Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,271 sales of residential properties in February 2021. Sales were reported to be up by 54 per cent compared to the previous month, and there was an increase of 14.9 per cent from February 2020.
When it came to new listings, there was an increase of 61.9 per cent compared to January 2021 and up 12.2 per cent compared to the same time last year. It was reported that the average price of a residential property had an increase of 7.7 per cent to $848,719, and up 29.5 per cent from February 2020.
The above chart, Residential Market Activity, shows us how neighbourhoods in Hamilton and the surrounding areas did when it came to the real estate market in February 2021. The area that had the highest number of sales was the Hamilton Mountain, with a total of 162 sales and an average price of $732,563.
When it came to the area that had the hight average property price, it was Flamborough. The average property price in this area was reported to be $1,383,625. Ancaster also had a high average price of $1,069,055. Let’s now take a look at the below map, Average Residential Price by District.
Average Residential Price by District
The above map, Average Price by District, illustrates each neighbourhood in Hamilton. The areas that we need to take note of for February, that had the highest number of sales, were; 42, 50, 51 and 53.
The area that had the highest average residential sale price was Flamborough and it was $1,383,625. The area that had the highest number of sales was the Hamilton Mountain, with an average property price of $732,563 and a total of 162 sales. We can now take a look a the final chart, Hamilton Residential Table and learn more about Hamilton’s February real estate market statistics.
Hamilton Residential Table
The final chart we will review today is the, Hamilton Residential Table. This table helps us to break down the overall numbers for Hamilton. There were a reported 1,271 sales within the entire RAHB market area, which is a 54 per cent increase compared to January 2021. There were also a reported 745 sales within the Hamilton area.
The average price of a residential property in Hamilton was reported to be $769,724, which is a 30 per cent increase compared to the same time last year. The average days a property was on the market was 13.3 days.
REALTORS® Association of Hamilton-Burlington February 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of 1,271 sales within the entire RAHB market area. Sales were reported to be up by 54 per cent from the perilous month, and up 14.9 per cent compared to the same time last year. When it came to new listings, there was an increase of 61.9 per cent from January 2021 and up 12.2 per cent compared to February 2021.
The number of sales of single family properties saw an increase of 14.9 per cent with new listing seeing an increase of 7.5 per cent. The average cost of a single family property was $848,719. Townhomes saw an 11.9 per cent increase in sales in February 2021 and an average property price of $730,078. When it came to apartment-style properties, there was an increase of 31 per cent in sales and the average price was $515,217.
“In the RAHB market area, we saw an above average increase of 7.7 per cent in the average price of a home month over month. There are several pandemic related factors which have contributed to the high demand for housing combined with the low supply levels we have experienced in our market area. The good news is the number of new listings broke a 10-year record for February and our active listings increased by 28 per cent from January 2021. As we recover from these ultra low inventory numbers, buyers should start to see more selection and a bit less competition. Additionally, new listing numbers should stay strong and inventory levels should continue to increase to a more normal level as more of the RAHB market area moves out of lockdown and control zones.” - 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 February 2021.
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