burlington Archives - Rick David Real Estate

Low Inventory Going Into Spring Market

February 4, 2016 By Rick David Leave a Comment

(February 4, 2016 – Hamilton, Ontario) The REALTORS^® Association of Hamilton-Burlington (RAHB) reported 779 sales were processed through the RAHB Multiple Listing Service^® (MLS^®) System in January. Sales were 9.3 per cent higher than the same month last year and four per cent higher than the 10-year average.

There were 1,248 properties listed in January, a decrease of 14.9 per cent compared to January of last year, and the lowest number of listings taken in a January for the last 10 years.

“Last month’s sales were like the weather in January – warmer than usual,” said RAHB CEO George O’Neill. “When you put higher than average sales with the lowest number of new listings in 10 years, you get a continued seller’s market to start the year. Currently there is less than three months of listing inventory to move forward toward the spring market.”

Seasonally adjusted* sales of residential properties were 12.3 per cent higher than the same month last year, with the average sale price up 7.5 per cent for the month. Seasonally adjusted numbers of new listings were 11.6 per cent lower than January of 2015.

Seasonally adjusted data for residential properties for the month of January, 2016:

Actual overall residential sales of 735 units were 7.8 per cent higher than the same month last year. Residential freehold sales were 9.2 per cent higher than January of 2015 while sales in the condominium market increased by less than one per cent.

The average price of freehold properties showed an increase of 8.6 per cent compared to January of last year; the average sale price in the condominium market increased by 1.3 per cent when compared to the same period.

The average sale price is based on the total dollar volume of all properties sold by RAHB members. Average sale price information 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 area or property.

The average days on market increased from 46 to 49 days in the freehold market and decreased from 51 to 50 days in the condominium market when compared to the same month the previous year.

“It is always advisable to use the services of a REALTOR^® when you are listing or selling a home,” added O’Neill, “but it’s especially important in a prolonged seller’s market such as we are experiencing. REALTORS^® can help home sellers price their homes appropriately for the market, and help home buyers compare and pay a fair market value for their new home.”

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart.

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

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Low Inventory Going Into Spring Market

Seller’s Market to Continue in 2016

February 4, 2016 By Rick David Leave a Comment

(January 29, 2016 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) expects to see much the same real estate market in 2016 as in 2015.

“Continued low interest rates, a favourable employment outlook and a continuing low inflation rate bode well for the real estate market,” said RAHB CEO George O’Neill. “The same factors that contributed to the strong market over the past few years should continue to have a positive influence in the coming year.”

The high cost of housing in the GTA will continue to drive first-time buyers and young families out of the GTA, and the Hamilton-Burlington market continues to offer attractive alternatives for home buyers. With expanded GO service throughout the region, it will be easier to work in Toronto and live in communities south-west. A strong culture supporting entrepreneurs has also proven to attract new residents to the area.

The new mortgage rules coming into effect next month will have a small impact on some of the more expensive areas of the market, but the graduated nature of the new down payment requirements is expected to minimize this impact for most of the Hamilton-Burlington market.

For the coming year, RAHB expects to see 20,000 residential listings, 15,000 residential sales and an increase in average sale price of about four per cent. The sellers’ market will continue.

Results from 2015 show that all property types listings and overall sales increased over the previous year, with the average sale price up by 8.3 per cent. Total dollar volume from the sale of all property types was $7.378 billion, a 20 per cent increase over 2014.

The residential market saw similar increases over the previous year, with new listings up by 6.1 per cent, sales up by 11 per cent and the average sale price up 8.9 per cent over 2014. Average days on market dropped from 39 to 34 days in 2015.

The strong seller’s market from 2014 continued throughout 2015, with all-time sales records broken in April, then again in May and again in June. Five monthly sales records were broken through the last months of the year.

While the average sale price of residential listings showed an 8.9 per cent increase over 2014, the average remained relatively stable throughout 2015.

“We saw a jump in average sale price early in the year, and since then the average price has been pretty constant. It looked as though we kept seeing big increases every month, but that was only in comparison to the previous year,” noted O’Neill. “There’s no doubt we’ve seen an increase over last year, but we didn’t see big changes from month to month throughout the year.”

O’Neill cautioned home sellers and buyers about using the RAHB average sale price as an indicator of the price of their own home or one to purchase. “Every neighbourhood in RAHB’s market area is different,” said O’Neill, “and each has its own characteristics and influences on price. I highly recommend buyers and sellers use the services of a local professional – a RAHB REALTOR® – when they are buying or selling a home.”

