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House sales in Hamilton and Burlington skyrocketed in April. The Realtors association of Hamilton-Burlington reported 1,770 sales in April which is 7.5 per cent higher than April 2016.
The average residential sale price in Hamilton was $541,720 while the average number of days on the market decreased from 23 in April 2016 to 14 days in April 2017.
Freeholds average sale price in Hamilton Ontario $574,829. Sale price of freehold homes increased over a year
Condominium or condos average sale price from April 2017 stands at $370,621 which is an increase of 25.1%
As seen on the above chart Hamilton area house sales continue to climb at record highs. Areas as Hamilton East, Hamilton Mountain Ancaster or Stoney Creek report greatest year-over-year increase in house prices in many years. However, in Toronto homes sales dropped in April compared to a year before though property prices continued to climb. It is hard to say if the dropped in house sales in Toronto is a sign of homebuyers reacting to the strong price growth at the begining of 2017 or if this was an impact of province 's new measures to cool a real estate market a bit.
Despite the fact that Toronto Real Estate Board reported that the total number of transactions in April slipped 3.2% the average price for all properties in Greater Toronto Area rose by 24.5%.
We strongly believe that Hamilton, Ancaster and Stoney Creek is still a great place to invest into real estate.