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Hamilton Real Estate Market Statistics for February 2020

 Friday, March 13, 2020     Kirsten McNamee     Local Hamilton Market Statistics

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The Real Estate Association of Hamilton-Burlington (RAHB) have released their February 2020 statistics. In this article we will review and summarize these statistics. It was reported that for February 2020, there were a total of 998 sales of residential properties within the RAHB market area.

Sales were up 30% compared to January 2020 and up 25.5% over February 2019. It was also reported that the average price of a residential property increased by 4.5% to $649,667. And that there was an increase of 15.5% from the same month last year. 

When we take a look at the above chart, Residential Market Activity for RAHB Areas, we can see that Stoney Creek had the second most number of sales with 106. It was also reported that there was an average sale price of $583,460. The area with the most number of sales for February 2020 was the Hamilton Mountain. With 150 sales for the month and with an average price of $542,382. To get a better idea of each area did for the month of February, we can take a look at the map below as it breaks down each area for us. 

average-residential-price-by-district-feb-2020

When we take a look at the map, Average Residential Price by District, we can clearly see that it illustrates each area in Hamilton. It shows us how many sales there were of residential properties and the average sale price for each district within the city. Sub areas to take note that had the highest number of sales were; 42, 50 and 51. 

Now let's review the areas that had the highest average property prices. The top 3 areas for the month of February 2020 were Ancaster, Flamborough and Dundas. The average price of a residential property in Ancaster was $866,101 and this area reported a total of 55 properties sold. Flamborough had an average price of $868,929, with a total of 26 sales. And Dundas saw an average property price of $740,538 with a total of 17 sales. Now let's turn out attention to the chart below and review the comparisons to February 2019 for the Hamilton Real Estate Market. 

hamilton-residential-table-feb-2020

Our last chart to look at today is the, Hamilton Residential Table. It shows us that there was a 27% increase in sales activity and 664 sales. And there were a reported 894 new listings, that's an 11% increase compared to the same time last year. Hamilton saw a 14% increase in the average price of a residential property to $588,817.

And it was also reported that the number of days a property is on market was 24.2 days. That's 9.9 days less than the same time last year. But what else can we learn from all these statistics and what do they mean? Read more below about RAHB statistics for February 2020. 

RAHB Statistics for February 2020 

In February 2020 there were a total of 998 sales of residential properties within the RAHB market area. We saw sales increase by 30% over the last month and there was an increase of 25.5% compared to February 2019. We also need to note that the average price of a residential property, which increased to $646,667. That's an increase of 4.5% when compared to the same month last year. 

It was also reported that the number of sales for single family properties increased by 27%. And the average sale price of these properties increased by 16%. Townhouse sales saw a 21.2% increase with an average sale price increasing by 19.4% to $584,944. And when it comes to Apartment-Style property sales, they saw an increase of 19.8%. 

"The RAHB market is quite active with a significant increase in number of sales compared to last month and last year. We experienced similar activity at the beginning of 2016, which was on of our busiest markets on record. With the increase in average price and new listings, overall we are firmly in a seller's market; however, there is a greater demand at certain price points - such as below $600,000" - RAHB President Kathy Della-Nebbia

For More Information About These Statistics 

If you're looking for a more in-depth matrix of these statistics, please refer to Hamilton Real Estate Statistics for February 2020

Contact a Sales Representative at Judy Marsales 

Have questions about these January 2020 statistics? You can contact one of our sales representatives at any of our three locations. And if you're curious about how much your home is worth, try our What's My Home Worth calculator now. We look forward to working with you and helping you find the property you've been dreaming of.


Stay Calm and Plan

 Tuesday, March 3, 2020     Judy Marsales      General Real Estate Advice

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Maintaining Perspective

The current economic volatility identified by the stock market downturn or the consent worry expressed in the media about the potential virus spread. Or the interruption of supply management due to protests, has many people very concerned about the impact on housing values.  

It is understandable to be concerned, especially when the housing market has enjoyed almost two decades of increasing values. However, it is important to maintain a perspective. To stay calm and to build your financial plan with some potential for variance. To this point, it is extremely important to deal with the facts and not the headlines.

Your Source of Information Matters 

Social media is a wonderful source of information and wide contact with the world. However, it can also create anxiety where the information may not be relevant to the location. What are your plans? Are you a Baby Boomer who is thinking about downsizing or possibly moving in with family? Multiple generation living is becoming very popular for many different reasons.

