Monday, March 7, 2022     Erin    

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Residential Market Activity

The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,228 sales of residential properties within the RAHB market area for February 2022. These statistics were reported within the RAHB market area. Sales of residential properties were reported to be up 71 per cent month over month. However, they were reported to have had a 4.4 per cent decrease when compared to February 2021.

It was also reported that there were 1,675 new listings in February 2022, this was an 84.2 per cent increase month over month. When compared to the same time last year there was a 1.2 per cent increase when it came to new listings.

The average price of a residential property was reported to be $1,104,163. This was a 4.2 per cent increase when compared to the previous month. When compared to February 2021, this was a 30.3 per cent increase.

The above chart, Residential Market Activity, allows us to see each area within the Hamilton and surrounding areas. Specifically, we can see which areas has the greatest number of sales in February 2022. We can then compared those numbers to the same time last year, as well as what the average residential property price was.

RAHB reported that the area with the highest average residential property price in Flamborough. The average price of a home in this area was $1,450,799. Flamborough was also reported to have had a total of 19 sales in February 2022, a slight decrease when compared to the same time last year.

When it came to the area that had the greatest number of sales in Hamilton, we can see that it was the Hamilton Mountain. This area had a total of 159 sales in February 2022, with an average residential property price of $989,197.

It’s also important to note that Burlington had a total of 254 sales of residential properties and had one of the highest average residential property prices, $1,413,836. Ancaster had the third highest average residential property price of $1,319,753 and a total of 60 sales in February 2022. We can now take a look at the below map and get a closer look at the residential property sales and prices for February 2022.

average-price-by-district-feb-2022

Average Price by District

The above map, Average Price by District, illustrates each area within the Hamilton real estate market area. It allows us to see what the average price of a residential property was in Hamilton in February 2022. The sub areas that we need to take note of, that had the greatest number of sales were; 18, 42, 50, 51 and 53.

As we mentioned above, RAHB reported that the area with the highest average residential property price was Falmborough. This area reported an average property price of $1,450,799 (sub areas 40, 43, 44, and 45) and a total of 19 sales.

The above map also illustrates which area had the greatest number of property sales in February 2022. This area was reported to be sub area 51, located in Stoney Creek, with a total of 67 sales. Finally, we can review the final chart, the Hamilton Residential Table.

hamilton-residential-table-feb-2022

Hamilton Residential Table

The final chart that we’re going to review today is the above chart, Hamilton Residential Table. This table shows us the overall real estate statistics for Hamilton in February 2022. It was reported that the average price of a residential property was $1,013,485, which was an increase of 31 per cent when compared to the same time last year.

It was reported by RAHB that Hamilton had a total of 755 sales of residential properties in February 2022. This was a 0.5 per cent increase when compared to the same time last year. When it came to new listings, there was a total of 1,035, this was a 5.4 per cent increase compared to February 2021.

The average number of days a property remained on the market was 9.1 days, this 4.4 days less than the same time last year. When it came to the median price of a residential property, it was reported to be $951,000, which was a 34.4 per cent increase when compared to February 2021.

REALTORS® Association of Hamilton-Burlington February 2022 Statistics

To summarize, the REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,228 sales of residential properties within the RAHB market area for February 2022. The sales of residential properties saw an increase of 71 per cent month over month, and were reported to have had a 4.4 per cent decrease when compared to the same time last year.

“The number of sales and new listings rose substantially month over month, and kept pace with the feverish demand of February 2021. However, while the number of new listings surpassed each February over the last ten years, the demand continued to impact inventory and fuel the residential average sale price to a new record-high. In acknowledging that the average sale price can be concerning to buyers, at the time of this release, there were more than 100 residential detached properties of the 500 available that were listed under $700,000. Therefore, if homeownership is on your bucket list, you should consult a local RAHB REALTOR® to help you navigate the market.” - RAHB President Lou Piriano.

For More Information About These Statistics

If you’re looking for a more in-depth matrix of these statistics, please refer to the Hamilton Real Estate Statistics for February 2022.

Contact a Sale Representative at Judy Marsales

You might have questions about these February 2022 real estate statistics, and one of the sales representatives at Judy Marasles would be happy to help. We have three locations in Ancaster, Westdale and Locke Street South. If you’ve been wondering what your home might be worth, please try our What’s My Home Worth calculator. All of us at Judy Marsles are looking forward to working with you soon.


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