Blog Category Archives: Local Hamilton Market Statistics

Real Estate Statistics for October 2023 

The REALTORS® Association of Hamilton-Burlington (RAHB), released their October 2023 real estate statistics recently. This report will review the statistics and summarize them so we can have a better understanding of the entire RAHB real estate market as well as the Hamilton real estate market and statistics.

RAHB reported that October 2023 had the highest level of supply and that they haven’t seen this level in almost a decade. Due to this gain, many buyers were able to have more options and flexibility when it came to properties they wanted to purchase. 

There were a total of 2,106 new listings in the entire RAHB real estate market area and a total of 653 sales. The sales to new listings ratio was relatively low at 31 percent. Because of the rise in new listings there was pressure on the inventory levels which saw an increase with a total of 3,145 in October 2023.

“Inventory levels are the highest reported since 2011, with nearly five months of supply available. The increase in supply is contributing to minor price decreases. As of October, the unadjusted Benchmark price was $829,100 nearly three per cent lower than last month and just slightly lower than levels reported last year at this time. Prices trended down across all property types. The smallest monthly price decline occurred in the apartment condominium sector.  Home prices continue to be higher than pre-pandemic pricing.” – RAHB 

Hamilton Real Estate Market – Residential Activity for October 2023 

In Hamilton there were a reported total of 408 sales of residential properties in October 2023, this was a decrease year-over-year of 12.4 percent. When it came to the number of new listings, Hamilton saw an increase of 29.2 percent year-over-year with a total of 1,244 new listings reported in October 2023. According to RAHB this was the slowest October in terms of sales since 2010, with year-to-dates sales seeing a decline of almost 13 percent. 

Inventory saw an increase of 28.1 percent in October 2023 with a total of 1,828 units. The average price of a residential property in the Hamilton real estate market was $789,040 – this was a very small decrease of only one percent compared to the same period last year. 

Since there were fewer sales combined with the increase in inventory, this gave prospective buyers more opportunity and also contributed to the rise over the last five months. This increase in supply had an effect on the price of a property and in October RAHB reported the benchmark price had decreased to $766,100. This drop in price was a four percent decrease when compared to the previous month and one percent lower than October 2022. Listed below are all of the property types, their benchmark prices and whether they saw an increase or decrease. 

• Detached → $816,300 -1% 
• Semi-Detached → $729,200 0%
• Row → $650,800 0%
• Apartment → $490,300 -6%

There was an increase in new listings across all property types in October 2023. However, when it came to the semi-detached properties listings were reported to have remained low. Listings in October remained lower than last year’s levels as well as the long term trends. When they compared the new listings to sales, it was clear that the ratio remained low for apartment type properties at 29 percent and 37 percent for semi-detached properties. 

“The recent gain in supply has provided more choices to prospective homebuyers. Increased supply is weighing on home prices across all property types. Detached, Semi-detached and Row properties all reported an unadjusted monthly benchmark price decline that exceeded three per cent. However, prices generally remained in line with levels reported last year. Apartment condominium benchmark prices reported a smaller monthly decline of less than one percent but are still more than six percent lower than levels reported last October.” – RAHB

Regional Summary for October 2023

In the Hamilton real estate market there was an increase in new listings when compared to the same time last year. The number of new listings increased in all regions and except in Dundas where levels remained about the same as last year. The sales activity was reported to have had a decline in most areas when compared to October 2022. However, areas such as Dundas, Hamilton West and Stoney Creek reported year-over-year gains. The sales to new listings ratio in the Hamilton region was reported to have been below 44 percent. 

Let’s take a closer look at Hamilton West where there were a total of 38 sales reported in October 2023. This was an increase of 18.8 percent compared to the same time period last year. When we look at the number of new listings we can see there were a total of 91, which is an increase of 8.3 percent compared to the previous year. Inventory levels in this area had a 16.7 percent increase, with a total of 154 in October 2023. The average price of a residential property in Hamilton West was reported to have risen by 14.3 percent and was $856,399. 

According to the report by the REALTORS® Association of Hamilton-Burlington, Dundas had an increase of 21.4 percent in sales with a total of 17. New listings in this area saw a decrease of 9.3 percent with a total of 39 new listings and a decrease in inventory of 22.1 percent. The average price of a residential property in Dundas saw a decrease of 3.3 percent and was reported to have been $892,882 in October 2023. 

Stoney Creek had a total of 71 sales reported in October 2023 – this was a decrease of 10.9 percent year-over-year. RAHB reported that there was a 54.2 percent rise in new listings with a total of 222 recorded. When it came to inventory in this area there were a total of 344 units and this was an increase of 48.9 percent compared to the previous year. Finally, the average price of a residential property in this area had a small decrease of only 4.7 percent and was reported to have been $793,059. We can now turn our attention to the map below and get an even better understanding of each area within the Hamilton real estate market. 

