Find Out What Happened in Real Estate in August!!!
The Hamilton Real Estate Market Trend Report brought to you by Team Bush Home Selling Team. Statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,272 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in August 2020. Sales are down 21.14 per cent over last month and up 12.7 per cent over August of last year. New listings are down 16.1 per cent over July 2020 and up 7.3 per cent over last August. The average price for residential properties was $694,690, which is up 0.24 per cent from last month and up 16.3 per cent from August 2019. The number of active listings for the month was down 18.6 per cent over last year.
The number of sales for single family properties within the entire RAHB market increased by 10.8 per cent compared to the same month last year, the number of new listings was up by 4.7 per cent over last year, and the average sale price increased by 19.9 per cent. Townhouse sales activity across the entire RAHB market area increased from August 2019 by 6.6 per cent, new listings were up 2.6 per cent, and the townhouse average sale price increased by 12.5 per cent to $583,762. Apartment-style property sales increased by 52.5 per cent from August 2019, new listings increased by 33.1 per cent, and the average price decreased by 0.4 per cent.
“As of July, open houses were permitted to continue and consumer confidence increased as the economy opened up; however, it doesn’t mean it’s business as usual,” says Della-Nebbia. “RAHB REALTORS® have worked hard over the last six months to ensure consumers were able to buy and sell properties, and utilized virtual technology and sanitary measures to combat COVID-19. If you are entering the market as either a buyer or seller, working with a local RAHB REALTOR® will help ensure your real estate transaction is both successful and safe.”
*Trends are calculated from data collected through RAHB’s MLS®
*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!
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