Hamilton home prices continue slide from spring
Median price of homes sold in September was still 7 per cent higher than September 2016
Hamilton home prices continued to slide in September from a high reached in April, according to numbers released Wednesday by the Realtors Association of Hamilton-Burlington.
The median price of a home sold in September was $466,500.
That's down about 13 per cent from the $535,000 median price of homes sold in April.
But it's still up about 7 per cent from September last year.
Condos led the year-over-year price growth — attached homes or condos sold for a median price of $365,000 last month, which was 10 per cent higher than September 2016.
Detached house prices were up about 5 per cent from the same month last year.
Sales were down in September. Home sales dropped 23 per cent from the same time last year.
In a press release, realtors association CEO George O'Neill highlighted the year-over-year price increase from last September. The numbers showed more homes for sale, but fewer sales and homes staying on the market longer.
"Listings are up, sales are down, properties are on the market for a longer period, yet the price drop many were expecting has not occurred," O'Neill said.
Some of the change in local market psychology began in April and May, after the provincial government stepped in with some measures aimed at cooling the housing market in Toronto and surrounding cities.