Are you a first time home buyer who is concerned about affordability? Or are you a homeowner who is thinking about a renovation or an addition to your current home? The house you live in is your home and should be enjoyed to the best of your ability. Yes, the value may be subject to change depending on the market at any given time. But the home will keep you warm and comfortable.

Contact Us Today 

The key to reducing your stress is to have a plan based on sound information. We offer an “opinion of value” at no cost to give you the facts and help you make well informed decisions. Call or email us anytime, we are here to help you enjoy your home and support your plans. 


Real Estate Chatter

 Wednesday, February 26, 2020     Judy Marsales      General Real Estate Advice

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What are your plans this year?

Are you often out at a function and someone asks you what your plans are; holidays, work, about your current home or lifestyle? Depending on your demographic your discussion about house plans could range from how you are budgeting to the purchase of your first home. And for some it could mean thoughts about downsizing or your consideration of a retirement plan. Generally the one area in common during the discussion will be the exposure to various platforms of “real estate chatter.”

Is that necessarily the best source of information? Our current broad base of information from various technology sources offers a very wide spectrum of knowledge to review. However, whole some of the information does project trends nationally or internationally, such as economic thoughts. Sometimes the information is not relevant to our local real estate market.

Real Estate Chatter with a Sales Representative 

Your best course of “real estate chatter,” is our hardworking and knowledgeable Sale Representatives. Who are working in the area, who know the local trends, neighbourhoods and who are very supportive of the community. These salespeople have all the latest statistics and data to answer your questions. And to provide a good base and advice for your important decisions.

I had the pleasure of hearing a wonderful presentation this week by Professor Marvin Ryder from McMaster University. He spoke so positivity about our region, regardless of some of the economic fears. Professor Ryder clearly stated that there is no evidence of a recession in the short term.

Contact us Today

Facts enhance your “real estate chatter” and can also relieve your anxiety about moving forward. We have all the data to help you make the best decision. Call us, text or email us, whichever form of communication works for you, we are here.


Hamilton Real Estate Market Statistics for January 2020

 Friday, February 14, 2020     Kirsten McNamee     Real Estate Trends

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The Real Estate Association of Hamilton-Burlington (RAHB) have released their January 2020 statistics. In this article we will review and summarize these statistics for you. It's always important to note the number of sales that there were in a month. For January 2020, there were a reported 692 sales of residential properties within the RAHB market area. 

It was reported that there was a 5% increase in sales compared to the same month last year. And there was an 18.3% increase over December 2019, it was also reported that the average price of residential properties increased by 11.9% from January 2019 to $617,496. 

In the above chart, Residential Market Activity for RAHB Areas, we can see that the area with the most sales of residential properties with a total of 111 sales, was the Hamilton Mountain. And with an average property price of $518,368. This is a clear increase in the average property price for the area when compared to the same time last year. 

Another area we can turn our attention to is Stoney Creek, which saw 89 sales of residential properties. With a reported average sale price of $591,600. We can now take a look at the map below and see a more details about each sub area in the Hamilton real estate market. 

average-residential-price-by-district-jan-2020

The above map, Average Residential Price by District, illustrates the average cost of a property in each individual area. This map also shows us how many residential properties were sold in January 2020. Sub areas to take note of that had the highest number of sales were, 16, 17, 42 and 51. 

Areas with the highest price of residential properties were Ancaster and Flamborough. Ancaster had an average residential property price of $762,957. Making it the most expensive area on our RAHB map and with a total of 42 sales. Flamborough had an average residential property price of $703,324 and with a total of 17 sales. Let's now take a look at the chart below and learn more about the Hamilton Residential Table. 

hamilton-residential-table-jan-2020

Our last chart, Hamilton Residential Table, shows us that there was a 15% increase in sales compared to January 2019. And that there were a total of 485 sales in the Hamilton area with 733 new listings. However, there was a 13% decrease over January 2019 but that we also saw a 13% increase in the average cost of a residential property to $562,235. 

We can also take a look at the numbers of days a property was on the market. The average days for January 2020 decreased to 34.1 days, that's 7.9 days less than the same time last year. These statistics are always helpful when we want to better understand the real estate market. 

RAHB Statistics for January 2020 

In January 2020 there were a reported 692 sales of residential properties. And it was reported that sales were up by 5% over the same time last year. With an 18.3% increase in sales over December 2019. And it was reported that the average price of a properties within the RAHB market area was up by 11.9% to $617,496.