Average Residential Price by District 

The above map, Average Residential Price by District, illustrates the areas within the Hamilton real estate market. When we take a look at the map we can see that each sub area has its average price and whether or not that price saw an increase or decrease in October 2023. 

In the previous section we focused on Hamilton West, Stoney Creek and Dundas and we’ll do the same in this section. Since each area is divided up into sub areas, we’ll break those down and make it easier to understand by listing them below. 

Hamilton West had a total of 38 sales in October 2023 and an average residential property price of $856,399. This area comprises the sub areas; 10, 11 and 12. Let’s take a look at each of these areas and see what the average prices were and whether they saw any increases or decreases compared to the same time period last year. 

10 → $706,500 +1%

11 → $888,350 +22%

12 → $891,809 +14%

When we take a look at the area of Stoney Creek we can see that it had a total of 71 sales and a total of 222 new listings in October 2023. The number of new listings was one of the highest recorded coming in section to the Hamilton Mountain, which had a total of 272 new listings. Stoney Creek comprises the sub areas; 50, 51 and 52. Please see the list below that includes the average price of a residential property in this area and whether that price has had an increase or decrease in October 2023. 

50 → $853,996 -7%

51 → $734,658 -9%

51 → $1,055,250 N/A

Finally we’ll take a look at the area of Dundas, which had a total of 17 sales in October 2023 and a total of 39 new listings. Dundas is in the sub area 41, as you can clearly see on the above map. The average price of a residential property in this area was reported to have been $892,882 – this was a decrease of 3.3 percent compared to the previous year.

If you take a look at the map you might be able to find the area that you currently live in or an area you desire to move to. This can be a great tool when both learning about the real estate market and researching what area might be the most affordable. 

Summary of Statistics for the Hamilton-Burlington Real Estate Market  

To summarize, there were a total of 653 sales of residential properties in the entire RAHB real estate market area in October 2023. The REALTORS® Association of Hamilton-Burlington reported they saw the highest level of supply and that they haven’t seen this level in almost a decade. 

There were a total of 2,106 new listings in the entire RAHB real estate market area and the sales to new listings ratio was relatively low at 31 percent. Due to this fact there was a gain in inventory and therefore put pressure on the number of new listings causing inventory levels to increase, with a total of 3,145 in October 2023. According to RAHB, the average price of a residential property in the Hamilton real estate market saw a small decrease of only one percent and was $789,040.

“Higher lending rates are likely weighing on homeowners, with an increasing number of them choosing to list their home. While new listings have risen across all property types and price ranges, we are seeing larger inventory gains in the higher price points of the market.” – Nicolas von Bredow, President of RAHB.

For More Information About These Statistics 

For a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for October 2023.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage 

Do you have any questions about the Hamilton real estate market for October 2023? Please don't hesitate to contact one of our knowledgeable and professional sales representatives. Judy Marsales Real Estate Brokerage has three locations in the Hamilton area; Locke Street South, Westdale and Ancaster. 

If you’ve been wondering about what your home might be worth, please give our “What’s My Home Worth” calculator a try. All of us at Judy Marsales Real Estate Brokerage are looking forward to working with you and helping you to find the perfect home. 

Hamilton Real Estate Statistics for September 2023

The REALTORS® Association of Hamilton-Burlington (RAHB), recently released their September 2023 real estate statistics. In this report we will be reviewing the statistics and summarizing them, that way we can get a better understanding of the September 2023 Hamilton real estate statistics.

There were a reported 620 sales of residential real estate properties in September 2023 in the entire RAHB real estate market area. It was also reported that this had been the slowest level of activity since 2010. The RAHB real estate market area saw a decline of 18 percent when it came to sales but there was a surge in new listings. Due to this, the sales to new listings ratio was 30 percent, with a 19 percent increase in inventory – 12 percent higher than what it was in September 2022.  

“Inventory levels rose across all property types and price ranges. The sudden shift, coupled with easing sales, caused the months of supply to grow to nearly five months in September. This is up almost two whole months compared to August.“ – RAHB 

Hamilton Real Estate Market – Residential Activity and Prices 

In September 2023 the Hamilton real estate market saw a total of 373 sales of residential properties. This was a decrease of 501 sales compared to August 2023 and a 17 percent decline compared to the same period last year. As we mentioned in the previous section, RAHB reported that they haven't had sales this slow since 2010. 

New listings saw a significant increase of 320 more units than the same time period last year with a total of 1,286. The sales to new listings ratio in the Hamilton real estate market was a decrease of 29 percent, this factor caused the inventory levels to rise. RAHB reported that in the Hamilton real estate market the average price of a residential property was $776,819, that’s a decrease of 0.7 percent compared to the previous year. 

