HOT HAMILTON CONDO MARKET OUTPERFORMS DETACHED HOME SALES

HOT HAMILTON CONDO MARKET OUTPERFORMS DETACHED HOME SALES

20 percent more condos sold in September as sold in the same month in 2013

By Kelly Bennett, CBC News Posted: Oct 16, 2014 11:56 AM ET Last Updated: Oct 17, 2014 9:26 AM ET

One sector of Hamilton-Burlington’s hot housing market is outpacing even the region’s overall record-breaking sales growth so far in 2014: Condos and townhouses. Twenty percent more condos were sold in September than in the same month last year.

And September wasn’t an anomaly — condo sales have been up year-over-year all summer.

Consider that data collected by the Realtors Association of Hamilton and Burlington show condo sales (year over year) were up:
•    13 percent in August
•    23 percent in July
•    22 percent in June

Looking back at several months of data shows sales of condos in the region have gone up more this year than detached homes have, which have also been rising. The data suggests the hype from condo developers is not just about a housing style of the future, but one that is increasingly a popular option right now.