to get student debt paid. Buying a house when you are still making payments on a student loan makes you financially more vulnerable.

Lower Your Expectations

Millennials struggling to move out should be realistic about what they can afford. Your first home, especially in a city like Toronto, most likely won’t be a detached four-bedroom. Consider smaller places to live. Condo townhomes are a great option to give a house feel, with a driveway and backyard, without the price tag. If your dream is to live in the core of the city, look for new condo projects happening now that fit your budget. By putting down a deposit, usually a fraction of the price of the condo, you can buy time to plan your big move, while the building is being built.

Buy with Friends

Consider buying a larger home with a group of friends. Banks are now offering products that are tailored to those wanting to buy a home in groups of three or more. Before making this decision make sure you talk to the other buyers about what their long-term vision is about the property. If the plan is to sell in five years time and use the profits to buy your individual homes, you can plan accordingly. Or maybe the plan is to hold on to the property and use the profits from any rent collected to supplement your income. Make sure the plan is clear up front.

Check Your Credit Score

It’s never a bad idea to take a peek at your credit score and get a copy of your report. You won’t ruin your credit, as some believe, if you are simply asking for information on yourself. If your score is lower than you expected, take steps now to improve it. Pay your bills on time, don’t carry large amount of debt, and don’t constantly apply to obtain credit, unless you really need it. All this proactive work means it will be easier to get a loan when the time arrives.

Focus on Walking Neighbourhoods

When it comes time to buy, focus on areas where you could survive without a car every day. By ditching it you will save close to $10,000 a year. That’s according to the CAA, and that extra money will help qualify you for a larger mortgage, and give you the ability to make more lump sum payments.

According to the report attitudes about living at home vary. For some, according to the report, co-residence is just about sharing physical space, while for others living with parents means actively being part of a close intergenerational family, sharing domestic work and spending time together.


RAHB REALTORS® Release April Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,185 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in April, 32.4 per cent fewer than the same month last year and 21.7 per cent fewer than the 10-year average for the month.

All property listings were 10.5 per cent lower than the same month last year and 5.2 per cent lower than the 10-year average.

“It’s no surprise sales were down from last April, when we saw a record in that month,” said RAHB CEO George O’Neill.

Overall residential sales of 1,144 units were 31 per cent lower than April last year. Residential freehold sales were 34.4 per cent lower than the same month last year while sales in the condominium market were 15.7 per cent lower.

The median price of freehold properties decreased by 8.4 per cent over the same month of the previous year, while the median price for condominium properties decreased by 2.1 one per cent compared to the same period.

The average price of freehold properties declined by 10.5 per cent from April 2017; the average sale price in the condominium market decreased by less than one per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a local REALTOR® for information about your specific neighbourhood or property.

“With the sales-to-new-listing ratio at about 56 per cent in the residential market, we are at the higher end of a balanced market,” added O’Neill. “However, with between only two and two-and-a-half months of inventory, it would not take much to move closer to a seller’s market through the spring.”

The average number of days on market rose to 26 days from 14 days in the freehold market and increased to 29 days from 15 days in the condominium market, compared to the same month last year.

“In general, there is more time to view and compare properties than last year at this time,” noted O’Neill, “so engaging a local REALTOR® should be part of every seller’s and buyer’s strategy.”

Comparison Chart April 2018

Every community in RAHB’s area has its own localized characteristics that influence that market. Please ensure you contact a local RAHB REALTOR® for professional advice.

RAHB Market Activity for Apr
Residential Real Estate Market in Burlington April 2018
Residential Real Estate Market - Hamilton April 2018

 

 

 


RAHB REALTORS® Release March Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,099 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March, 38.6 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month.

All property listings were 13.5 per cent lower than the same month last year and 8.1 per cent lower than the 10-year average.

“Our area experienced similar cooling off as is being reported by other real estate markets in the Golden Horseshoe area,” said RAHB CEO George O’Neill. “Local sales were lower not only compared to March of last year, but also compared to the 10-year average for March.”