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying charts for residential market activity in select areas in RAHB’s jurisdiction.

Original article –

Seller’s Market to Continue in 2016

Fifth straight month for record sales

January 6, 2016 By Rick David Leave a Comment

(January 6, 2016 – Hamilton, Ontario) The REALTORS^® Association of Hamilton-Burlington (RAHB) reported 802 sales were processed through the RAHB Multiple Listing Service^® (MLS^®) System in December of 2015. Sales were 1.3 per cent higher than the same month the previous year, 17.6 per cent higher than the 10-year average, and were a new record for the month of December. This is the fifth month in a row where the record for monthly sales has been broken.

“It has clearly been another exceptional month for real estate sales in the RAHB market area,” said RAHB CEO George O’Neill. “December sales are always among the lowest of the year because of the holidays and the weather, but this year’s sales were the highest ever for the month. It seems an appropriate way to end a year which saw so many previous sales records fall.”

There were 679 properties listed in December, a decrease of 3.4 per cent compared to December of the previous year.

Seasonally adjusted* sales of residential properties were 2.8 per cent higher than the same month of the previous year, with the average sale price up 9.1 per cent for the month. Seasonally adjusted numbers of new listings were virtually the same as the same month the year before.

Seasonally adjusted data for residential properties for the month of December, 2015:

Actual overall residential sales of 752 units were 1.9 per cent higher than the same month the year previous. Residential freehold sales were 3.2 per cent higher than the previous December while sales in the condominium market decreased by 3.4 per cent.

The average price of freehold properties showed an increase of 7.3 per cent compared to the same month the previous year; the average sale price in the condominium market increased by 18.8 per cent when compared to the same period.

The average days on market decreased from 45 to 41 days in the freehold market and from 53 to 36 days in the condominium market when compared to the same month the previous year.

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart.

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

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Fifth straight month for record sales

Strong sales continue in October

November 5, 2015 By Rick David Leave a Comment

(November 5, 2015 – Hamilton, Ontario) The REALTORS^® Association of Hamilton-Burlington (RAHB) reported 1,421 sales were processed through the RAHB Multiple Listing Service^® (MLS^®) System in October. Sales were 13 per cent higher than the same month last year, 25.8 per cent higher than the 10-year average, and were a record for the month of October. This is the third month in a row where records for monthly sales have been broken.

There were 1,811 properties listed in October, a decrease of 1.4 per cent compared to October of last year.

“The Fall real estate market just keeps going in our area,” said RAHB CEO George O’Neill. “October is often a good month for sales, but it’s not usually this good.”

Seasonally adjusted* sales of residential properties were 18.9 per cent higher than the same month of the previous year, with the average sale price up 6.8 per cent for the month. Seasonally adjusted numbers of new listings were 1.7 per cent higher than the same month the year prior.

Seasonally adjusted data for residential properties for the month of October, 2015:

Actual overall residential sales of 1,363 units were 12.9 per cent higher than the same month last year. Residential freehold sales were 12.6 per cent higher than last October while sales in the condominium market increased by 14.3 per cent.

The average price of freehold properties showed an increase of 9.3 per cent compared to the same month the previous year; the average sale price in the condominium market increased by 5.7 per cent when compared to the same period.

“Listing inventory is still down across the board,” noted O’Neill. “Our sales-to-listings ratio is still firmly in the seller’s market range in the residential market. Inventory in the condominium market is particularly tight, with only a month and half’s inventory left.”

The average days on market decreased from 41 to 35 days in the freehold market and from 38 to 35 days in the condominium market when compared to the same month the previous year.

Year to date, sales are 11.3 per cent higher compared to the same period last year; listings are 6.2 per cent higher than last year and the average sale price is 8.4 per cent higher for the period.

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.

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

Source –

Strong sales continue in October

Young Professionals: IT entrepreneur focused on where the industry is headed

August 6, 2015 By Richard David Leave a Comment

Name: Ryan Barichello
Age: 31

Position: President, LinxSmart (a business application company) and SOAP Vault (a software-as-a-service company)

Job description: Aside from operating both, I help solve business problems with technical solutions. All of LinxSmart’s business app clients have been through planning and consulting to determine how we can solve problems in their unique business operations using web and mobile technologies.

Is this the job you thought you’d be doing?

In some way, shape or form — yes. I’ve really only ever been interested in pursuing a career as an entrepreneur, and business apps happened to be the vehicle.