It should be noted that there was a rise in new listings for all property types which then caused the inventory levels to also increase. The most gains were seen in the apartment style properties when it came to this increase in inventory. Listed below are the benchmark prices for each property type and whether that price had an increase or decrease compared to the same time last year.

• Detached → $848,300 +2% 
• Semi-Detached → $757,000 +3% 
• Row → $673,500 +1%
• Apartment → $494,500 - 7% 

“The sudden shift in conditions is taking some pressure off home prices. The unadjusted benchmark price eased by one per cent compared to last month. Despite the monthly decline, prices remain one per cent higher than last September.” – RAHB 

Regional Summary for September 2023

The year-to-date sales and new listings in the Hamilton real estate market area saw a decline in all areas across the region. As previously mentioned, this then caused the inventory levels to increase when compared to the previous month. According to RAPHB, “the shift caused inventories to trend up over the last month. Despite it all, inventory levels remain below long-term trends in Flamborough, Dundas and Glanbrook.” 

Taking a closer look at Flamborough we can see that the average price of a residential property was $890,385. This was a decrease of 29.4 percent when compared to the same time last year. This area had a total of 13 sales reported in September 2023, which was a decrease of 13.3 percent year-over-year. However, there were 52 new listings and an inventory increase of 5.8 percent. 

Hamilton Mountain had the greatest number of sales compared to any other area in the real estate market. There was a decrease of 14.3 percent when it came to the number of residential sales with a total of 90 sales reported in September 2023. This area had the highest number of new listings with a total of 296, an increase of 27 percent compared to the same period last year. The average price of a residential property in this area was reported to be $752,639, only a small decrease of 0.9 percent compared to September 2022. 

The final residential area we’ll review in this section is the Dundas area. There was a quite a large 70 percent increase in sales with a total of 17 sales. Dundas also reported a total of 41 new listings, which was a slight decrease from the same time last year. Inventory levels in Dundas were reported to have seen a 13 percent decrease with a total of 47. Dundas however, does continue to see the levels of inventory remaining lower than they were this time last year. The average price of a residential property saw an increase of 13.5 percent and was reported to have been $1,087,316. Please note that this area had the highest increase in sales when we compared the increase in percentages to all other areas. 

Average Residential Price by District

The above map, Average Residential Price by District, illustrates each area within the Hamilton real estate market. By looking at the map we can see that each sub area has its average price and whether or not that price saw an increase or decrease in September 2023. 

Since we were focused on Dundas, Hamilton Mountain and Flamborough in the previous section of this report, we’ll continue that focus in this section. However, we’ll also focus on the Hamilton Centre since it covers quite a large area. Below you will find each of these areas with their respective sub areas and average prices in each area. Please also note that you can see whether those average prices saw an increase or decrease compared to September 2022. 

Hamilton Mountain had an average residential price of $752,639 and a total of 90 sales reported in September 2023. This area consists of the sub areas; 15, 16,17, 18. 25 and 26. Please see the list below to get a closer look at each sub areas average residential property price for September 2023. 

15 → $778,500 -1%

16 → $793,626 0% 

17 → $681,500 -8%

18 → $772,516 -4%

25 → $614,450 -20%

26 → $724,571 +24% 

Hamilton Centre had an average residential price of $560,541 and a total of 55 sales. There was an increase of 36 percent when it came to new listings, with a total of 185. This area consists of the sub areas; 13, 14, 20, 21 and 22. 

13 → $509,686 0% 

14 → $553,954 -1%

20 → $499,174 -10%

21 → $421,750 -22%

22 → $790,891 +29%

Flamborough consists of the sub areas 40, 43, 44 and 45 – the average price across all of these areas was $890,385 which was a decrease of 29.4 percent when compared to the same time last year. There were a total of 13 sales across all of these areas combined, this was a 13.3 percent decrease compared to the previous year. 

The final area we’ll review in this section will be Dundas, consisting of sub area 41 and having a total of 41 sales recorded in September 2023. Dundas had a total of 17 sales, which was an increase of 70 percent compared to the same time last year. In the previous section we mentioned that this area had the greatest sales increase by percentage at a 70 percent incresae. The average sale price in this area had an increase of 13.5 percent and was $1,084,316. 

Summary of Statistics for Hamilton – September 2023

In summary, we saw a total of 620 sales of residential properties in the entire RAHB real estate market area in September 2023. RAHB reported that this was the slowest level since 2010 and an 18 percent decline, with a surge in inventory. Therefore making the sales to new listings ratio 30 percent. 

