Local real estate has 'never seen this kind of activity'

It was a record-breaking April for the number of homes sold, as the booming real estate market in Hamilton and Burlington continues.

The local realtors board reported1,699 properties sold last month, whichbroke the record set in May 2014 of 1,660 sales.

The greater real estatemarket in Hamilton and Burlington "has never seen this kind of activity," said Ross Godsoe, CEO of the Realtors Association of Hamilton-Burlington.

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The median sale price for residential properties sold last month in the region was$380,000, up 11.1 per cent from April 2014.

Those 1,642 sales spent an average of 28 days on market, several days quicker than the 34 days on average it took last year.

Commercial real estate sales were up, too. There were 57 properties sold last month, up 27 per cent from April 2014's 45 properties.

Hot spots for price increases:

• The 25 homes sold in Flamboroughcarried an average price of $708,000 last month, up significantly from $485,028 a year ago. (Average prices tend to reflect general market trends but outlierexpensive or inexpensive saleson either end can skew the numbers for a particular month.)
• The average price for the84 homes sold in Ancasterwas$543,137, up 16 per cent from$468,324 ayear ago.
• The centre city also continued to be hot. The average price for 132 homes sold was$225,544, up 13 per cent from last April's $199,211.