Advice to others on launching a career:

Try to understand where your industry of interest is heading in the next few years. I wouldn’t suggest starting a career in an industry that’s in its early stages of disruption by a completely different business model (there is a lot of this happening right now).

Roots: Born and raised in Ancaster, and now resides in Hamilton.

Twitter handle: @linxsmartinc

iPhone, Android or BB? Android

Recent Tweet or FB update: Next time you’re cleaning a head of iceberg lettuce, try “Kali-ma-ing” the core out, Indiana Jones Temple of Doom-style. It’s pretty fun.

Networks: Festitalia Hamilton board of directors, Canadian Italian Business Professionals Association, Software Hamilton, Stoney Creek Chamber of Commerce, Burlington Chamber of Commerce, Young Professionals Network

Favourite restaurant in the downtown: Pho Dau Bo

Best feature of life in Hamilton:

For those starting out, there are so many events and opportunities to connect and grow your young, fledgling business.

What would make Hamilton a better city?

It’s great to see Hamilton on the upswing. The ongoing progress of the downtown rejuvenation should continue to attract young, talented and creative minds.

Contacts: ryan@linxsmart.com; linxsmart.com

Quote: “Hamilton is full of so many amazing and ambitious young professionals, I’m very grateful for being among them.”

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Young Professionals: IT entrepreneur focused on where the industry is headed

Fall Already?

August 4, 2015 By Richard David Leave a Comment

by Martin and Sean Simons, Partners
Wenex Technologies

It seems like only yesterday we were looking with anticipation to summer and all the warm weather activities it brings and now it’s quickly becoming a fading memory. How time flies and once again, it’s the time of the year for businesses to start planning the fall season and holiday advertising. The Fall marketing season seems to start earlier and earlier every year and many would agree that businesses of all kinds are seeing opportunities to capitalize on holiday spending habits by consumers much earlier than the actual holidays. Now that Thanksgiving, Halloween and Christmas are looming, it’s a wide open playing field for creative advertising. This not only encompasses retail businesses but extends into the service industry as well as they prepare for the holidays. Many businesses are planning events or specials for the holidays, so now is an opportune time to promote them and reach out to consumers.

As many member businesses begin to shift into full holiday mode, what could be a better time to consider an ad on the Chamber of Commerce web site? It’s an excellent way to reach out the community at large and introduce them to what you have to offer. This year’s web statistics for the first half of 2015 show that there were approximately 4600 visitors to the Chamber web site and projections are for close to 10,000 for the year. So far 65% of those were new visitors while 35% were returning visitors. The majority of this traffic comes from users in the Stoney Creek, Hamilton, and Burlington areas.

The Chamber of Commerce web site is constantly being updated with news, upcoming events, business profiles and articles. The Community Events section that was added last year has been given more attention this year to augment the Chamber Upcoming Events section in an effort to keep the public informed of the many events taking place in the area. The Chamber social media presence has seen more activity on its Twitter and Facebook accounts, which helps to drive even more traffic to the web site. The changing dynamic of the site represents a tremendous challenge and an opportunity to reach out and provide more visibility to the community and thus prospective customers.

The Chamber of Commerce web site advertising rates are some of the most affordable of its type. Chamber ads may be purchased on a month-to-month basis or blocks of multiple months at a time. If you want to take advantage of the holiday exposure you can purchase a Holiday focused ad, then adapt your seasonal message to other time-based promotions, such as Valentine’s Day, Easter, etc. specials or revert to another message afterwards. Once an advertising slot is purchased there is no additional charge to change your ad of the same size at any time.

We offer design services if you’d like to customize your existing ad to incorporate a holiday and beyond message or if you don’t have an ad at all, we can create one for you. Also, an added benefit is that your ad can link to your business web site where you can really show off what you have to offer.

Feel free to contact the Chamber Office at 905-664-4000 for details or email us at admin@chamberstoneycreek.com.

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Fall Already?

Record Sales – Again

July 7, 2015 By Rick David Leave a Comment

(July 6, 2015 – Hamilton, Ontario) For the third month in a row, the REALTORS^® Association of Hamilton-Burlington (RAHB) reported record breaking sales in the Greater Hamilton, Burlington and outlying areas. June’s 2062 property sales processed through the RAHB Multiple Listing Service^® (MLS^®) system smashed the record of 1810 sales set just last month.

June sales were 31.2 per cent higher compared to June of last year, and a whopping 43 per cent above the historical average for the month.