The September benchmark price had a decrease and was $854,200, which is a one percent decrease. According to REHAB, “despite the monthly decrease, levels remain higher than the $838,300 reported last September and the $581,500 reported pre-pandemic.”

“Increases in lending rates have prompted prospective buyers to delay purchasing decisions. Lending rates may have sparked anxiety among existing homeowners, motivating them to list their properties. A surge in new listings, relative to sales, has led to a pronounced rise in overall inventory levels.” – Nicolas von Bredow, RAHB President.

For More Information About These Statistics 

For a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for September 2023.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage 

Do you have any questions about the statistics mentioned in this report? Please feel free to reach out to one of our many knowledgeable and experienced sales representatives. Clients can reach us at one of the following three locations in Westdale, Ancaster and Locke Street South. 

Have you been wondering about what your home might be worth? We have a helpful calculator called “What’s My Home Worth” that can help you find that answer. We look forward to meeting you soon and helping you to find the home of your dreams. 

Hamilton-Burlington Real Estate Market Statistics 

The REALTORS® Association of Hamilton-Burlington (RAHB), have released their August 2023 real estate statistics. In this report we will be reviewing those statistics and summarizing them so we can better understand the August real estate market.

According to the RAHB report, there were a total of 795 residential real estate sales in the entire RAHB real estate market area. This was a decrease of 11 percent, or 78 sales less than the same time last year when there were a reported 873 sales. RAHB also reported that while sales have improved in lower priced properties, they have not in properties in the $800,000 range and above. 

“Easing sales combined with relatively stable inventory levels caused the months of inventory to trend up to 2.9 months in August. Higher supply levels relative to sales activity likely weighed on home prices this month. In August, the benchmark price eased over levels reported last month, falling to $863,700, approximately $10,000 less than the previous month but still higher than the $857,900 reported in August 2022.” – RAHB 

Hamilton Real Estate Market – Residential Activity and Prices 

When it came to the number of sales and new listings in the Hamilton market, there were decreases in both. There were a reported 480 sales of residential properties in the Hamilton real estate market in August 2023. This was a decrease of 8.6 percent compared to August 2022, according to the report released by RAHB. In the Hamilton real estate market there were a total of 954 new listings reported in August 2023, this was a small decrease of 1.5 percent compared to the same time last year. 

The average price of a residential property was reported to have been $798,786 in August 2023. This was an increase of 2.3 percent compared to the same period last year. It was reported that the August inventory levels were higher than what they had been pre-pandemic. The total number of units in August was 1,381 – that’s a 2.3 percent decrease from the previous year. 

“With nearly three months of supply in August, levels remain comparable to last month and last year. Conditions are tighter than earlier in the year, a trend that has carried over from July. This is taking some pressure off home prices.” – RAHB

The unadjusted benchmark price was reported to have been $803,700, this was only a small decline of one percent compared to the same period last year. Even with the declines, prices continued to remain higher than what they were at the beginning of 2023. 

In the next section we’re going to look at is the Regional Summary, this will give us some insight into each area within the Hamilton real estate market in August 2023. Allowing us to see the total sales, average price, new listings and more in each area. 

Regional Summary for August 2023

RAHB reported that all areas within the Hamilton real estate market saw declines in both year-to-date sales and new listings. Hamilton Centre and Hamilton East had the highest decline in both those sectors. 

“All regions across Hamilton reported a yearly decline in year-to-date sales and new listings. Hamilton East and Hamilton Centre reported the highest pullbacks in both activities.Hamilton Centre, Hamilton West, Flamborough, Ancaster, and Stoney Creek posted year-over-year inventory gains in August. Conditions are not as tight as they were in 2022. However, Dundas and Waterdown face the tightest conditions with under two months of inventory” – RAHB 

In Hamilton East there were a total of 46 sales of residential properties reported in August 2023. This was a decrease of 37.8 percent when compared to the same time last year. There were a total of 90 new listings in this area, only a 13.5 percent decrease compared to the previous year. When it came to the average price of a residential property in this area, RAHB reported that to be $687,320 – this was an increase of 12.4 percent compared to the same period last year. 

RAHB reported that Hamilton Centre had a total of 64 sales of residential properties, this was a decrease of 15.8 percent compared to the previous year. There were a total of 117 new listings in this area, which was a decrease of 20.9 percent when compared to August 2022. The average price of a residential property was reported to have decreased by 4.4 percent to $514,633. 

Finally, it’s important to note the Hamilton Mountain, as it had the greatest number of sales and new listings in the entire Hamilton real estate market. The total number of sales was 114 in August 2023 – a slight decrease of 8.1 percent compared to the previous year. There were 207 new listings in this area, this was a decrease of 5 percent compared to the previous year. The average price of a residential property saw an increase of 3.7 percent and was $770,467.

