Posted Nov 5, 2008, 4:01 PM
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It's Hammer Time
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Join Date: Mar 2004
Location: Hamilton
Posts: 20,304
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Local housing sales drop 27 per cent
Average price falls 7.2 per cent
November 05, 2008
Meredith MacLeod
The Hamilton Spectator
It’s a good time to buy a home but maybe not such great news for sellers.
Total sales in Hamilton and Burlington dropped 27.3 per cent last month over the same month a year ago, according to figures released today by the Realtors Association of Hamilton-Burlington. The average price of freehold residential properties dropped 8.7 per cent to $268,805 and condominiums fell 7.2 per cent to $196,899.
At the same time, the total number of units (including residential properties, commercial properties, farmland and businesses) listed for sale in October was 1,849, which is 18.4 per cent more than were listed in October 2007.
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