Local home sales are down significantly during the COVID-19 pandemic, but the average sale price continues to rise. The Realtor’s Association of Hamilton-Burlington has released its report for May and confirms the sale of 852 residential properties last month.
That’s down 42 per cent compared with May 2019, but it’s a 43 per cent increase when compared to April of 2020. As for prices, they averaged more than $655,000 last month, a 10 per cent increase from last year.
RAHB president Kathy Della-Nebbia says “new listings and sales are understandably down” due to the novel coronavirus, but she adds that a balance of buyers and sellers is holding the average sale price “fairly steady.” [ Sign up for our Health IQ newsletter for the latest