We’re now going to turn our attention to the map below, Average Residential Price by District, and get an even better understanding of the Hamilton real estate market. This map will illustrate each area and sub areas, showing us their average residential property price. 

Average Residential Price by District 

The above map, Average Residential Price by District, allows us to get a better understanding of the residential property prices in each area. The Hamilton real estate market area is and by what percentage it has either increased or decreased. 

Hamilton Centre had a total of 64 sales of residential properties and an average residential property price of $514,633. This residential area is made up of the sub areas; 13, 14, 20, 21 and 22. Listed below are these areas showing their average property price and whether that price saw an increase or decrease in August 2023, compared to the same time period last year. 

13 → $551,990 +19% 

14 → $467,326 -4% 

20 → $551,421 0% 

21 → $366,875 -14% 

22 → $617,571 -12% 

The next area that we feel is important to review is Hamilton East, RAHB reported that it was one of the areas that had the highest pullbacks in both year-to-date sales and new listings. The average price of a property in this area was $687,320, an increase of 12.4 percent compared to the same period last year. Hamilton East is made up of the sub areas; 23, 24, 27 and 28. Please see the list below of the breakdown of these areas, interestingly each sub area saw an increase in the average price of a residential property. 

23 → $565,632 +1% 

24 → $678,200 +8% 

27 → $762,100 +20% 

28 → $749,328 +21% 

The final area that we’ll take a look at is the Hamilton Mountain, since this area had the highest number of sales and new listings for August 2023. With a total of 114 sales, 207 new listings and an average residential property price of $770,467. The Hamilton Mountain comprises the sub areas; 15, 16, 17, 18, 25 and 26. 

15 → $880,942 +4% 

16 → $794,003 +8% 

17 → $682,543 +6% 

18 → 811,881 -2% 

25 → $777,408 +7% 

26 → $711,580 -1% 

Other areas mentioned in the RAHB report were Ancaster, Flamborough and Stoney Creek. Each of those areas are illustrated on the map with each of their sub areas showing the average residential property price and whether it saw an increase or decrease. 

Summary of Statistics for Hamilton – August 2023  

According to the report released by the REALTORS® Association of Hamilton-Burlington (RAHB), there were a total of 795 sales of residential properties within the entire RAHB real estate market. This was an 11 percent decrease from the previous year. 

The average price of a residential property in Hamilton was $798,986 in August 2023, this was an increase of 2.2 percent compared to the same period last year. In Hamilton there were a total of 954 new listings and a total of 480 sales of residential properties in August 2023. 

“As expected, higher lending rates continue to impact sales, especially for higher-priced properties. But new listings have also slowed, keeping inventories in line with long-term trends. While conditions vary by location, property type and price range, we are shifting away from the overall tighter conditions experienced during the spring months.” – RAHB President Nicolas von Bredow.

For More Information About These Statistics 

For a more in-depth review of these statistics, please refer to the Hamilton Real Estate Statistics for August 2023.

Contact a Sales Representative at Judy Marsales Brokerage 

There were a lot of statistics reviewed in this report and you might have some questions, we can help with that. Please feel free to contact one of our incredible sales representatives at Judy Marsales Brokerage. You may contact us at one of our three locations; Locke Street South, Westdale and Ancaster. 

Have you been curious about what your home might be worth? Give our “What’s My Home Worth” calculator a try and find out. All of us at Judy Marsales are looking forward to working with you soon and helping you find the home of your dreams. 

Hamilton Real Estate Statistics for July 2023

The REALTORS® Association of Hamilton-Burlington (RAHB), have released the July 2023 real estate statistics. In this report we will be reviewing those statistics and summarizing them so we can better understand the real estate market. According to RAHB, there were a total of 797 sales of residential properties within the entire RAHB real estate market area. This was a decline of 292 sales when compared to the previous month. There were a reported total of 1,840 new listings within the entire RAHB real estate market area. 

“The number of new listings increased relative to sales, causing inventories to trend up over the last month and levels reported earlier this year. Months of supply rose to 2.9 months over the 1.8 months reported in June. The shift away from tighter conditions has paused price growth. The unadjusted benchmark price reached $873,600 in July, relatively unchanged over last month. Overall, prices remain much higher than pre-pandemic levels.” – RAHB

Hamilton Real Estate Market – Residential Activity and Prices

RAHB reported that in the Hamilton real estate market there were a total of 470 sales of residential properties. This was a small increase of 0.9 percent when compared to the same time last year. It was also reported that there were a total of 1,114 new listings within the Hamilton real estate market in July 2023. 

