The REALTORS® Association of Hamilton-Burlington (RAHB) just released their August 2020 Statistics. In this article we will review and summarize these statistics. There were a reported 1,272 sales of residential properties within the RAHB market area. Sales were reported to be down 21.4% over the last month, and up 12.7% compared to August 2019. The average cost of a residential property was up by 0.24% to $694,690 from last month, and up 16.3% from August 2019. While the number of active listings was down 18.6% over the same time last year.
Now lets review the above chart, Residential Market Activity, and we can see what neighbourhoods had the most sales and what the average cost of a residential property was. It was reported that in August 2020, the Hamilton Mountain had a total of 206 sales, with an average property price of $598,271. Stoney Creek reported a total of 153 sales, with an average property price of $703,948. The area with the highest average residential property price was Flamborough, with the price being $1,157,700. We can now turn our attention to the below map, Average Residential Price by District, to better understand each area.
The above map, Average Residential Property Price by District, allows us to view each neighbourhood in the Hamilton and surrounding areas. The areas to take note of for August 2020 are; 18, 17, 42, 51 and 53. each of these areas reported to have the highest number of sales of residential properties.
The map also illustrates to us the areas with the highest average price of a residential property. In August 2020 the areas that reported the highest average property prices were; Flamborough, with an average price of $1,157,700, Stoney Creek with an average price of $1,139,625 and finally Ancaster with an average property price of $945,078. Take a look at the next chart below, Hamilton Residential Table.
Our final chart is the Hamilton Residential Table, this table breaks down the overall numbers for Hamilton's August 2020 statistics.There were a reported 1,272 sales of residential properties, which is a decrease of 21.14% over previous months and up 12.7% from August 2019.
The average price of a residential property was reported to be $662,257, that's a 21% increase compared to the same time last year. The average days a property was on the market was 10 days, 9 days less than the same time last year. Active listings saw a decrease of 18% to only 955.
REALTORS® Association of Hamilton-Burlington August 2020 Statistics
In August RAHB reported 1,272 sales of residential properties within the Hamilton area. Sales saw a decrease of 21.14% over the same time last year. The average residential property price had an increase of 21% to $662,257. There were a total of 865 sales within the Hamilton market area, an increase of 20% compared to August 2019.
“This month’s activity was in line with what we would typically see for August; however, due toCOVID-19 the trends for the year are not what we would normally experience. Over the Spring, we saw lower than normal activity, but a balance between supply and demand. Into the Summer months we saw an increase in activity where we would normally see a decrease. As we move into the Fall, we would expect a return to higher activity. With the potential for a second wave of the virus we don’t want to make any predictions, butRAHB REALTORS® will continue to find houses for buyers and buyers for sellers in a healthy and safe way.” - 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 August 2020.
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