The number of sales for a single family property saw an increase of 10% compared to January 2019. And the average price of a family property increased by 9.4% in January 2020. Townhome sales activity saw a decrease of 6.2% with the average price increasing by 10.8% to $518,361. And finally, apartment-style properties also saw a decrease in sales by 1.4% but saw an increase in the average price by 9.6%. 

"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. 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." - RAHB President Kathy Della-Nebbia 

For More Information About These Statistics 

If you're looking for a more in-depth matrix of these statistics, please refer to RAHB's Hamilton Real Estate Statistics for January 2020

Contact a Sales Representative at Judy Marsales 

Have questions about these January 2020 statistics? You can contact one of our sales representatives at any of our three locations today and they would be happy to help you. And if you've been wondering what your home is worth, you can try our What's My Home Worth calculator and find out. 


Hamilton Real Estate Market Statistics for December 2019

 Thursday, January 9, 2020     Kirsten McNamee     Real Estate Trends

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The Real Estate Association of Hamilton-Burlington (RAHB) have released their December 2019 real estate statistics. Today we will review and summarize these stats for you. There were a reported 585 sales of residential properties located in the RAHB market area. 

In December 2019 it was reported that sales were up 3.9% over December 2018. However, sales were down when compared to both November and October 2019. It was also reported that the average price for a residential property increased by 7.6% from December 2018 to $581,566. Let's now take a look at the above chart, Residential Market Activity for RAHB Areas

We can see that in the Hamilton area, the Hamilton Mountain once again takes the lead with the highest number of sales with a total of 99 for the month of December 2019. The area also reported an average property price of $528,333 which is an increase when compared to the same time last year. The next notable area that we need to mention that also had a high number of sales was Stoney Creek, with a total of 66 sales of residential properties. And with the average price of a property of $539,885. We can now take a look at the map below and see each area in Hamilton. 

average-residential-price-by-district-dec-2019

The above map, Average Residential Price by District, illustrates the average cost of a residential property in each individual area in Hamilton. It also shows us how many residential properties were sold in December 2019. Areas to note that had the most number of sales were 16, 42, 51 and 53. 

The areas with the highest average price of a residential property were Falmborough and Ancaster. Flamborough's average cost of a property was reported at $839,845. And Ancaster saw an average price of $720,342. Take a look at your area and you can get an idea of what a property sold for. Now we can turn our attention to the chart, Hamilton Residential Table, and get a look at the Hamilton Real Estate Market for December 2019. 

hamilton-residential-table-dec-20192

Finally we can take a look at the Hamilton Residential Table, it becomes clear that Hamilton saw an increase in sales compared to the same time last year. There was an 11% increase with 425 sales of residential properties. And there were a reported 334 new listings, with a 2% decrease from the same time last year. However, there was an 8% increase in the average price of a property to $531,283. 

We can also take note that properties in the Hamilton area in December remained on the market for an average of 35.1 days. That's 6.3 days less than the same time last year. The numbers you see in this report are very common for this time of year, keep reading to learn more about why the market looks this way during December. 

RAHB Statistics for December 2019 

There were 585 sales of residential properties reported in December 2019. With the average cost of a residential property seeing an increase of 7.9% from December 2018 to $581,566. And it was reported that sales were up 3.9% over December 2018. However, when we compared these numbers to November and October 2019 we see a decrease. 

The number of sales for a single family property within the entire RAHB area market saw an increase of 6.8%, with the average sales price increasing by 8.23%. There was also a reported decrease in the number of Townhome sales across the entire RAHB area by 7.6% from December 2018. With the average price of a Townhome seeing an increase of 1.4% to $502,981. Finally it was reported that the Apartment-Style properties saw an increase of 14.8% over the same time last year. With their average price increasing by 10.2%. 

"With the holidays and cold weather, sales tend to dip in December when compared to the previous months. It's a trend we see almost every year. A decrease in new listings and an increase in sales can equal less inventory on the market. With increased competition for the properties available, this looks to be an opportune time to sell your property." - RAHB President Kathy Della-Nebbia. 

For More Information About These Statistics 

If you are looking for a more in-depth matrix of these statistics, please refer to RAHB's Hamilton Real Estate Statistics for December 2019

Contact a Sales Representative at Judy Marsales 

If you have any questions or if you want to contact one of our sale representatives you can do so now or later, whatever work best. They will be happy to answer your questions and they would be happy to go over these statistics with you. And if you've been wondering what your home is worth, give our What's My Home Worth calculator a try now.