MARKET REPORT - JUNE 2021
Starting to cool for the summer? Unit sales yes, but prices not so much (yet?)
Posted: July 13, 2021 by Ron Hunter
The number of homes sold through the MLS ® System of the REALTORS ® Association of Hamilton-Burlington (RAHB) totaled 1,607 units in June 2021. This was an advance of nearly 10 per cent from June 2020.
Home sales were 14 per cent above the five-year average and 11 per cent above the 10-year average for the month of June.
On a year-to-date basis, home sales totaled a record 9,518 units over the first six months of the year. This was up sharply by 57 per cent from the same period in 2020.
“June’s home sales marked one of the strongest levels on record for this month. Year-over-year gains are expected to become more modest and may even be negative in the months ahead as we reach a crossover period where sales in 2020 roared back to life and sales this year are cooling off after a blistering pace,” said Donna Bacher, President of the REALTORS ® Association of Hamilton-Burlington. “With new listings only back around average levels this has done nothing to lift overall inventories from record lows. While market conditions remain historically tight with demand far outpacing supply, we are seeing average sale prices remain stable.”