The average price of a residential real estate property within the Hamilton market was reported to have increased by 5.5 percent and was $847,087. The sales to new listings ratio had a 42 percent decrease and is supported by the gain in inventory. Inventory levels saw an increase in July 2023 but still remained lower than the previous years. RAHB notes that residential properties that were priced between $300,000 and $600,000 contributed to the majority of the inventory gains. 

“The rising inventory levels compared to sales caused the months of supply to increase from 1.8 months in June to three months in July. The unadjusted benchmark price reached $813,000 in July, relatively unchanged over last month and only one per cent lower than the $821,500 reported in July 2022.” – RAHB 

In the next section we’re going to look at the Regional Summary for July 2023. We’ll be able to review each neighbourhood within the Hamilton real estate market and review the number of sales to the average price of a residential property.

Regional Summary for July 2023

The above chart, Regional Summary for July 2023, illustrates each neighbourhood within the Hamilton real estate market. By reviewing this chart we’ll be able to see what each area had in terms of total sales, new listings, the average price of a residential property and more.

“Year-to-date sales and new listings have fallen below last year’s levels in all areas across the Hamilton region. Hamilton Centre, Hamilton West, Flamborough, Ancaster and Stoney Creek saw a rise in inventory over last year’s levels.” – RAHB 

Hamilton Centre had a total of 58 sales in July 2023, which was a decrease of 20.5 percent compared to the same period last year. There were a total of 150 new listings reported by RAHB, this was a 5.6 percent increase from the previous year. It was reported that the average price of a residential property in this area was $563,438, this was a slight decrease of 3.8 percent compared to the same period last year. 

When we take a look at Hamilton West we can see that RAHB reported a total of 31 sales in July 2023. This was an 11.4 percent decrease from the previous year with 80 new listings, an increase of 25 percent compared to the same time last year. The average price of a residential property in this area was reported to have increased by 1.6 percent and was $717,802.

Flamborough was reported to have had a total of 20 sales of residential properties in July 2023. This was an increase of 66.7 percent when compared to the same period last year. There were a reported 55 new listings, a 31 percent increase compared to July 2022. The average price of a residential property in this area in July 2023 was $1,388,245, this was a decrease of 20.8 percent compared to the same time last year. 

The REALTORS® Association of Hamilton-Burlington reported that in the Ancaster area there were a total of 36 sales of residential properties. This was an increase of 63.6 percent when compared to the same time last year. There were a total of 106 new listings, this was an increase of 1.6 percent compared to the same period last year. Ancaster reported an average property sale price of $1,281,917, an increase of 11 percent compared to the same time last year. 

The final area that we’ll review is Stoney Creek with a reported increase of 5.7 percent in the number of sales; this area had a total of 74 sales in July 2023. There were 213 new listings in July 2023, an increase of 26 percent. The average price of a residential property in Stoney Creek was reported to have been $838,950, a slight increase of 2.3 percent compared to the previous year. 

“While the months of supply trended up over the last month across all regions, only Hamilton Centre, Hamilton West, and Dundas reported a month of supply higher than last year.” – RAHB

The next section of this report will focus on the map, Average Residential Price by District. This map illustrates each sub area within each real estate market area, allowing us to get a closer look at the average residential property price. 

Average Residential Price by District

In this final section of our report on the Hamilton real estate market for July 2023, we’ll review the above map, Average Residential Price by District. This map does a great job of illustrating each area and sub areas in the Hamilton real estate market.

The previous section of this report covered the areas of Hamilton Centre, Hamilton West, Ancaster, Flamborough and Stoney Creek. Each of these areas are represented in the above map in sub areas. 

Hamilton Centre is represented by the sub areas; 13, 14, 20, 21 and 22. The average price of a residential property in this area was $563,438, a decrease of 20.5 percent. Below each of these sub areas are listed showing the average price and whether that price saw a decrease or an increase compared to the same time last year. 

13 → $487,222 -19% 

14 → $544,873 +5%

20 → $542,947 -8% 

21 → $529,286 +4% 

22 → $793,771 +12% 

The RAHB report mentioned that Hamilton West saw a rise in inventory over last year’s levels, this area comprises the sub areas; 10, 11 and 12. The average price of a residential property had an increase of 1.6 percent in Hamilton West and was $717,802. Listed below are the sub areas and what the average price was in each area in July 2023. 

10 → $578,238 +2% 

11 → $770,393 +12%

12 → $764,575 -3%

Ancaster, Stoney Creek and Flamborough were also mentioned in the RAHB real estate report. You can view each of these areas and the sub areas on the above map. In this map we are able to see the breakdown of each sub area and what the average price was for July 2023. 

