Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 913 sales of residential properties in December 2020. It was also reported that sales were down 24 per cent when compared to the same time last year. When it came to new listings it was reported that there was a decrease of 47.9 per cent when compared to November 2020. However, there was an increase of 34 per cent when compared to December 2019. The average price of a residential property was up by 1 per cent from last month and up 25.4 per cent over December 2019. The average price of a property in December 2020 was $729,853.
The above chart, Residential Market Activity, shows us what neighbourhoods in the Hamilton and surrounding area had the highest number of sales, and what their average property price was. The Hamilton Mountain had a total of 116 sales, making it the area with the highest number of sales. The average price of a residential property on the Mountain was $644,764.
When it came to the area with the highest average cost of a residential property, it’s once again Flamborough, with a total of 15 sales and an average price of $1,079,500. Let’s now turn our attention to the below map, Average Residential Price by District.
Average Residential Price by District
The above map, Average Residential Price by District, illustrates each area in Hamilton, showing us the average price plus the amount of sales. Areas that we should take note of for December 2020, that had the highest number of sales were; 17, 42, 51 and 53.
Flamborough was once again the area that had the highest average residential property price, as mentioned in the section above. The average cost of a residential property in this area was $1,079,500 and it had a total of 15 sales. The area that had the highest number of sales in December 2020 was area 51, located in Stoney Creek. Now it’s time to take a look at our final chart, Hamilton Residential Table.
Hamilton Residential Table
Finally we can take review the Hamilton Residential Table and learn more about the statistics for the Hamilton area. This table breaks down the overall number for Hamilton’s December 2020 statistics. It was reported that there were a total of 577 sales of residential properties, a 30 per cent increase over December 2019 and a total of 913 sales in the entire RAHB market area.
The average price of a residential property in December 2020 was $661,783, which is a 15 per cent increase compared to the same time last year. It was also reported that the average days a property was on the market was 11.5 days, this is a 13.5 day decrease compared to the same time last year.
REALTORS® Association of Hamilton-Burlington December 2020 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of 913 sales in the entire RAHB market area in December 2020. That’s a decrease of 26 per cent when compared to sales last month, and an increase of 41.6 per cent when compared to the same time last year.
The number of listings saw a decrease of 47.9 per cent over November 2020 and the average price of a residential property was $729,853. This is a 1 per cent increase over last month and a 25.4 per cent increase over December 2019.
When it came to the sale of single family properties there was a 37.8 per cent increase in December 2020. It was also reported that the number of new listings was up by 34 per cent over the previous year and the average price saw an increase of 29.3 per cent to $829,226. Townhouses also saw an increase of 52.8 per cent in sales activity and new listings seeing an increase of 48.7 per cent. The average sale price of a townhouse increase by 23.3 per cent to $615, 775. Finally, apartment-style properties had a 43 per cent increase in sales from the same time last year, and new listings increased by 44.5 per cent. The acreage cost of an apartment-style property saw a 9.7 per cent increase to $475,330.
“We can see that the market has slowed from November, which is normal due to the holiday season, as well as increasing COVID-19 cases throughout the province, and more regions in Ontario placed into lockdown throughout December. Despite being in either the Red Zone (Control) or Grey Zone (Lockdown) throughout December, we do not see the effects on the number of sales and new listings that we did in the spring lockdown. This activity could be the result of continued low interest rates, coupled with increasing consumer confidence due to the approval of the COVID-19 vaccine in Canada.” Says RAHB President Donna Bacher.
For More Information About These Statistics
If you're looking for a more in-depth matrix of these statistics, please refer to to the Hamilton Real Estate Statistics for December 2020.
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