The Hamilton-Burlington area saw an 8.3 per cent increase in the average home's sale price in December compared to December 2011, according to the Realtors Association of Hamilton Burlington (RAHB).

While prices may be up, the RAHB report also indicated that the number of residential sales in December 2012 was down by 11.5 per cent compared to December 2011.

"The month of December was very much like the previous few months," said RAHB CEO Ross Godsoe in a release, "with fewer listings and sales than last year and also with an increase in average sale price."

In Hamilton, the average residential home's sale price in 2011 was $269, 817. In 2012, that number rose to $281,643, according to the RAHB.

Fewer homes may be selling, but those that do are spending less time on the market. The same report found that residential listings in Hamilton are on the market for an average of 53 days, six days less than last year.