Seasonally adjusted* sales of residential properties were 34 per cent lower than the same month last year, with the average sale price down 8.6 per cent for the month. Seasonally adjusted numbers of new listings were 3.2 per cent lower than March of 2017.

Overall residential sales of 1,050 units were 37.8 per cent lower than March last year. Residential freehold sales were 38.4 per cent lower than the same month last year while sales in the condominium market were 35.5 per cent lower.

The median price of freehold properties decreased by 8.2 per cent over the same month of the previous year while the median price for condominium properties increased by almost one per cent compared to the same period.

The average price of freehold properties declined by 15.5 per cent from March 2017; the average sale price in the condominium market decreased by 1.6 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a local REALTOR® for information about your specific neighbourhood or property.

“This is the first time in awhile that we’ve seen the average sale price lower than the same month the previous year for both freehold and condominium properties,” added O’Neill. “The condominium market is experiencing less of a drop – not even two per cent – and in fact, the median sale price is still almost one per cent above where it was last year.”

The average number of days on market rose to 26 days from 17 days in the freehold market and increased to 29 days from 19 days in the condominium market, compared to the same month last year.

“For the general downward trend in the numbers comparing March 2018 to March of 2017, we have to keep sight of the bigger picture,” noted O’Neill. “The sales-to-new-listings ratio is still at 60 per cent for the residential market, which is generally considered the line between a balanced market and a seller’s market. In addition, the average days on market is at a comfortable level, providing buyers and sellers time to make informed decisions.”

Every community in RAHB’s area has its own localized characteristics that influence that market. Please ensure you contact a local RAHB REALTOR® for professional advice.

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

 

 


Slowdown in February 2018 Market

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 779 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February, 40.3 per cent fewer than the same month last year and 25.7 per cent lower than the 10-year average for the month.

All property listings were 15 per cent lower than the same month last year and 21.4 per cent lower than the 10-year average.

“February’s real estate market experienced a significant slowdown, and that’s compared not just to last year, but to the last 10 to 15 years as well,” said RAHB CEO George O’Neill. “In fact, the number of new listings was the lowest in the last 15 years and the number of sales was the second-lowest in that same 15 year period.”

Seasonally adjusted* sales of residential properties were 38.9 per cent lower than the same month last year, with the average sale price down 0.2 per cent for the month. Seasonally adjusted numbers of new listings were 12.6 per cent lower than February of 2017.

RAHB-Seasonally-Adjusted-Feb-18

 

Overall residential sales of 752 units were 40 per cent lower than February last year. Residential freehold sales were 42.8 per cent lower than the same month last year while sales in the condominium market were 28 per cent lower.

The median price of freehold properties increased by 2.7 per cent over the same month of the previous year while the median price for condominium properties increased by 4.5 per cent compared to the same period.

The average price of freehold properties was 3.6 per cent lower than in February 2017; the average sale price in the condominium market increased by 2.7 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a REALTOR® for information about your specific neighbourhood or property.

“Prices in both the freehold and condominium markets have moderated from the year-over-year increases we saw through the last couple of years,” added O’Neill. “Condo prices showed gains in both average and median prices, but the freehold market saw a dip in average sale price and an increase in the median price.”

The average number of days on market increased to 37 days from 22 days in the freehold market and increased to 34 days from 21 days in the condominium market, compared to the same month last year.

“While the days on market has increased substantially from last February, you have to remember that last February was a remarkably active month with record sales for the month. In fact, February 2017 sales were 27.7 per cent higher than the 10-year average.” noted O’Neill. “This February, the average time it took to sell a listed property actually followed the normal pattern for the month – that is, it was lower than it was in January. With the sales-to-new-listings ratio still in the low end of seller’s market, I expect that, like most years, we are seeing the sprouting of the spring market that we usually see in February.”

Every community in RAHB’s market area has its own localized market. Refer to the accompanying chart, and please ensure you contact a local REALTOR® for professional advice.

*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

RAHB-Comparison-Chart-Feb-2018

 

RAHB-Market-Activity-Feb-18

 

RAHB-Residential-Sales-Burlington-Feb-18

 

RAHB-Residential-Sales-Hamilton-Feb-18