Summary of Real Estate Statistics for Hamilton – July 2023

This report has covered a lot of real estate statistics relating to sales, average prices and new listings in the Hamilton and entire RAHB real estate market. To summarize there were a total of 797 sales of residential properties within the entire RAHB real estate market area, a decline of 292 sales when compared to June 2023. 

The REALTORS® Association of Hamilton-Burlington (RAHB), reported a total of 1,840 new listings within the entire RAHB real estate market area. It was also reported that the unadjusted benchmark price reached $873,600 in July and the overall prices were higher than pre-pandemic levels.

In the Hamilton real estate market, RAHB reported a total of 470 sales of residential properties. The average price of a residential property in the Hamilton real estate market was reported to have been $847,087. According to RAHB, there were a total of 1,114 new listings within the Hamilton real estate market in July 2023. 

“Another rate hike likely weighed on sales activity this month. However, it also supported further inventory gains and more balanced conditions compared to earlier this year. Despite the monthly gains in inventory, supply remains below last year’s levels and long-term trends for July,” – Nicolas von Bredow, President of RAHB.

For More Information About These Statistics 

For a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for July 2023.

Contact REALTOR at Judy Marsales Brokerage 

This report reviews a lot of real estate statistics and you might have some questions. We welcome you to feel free to contact one of our REALTORS®, they will be more than happy to help. Have you been thinking about listing your home but aren't sure what it might be worth? Give our “What’s My Home Worth” calculator a try and find out. 

Judy Marsales Brokerage has three locations in the Hamilton area, Ancaster, Locke Street South and Westdale. If you would like to reach out to one of these locations you can get in touch with one of our many talented sales representatives. 

Hamilton Real Estate Statistics for June 2023

The REALTORS® Association of Hamilton-Burlington (RAHB), have recently released their June 2023 real estate statistics. According to RAHB, there were a total of 1,115 sales of residential properties within the entire RAHB real estate market area. Sales appear to have had a decrease of 19 percent when compared to the previous year. 

“The monthly pullback in sales was not met with the same level of pullback in new listings, which supported some modest inventory gains over the previous month. Still, inventory levels remain more than 20 per cent lower than long-term trends for June. The increase in new listings caused market conditions to ease slightly compared to the previous three months.”

This report will review and discuss the June 2023 real estate market within Hamilton and surrounding areas. We'll review the sales, new listings, different property types, average prices and more. At the end of this report you will be able to contact one of our REALTORS® if you should have any questions or if you're interested in listing your property. 

Hamilton Real Estate Statistics 

It was reported that there were a total of 649 sales of residential properties within the Hamilton real estate market in June 2023. This was an increase of 6.7 percent when compared to the same time last year. There were a total of 1,173 new listings within the Hamilton real estate market, a 22.1 percent decrease from the previous year.

The report states that when it came to inventory, there was a decrease of 23.7 percent year-over-year with a total of 1,200 units. The average price of a residential property within the Hamilton real estate market was reported to have been $831,540. This was a decrease of only 3.3 percent compared to June 2022. 

“Despite a minor decrease over last month, sales activity improved over the previous year’s levels. While higher lending rates have weighed on sales activity, limited supply choices are contributing to slower sales so far this year. The sales to new listings ratio in June fell to 55 per cent, with 1,173 new listings and 649 sales, which helped support modest monthly inventory gains.”

The next section we’re going to look at is the Regional Summary for June 2023. in this section we can get a detailed look at each neighbourhood within the Hamilton real estate market. This chart will allow us to see everything from the number of sales to the average price of a residential property. 

Regional Summary for June 2023

The above chart, Regional Summary for June 2023, allows us to to see each neighbourhood within the Hamilton real estate market. We’re able to see what each area had in terms of total sales, new listings, the average price of a residential property and more. 

The year-to-date sales were reported to have slowed across all areas in the Hamilton real estate market. Hamilton Centre and Flamborough had a decline in sales to new listings ratio. RAHB reported that the sales to new listings ratio helped to support the monthly inventory gains in Hamilton Centre. 

“Year-to-date sales and new listings have slowed across all areas of Hamilton. Hamilton Centre and Flamborough have seen a decline in sales to new listings ratios over the previous year. In Hamilton Centre, this has supported some monthly inventory gains, making it the only area to see inventory beginning to line up with long-term trends.”

Hamilton Centre had a total of 68 sales reported in June 2023, this was a decrease of 21.8 percent. There were a total of 168 new listings, which was a decline of 26.3 percent compared to the previous year. It was reported that in this area the average residential sales price was $607,583, which was a decrease of 2.3 percent compared to the previous year. 

RAHB reported that the Flamborough area had a total of 34 sales in June 2023, an increase of 70 percent compared to the same time last year. When it came to the number of new listings, there were a reported total of 61, a decrease of 3.2 percent. The average price of a residential property in this area in June 2023 was $1,233,968, a decrease of 15.2 percent compared to the same time last year. 

