Find Out What’s Happening in the Real Estate Market in Hamilton.
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 692 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January 2020. Sales are up 5 per cent over the same month last year, and up 18.3 per cent over December 2019. The average price for residential properties increased by 11.9 per cent from January 2019 to $617,496.
“Our market area experienced a reduction in activity and average price in December, as is the case for that typically slower month; however, we bounced back in January,” says RAHB President Kathy Della-Nebbia. “Buyers seem to be coming out early, so sellers shouldn’t feel the need to wait for the spring market to get a great value for their property. We expect the spring market will be strong with more competition between sellers, as many wait for the flowers to bloom to market their homes.”
The number of sales for single family properties within the entire RAHB market increased by 10 per cent compared to the same month last year, and the average sale price increased by 9.4 per cent. Townhouse sales activity across the entire RAHB market area decreased from January 2019 by 6.2 per cent, and the average townhouse sale price increased by 10.8 per cent to $518,361. Apartment-style property sales decreased by 1.4 per cent from January 2019, and the average price increased by 9.6 per cent.
“Although RAHB market statistics showed an overall increase in January 2020, certain segments of the market did not. For example, townhouse and apartment-style properties experienced a decrease in number of sales, and certain communities experienced a decrease in average price and/or number of sales – such as Glanbrook,” says RAHB CEO Carol Ann Burrell. “That’s why it is so important to work with a local RAHB REALTOR®, who has access to statistical resources to help you buy or sell your home.”
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Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.
*Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Call Team Bush Home Selling Team at 905-297-4885 to find out how much your property is worth!
To view a specific Market Report that will show you current Home Values and Sales Information for the Area you are interested in, click this link for real-time data of Current Home Sales including pricing and photos; Below is a link to your city’s home evaluation report or your “Market Report.” This report is generated by analyzing home value and sales information for your area and will provide you with important, real-time data on the state of your market.
View the Market Report for Hamilton at:
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You can trust that those you know that you refer to our Real Estate Team, will benefit from our Award-Winning Real Estate System PLUS you will also be helping the kids!