25 October 2007

Hamilton Average Real Estate Price Update - Compare to Toronto

H270293_101_12
Beautiful 2 Storey, Close To Everything!

The average price of freehold residential properties sold during the month of September was $276,869.   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 September was $212,567. 

The average price increase for residential properties for 2007 from January to September compared to the previous year is 7.8 percent.

Toronto homes saw an average price increase to $399,013, up 9 percent recorded to the middle of September.

With the higher supply and continued strong demand, it is anticiated the resale housing market in Hamilton will remain strong and steady for the balance of the year.   We are also wondering what effect the "second" land transfer tax will have on potential "Toronto" home buyers (including investors) after their December 31st deadline - read more about the new Toronto Land Transfer Tax increase in our blog. 

SAMPLE Hamilton Home for Sale • 1 bath, 4 bdrm 2 story "Detached" - MLS® #H270293   $264,500 - Hamilton West

Hamilton West, Hamilton  -  This beautiful 2 stry home is in a great neighbourhood close to shopping, schools, churches, rec centres and the Locke St. shopping area. Relax in the 3 season sunroom or on the large front porch shaded with large awnings! New stucco exterior (July/07). Hardwood under carpet on main level.   Includes: Fridge, Stove, Dishwasher, Shed, All window blinds & some curtains.

click for Property information or view other Hamilton area homes for comparison.

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# Ontario Mortgage said:

do you think this kind of increase in sales will continue now that the land transfer tax has been approved?..

26 October 07 at 11:43 AM
# Sutton Realty said:

I was surprised I did not get a ton of calls the first day the new Toronto Land Transfer Tax was announced ... but as things have settled my phone has started to ring from my Toronto office .....  and you can start to feel the panic for the December 31st deadline.

Do I think this is going to help the outskirt areas like Hamilton ... probably so ... but I don't think we'll see the impact until after January.  

27 October 07 at 12:45 AM

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