Finally, we’ll take a look at Dundas, which is a highly sought after area within the Hamilton real estate market. This area reported a total of 29 sales in June 2023, a decrease of 12.2 percent when compared to the same time last year. There were a total of 39 sales, which was a decrease of 23.5 percent and an average sale price of $968,767, a decrease of 9.5 percent. Dundas had the fourth highest average sale price of a residential property. The next section of this report will look at the Average Residential Price by District, which is illustrated with a map of the entire Hamilton real estate market. 

Average Residential Price by District

If you take a look at the above map, Average Residential Price by District, you’ll be able to see each area within the Hamilton real estate market. Each of these areas has been broken down into sub areas, which allows us to see what the average price was. The map also shows us a percentage that indicates whether that price had an increase or decrease.

Hamilton Centre reported a total of 68 sales in June 2023. The average property price of $607,583, which was a decrease of 2.3 percent compared to the previous year. Hamilton Centre is made up of the sub areas; 13, 14, 20, 21 and 22. Listed below is a breakdown of these areas. 

13 → $573,643, -11% 

14 → $592,272, +3% 

20 → $575,808, 0% 

21 → $581,667, +7% 

22 → $761,126, -10% 

Flamborough was reported to have had a total of 34 sales in June 2023. The average price of a residential property was $1,233,968, this was a decrease of 15.2 percent compared to the same time last year. Flamborough is made up of the sub areas; 40, 43, 44 and 45. Each of these areas share the same average residential property price. The sub area that makes up Dundas is area 41 and the total number of sales in June 2023 was 29. Dundas had an average property price of $968,767, a decrease of 9.5 percent. 

Property Type Comparison 

The final chart that we’ll review today is the Property Type Comparison chart. This chart allows us to compare each property type in terms of average price, sales, and more. We’ll be focusing on sales, average price and new listings. According to the report released by RAHB, detached properties had a total of 412 sales in June 2023. This was a 0.5 percent decrease from the same period last year. It was reported that there were a total of 779 new listings, which was a decrease of 29.1 percent. The average price of this property was $921,496, this was a decrease of 2.2% compared to the same time last year. 

When we take a look at the semi-detached properties we can see that there were a total of 35 sales in June 2023. Compared to the previous year, this was a small decrease of only 2.8 percent. There were a total of 48 new listings of this property type with an average price of $730,844. The new listings had a decrease of 36 percent and the average price had a decrease of one percent. 

The next property type that we’ll review are townhouses, there were a total of 133 sales, an increase of 26.7 percent in June 2023. Townhouses had a total of 203 new listings recorded in June 2023, this was a small decrease of 3.3 percent. The average price of a townhouse was reported to have decreased by only one percent and was $745,942. 

Finally, the last property type that we’ll review for the Hamilton real estate market statistics will be the apartment-style properties. There were a total of 66 sales, which was an increase of 17.9 percent compared to the previous year. RAHB reported a total of 136 new listings, an increase of 15.3 percent when compared to the same period last year. This type of property had a decrease of 4.1 percent in the average price which was $504,339.

“Higher interest rates have driven consumers to look for more affordable homes. Within the detached market, sales declined at the higher price points but improved for homes priced below $800,000. Low inventory levels are keeping conditions tighter in the lower price ranges”

Summary of Statistics for The Hamilton Real Estate Market

In this report we reviewed and compared the Hamilton real estate market to the previous year. We learned that there were a total of 649 sales of residential properties within the Hamilton real estate market in June 2023. This was an increase of 6.7 percent when compared to the same time last year. 

The average price of a residential property in Hamilton was reported to have been $831,540, a decrease of only 3.3 percent compared to June 2022. If you’re looking for a more in-depth review of these statistics, please refer to the Hamilton Real Estate Statistics for June 2023. We've reviewed a lot of real estate statistics in this report and you might have some questions about them. Please feel free to reach out to one of our REALTORS® so that they can assist you and help answer any questions you may have. 

“Low inventory has been a challenge throughout the past several months. Inventory levels may continue to slowly increase as buyers pause to evaluate the impacts of recent interest rate adjustments” — Nicolas von Bredow, RAHB President.

Contact a Realtor at Judy Marsales Brokerage

There were a lot of real estate statistics reviewed in this blog and you might have some questions. Please feel free to contact one of our REALTORS® and they will be more than happy to help. You might also be wondering what the price of your home might be worth, please give our “What’s My Home Worth” calculator a try. 

If you have any questions please feel free to reach out to us either by phone at one of our three real estate office locations; Locke Street South, Westdale or Ancaster locations. One of our REALTORS® is waiting and happy to take your call.