There were 2,526 properties listed in June, an increase of 12.9 per cent compared to the same month the year prior. However, the increase in sales left the end-of-month listing inventory 12.2 per cent lower than last June.

“The real estate market exploded in June,” said RAHB CEO Ross Godsoe. “To break the old record – set just last month – by that much and for the second month in a row, shows just how active it was. We saw more areas throughout Hamilton in particular where homes sold at or above list price as an average – not just in isolated cases.”

Seasonally adjusted* sales of residential properties were 22.3 per cent higher than the same month of the previous year, with the average sale price up 9.5 per cent for the month. Seasonally adjusted numbers of new listings were 6.5 per cent higher than the same month the year prior.

Seasonally adjusted data for residential properties for the month of June, 2015:

Actual overall residential sales of 1,985 units were 30.2 per cent higher than the previous year at the same time and also a new record for residential sales. Residential freehold sales were 29.6 per cent higher than last June while sales in the condominium market saw an increase of 32.4 per cent.

“Inventory is extremely low,” added Godsoe. “We are deep into a sellers’ market right now. The two main indicators are the sales-to-listing ratio, which is high at almost 85 per cent in the residential market, and months of inventory. Right now we have less than two months inventory. That is extremely low when you consider that a balanced market has five to eight months of inventory.”

The average price of freehold properties showed an increase of 10.4 per cent compared to the same month the previous year; the average sale price in the condominium market increased by 8.2 per cent when compared to the same period.

The average sale price is based on the total dollar volume of all properties sold in the RAHB market area. Average sale price information 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.

The average days on market decreased from 35 to 29 days in the freehold market and from 37 to 30 days in the condominium market when compared to the same month the previous year.

Year to date, sales are 14 per cent higher compared to the same period last year; listings are 7.1 per cent higher than last year and the average sale price is 8.4 per cent higher for the period.

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.

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

From:

Record Sales – Again

Spring Market Blossoming

April 2, 2015 By Rick David Leave a Comment

(April 2, 2015 – Hamilton, Ontario) The REALTORS^® Association of Hamilton-Burlington (RAHB) reported 1397 property sales processed through the RAHB Multiple Listing Service^® (MLS^®) system in March. This represents a 10.9 per cent increase in sales compared to March of last year.

There were 2170 properties listed in February, an increase of 14.2 per cent compared to the same month the year prior. End-of-month listing inventory was 7.7 per cent lower than last March.

“The spring market is definitely upon us,” said RAHB CEO Ross Godsoe. “In March we saw increases in listings and sales over last year, as well as in comparison to the average for the last ten years.”

Seasonally adjusted* sales of residential properties were 10.9 per cent higher than the same month of the previous year, with the average sale price up 9.6 per cent for the month. Seasonally adjusted numbers of new listings were 1.9 per cent higher than the same month the year prior.

Seasonally adjusted data for residential properties for the month of March, 2015:

Actual overall residential sales were 11.1 per cent higher than the previous year at the same time. Residential freehold sales were 11.9 per cent higher than last March while sales in the condominium market saw an increase of eight per cent.

“It’s still a tight market in the Greater Hamilton-Burlington market,” added Godsoe. “While we saw more listings come on the market in March, we still have a relatively low inventory of listings. The seller’s market continues in our area.”

The average price of freehold properties showed an increase of 7.6 per cent compared to the same month the previous year; the average sale price in the condominium market increased by 7.4 per cent when compared to the same period.

The average days on market decreased from 37 to 34 days in the freehold market and from 39 to 34 days in the condominium market when compared to the same month the previous year.

Year to date, sales are 6.8 per cent higher compared to the same quarter last year; listings are 5.8 per cent higher than last year and the average sale price is 9.2 per cent higher for the period.

Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.

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

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Spring Market Blossoming

Public Consultation: Mount Nemo Plateau Heritage Conservation District Study – Feb 17

January 28, 2015 By Leave a Comment

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Public Consultation: Mount Nemo Plateau Heritage Conservation District Study – Feb 17

City of Burlington provides update on city manager recruitment

January 27, 2015 By Leave a Comment

Taken from:

City of Burlington provides update on city manager recruitment

Low Inventory Going Into Spring Market

Seller’s Market to Continue in 2016

Fifth straight month for record sales

Strong sales continue in October

Young Professionals: IT entrepreneur focused on where the industry is headed

Fall Already?

Record Sales – Again

Spring Market Blossoming

Public Consultation: Mount Nemo Plateau Heritage Conservation District Study – Feb 17

City of Burlington provides update on city manager recruitment

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