MEDIA RELEASE

 Low inventory of listings in Greater Hamilton, Burlington and outlying areas

 (February 6, 2012 - Hamilton, Ontario)  The REALTORS® Association of Hamilton-Burlington (RAHB) reported 819 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of January, representing a 10.8 per cent increase in sales over the same month last year.   RAHB also reported that 7.7 per cent fewer listings were taken in the month of January of this year compared to January of last year.

 Seasonally adjusted* sales of all property types were 3.3 per cent higher than January 2011, with the average sale price increasing 4.6 per cent for the month.  Seasonally adjusted numbers of new listings, however, were over 23 per cent down from the same month last year.

Seasonally Adjusted                                                                   Percentage change compared to

Residential  Only                                Jan/12             Dec/11         Nov/11            Oct/11             Sep/11    

 Actual listings were down in all categories for the month, with the biggest drop in the residential condominium market.  Month-end listing inventory was down from the same month last year in all categories as well.

 "The story for the month of January," said RAHB President Cameron Nolan, "is that while sales have edged up compared to last year, we are seeing significantly fewer listings than normal.  Our listing inventory is the lowest it has been in some time."

 Residential condominiums saw the biggest gain in sale price for a January, with an increase of 7.9 per cent in the average sale price and an 11 per cent increase in median price.

 The numbers for the month of January:

 All Property Types - Actual                                        2011                                    2012                     % change

 Residential Only - Actual

 Freehold Only - Actual

 Condominium Only - Actual

 Commercial - Actual

 Every community in RAHB's marketing area has their own localized residential market.  Please refer to the accompanying chart for residential market activities in select areas of RAHB's jurisdiction.

 *Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,500 real estate brokers and sales representatives from Hamilton, Burlington, and outlying areas. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. In addition, RAHB is an active participant in the Home Ownership Affordability Partnership (HOAP) and holds an annual auction in support of local charities. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca.  More information about RAHB is available at www.rahb.ca.                                         

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For further information, contact:

Cameron Nolan                                                             Valerie Webster

President, RAHB                                                            Communications Coordinator

Ph: 905.296.0757                                                          Ph: 905.529.8101 Ext. 294

E: president@rahb.ca                                                   E:  valeriew@rahb.ca