Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 825 sales of residential properties in January 2021. It was also reported that sales were down 9.6 per cent over the last month and 6.9 per cent compared to the same time last year. When it came to new listings, there was an increase of 47.3 per cent over December 2020. New listings were down 16.2 per cent over January 2020. The average price of a residential property was reported to be $787,840 which is an increase of 7.9 per cent when compared to December 2020.
The above chart, Residential Market Activity, shows us what neighbourhoods in the Hamilton and surrounding area had the highest number of sales and the average price of a property. The Hamilton Mountain once again had the most number of residential sales with a total of 98 sales and an average price of $701,032.
When it came to the area with the highest average cost of a residential property it was Flamborough, with an average price of $1,404,100 and Ancaster with an average price of $1,107,460. We can now take a look at the map below and get an even better view of the Hamilton area.
Average Residential Price by District
The above map, Average Residential Price by District, illustrates each neighbourhood within the Hamilton and surrounding areas. The areas we should take note of for January 2021, that had they highest number of sales are; 16, 42, 46, 51 and 53.
The area that had the highest average residential property price was Flamborough and it was $1,404,100. Coming in a second place, Ancaster had an average property price of $1,107,460. The area that had the highest number of sales was area 51, located within Stoney Creek. The final chart we’re going to review today is the Hamilton Residential Table.
Hamilton Residential Table
Our final chart to review is the above chart, Hamilton Residential Table, and when we review this chart we can better understand the January 2021 statistics. This table helps break down the overall numbers for Hamilton. There were a reported 486 sales in the Hamilton area, that’s a 4 per cent decrease compared to the same time last year, with a total of 825 sales within the entire RAHB market area.
The average price of a residential property was reported to be $722,628, that’s a 29 per cent increase over January 2020. The average days that a property was on the market was only 8 days, that’s 10 days less than the same time last year.
REALTORS® Association of Hamilton-Burlington January 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of 825 sales within the entire RAHB market area. Sales were reported to be down by 9.6 per cent when compared to the same time last year. When it came to new listings, there was an increase of 47.3 per cent over December 2020, but down 16.2 per cent over January 2020.
When it came to the sale of single family properties there was a decrease in January 2021 by 6.9 per cent compared to the same time last year. It was reported that new listings were down 16.2 per cent, and the average sale price increased by 23.4 per cent to $787,840 from January 2020.
Townhouses also saw a decrease in sales activity and new listings seeing an increase of 2.2 per cent and 3.3 per cent. The average price of a townhouse increased by 28.8 per cent to $664,958. When it came to apartment-style properties, sales increased by 64.7 per cent from the same time last year, and when it came to the average cost of an apartment-style property there was an 11 per cent increase to $475,796.
“In the RAHB market area, we saw an increase in sales activity last month, compared to January 2020, despite a decline in new listings. Our sales to listings ratio of 81.6 per cent, second only to January 2017, tells us that the RAHB market area is firmly in a seller’s market. This year’s decline in new listings builds off the back of the pre-pandemic drop in new listings and inventory levels we experienced in January 2020. In addition, now many homeowners may not be interested in or even able to move their households due to the pandemic, adding to our inventory woes.” - 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 January 2021.
Contacts a Sales Representative at Judy Marsales
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