Tuesday, August 11, 2020     Kirsten McNamee     Local Hamilton Market Statistics

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The REALTORS® Association of Hamilton-Burlington (RAHB) just released their July 2020 Statistics. In this article we will review and summarize these statistics. There were a reported 1,613 sales of residential properties and the real estate market saw an increase of 27.7% in sales over the last month, and up 27.8% when compared to the same time last year. The average sale price saw an increase of 2.6% to $692,999, which is also a 16.3% increase from July 2019. 

When we review the above chart, Residential Market Activity, we can see that in the Hamilton area. The Hamilton Mountain had the most sales of residential properties, with a total of 248 sales and an average sale price of $591,182. Another notable area was Stoney Creek, with 186 sales of residential properties, with an average sale price of $639,906. We can now take a look at the map below, Average Sale Price by District, and get a close look at each area. 

average-residential-price-by-district-july-2020

The above map, Average Price by District, gives us a view of the entire Hamilton and surrounding areas. Showing us the number of sales and the average residential property price in each area, plus the total number of sales in each area. The areas to take note of are 17, 42, 46 and 53 - each of these areas had the highest number of sales for the month of July 2020. 

According to the above map the areas with the highest average residential property price were Flamborough, Dundas and Ancaster. Flamborough reported 24 sales with an average property price of $1,064,121. Ancaster reported 89 sales with an average property price of $849,872. Finally, Dundas reported a total of 30 sales with an average property price of $860,181. 

hamilton-residential-table-july-2020

Our final chart is the Hamilton Residential Table, this table breaks down the overall numbers for Hamilton's July 2020 statistics. There were a reported 1,613 sales of residential properties, which is an increase of 27.7% from the same time last year, and 27.8% up from July 2019. 

The average price of a residential property was reported to be $628,834, that's a 15% increase from July 2019. The average days a property was on the market was 20.1 days, 9 days less than the same time last year. Active listings saw a decrease of 22% to only 975. 

REALTORS® Association of Hamilton-Burlington July 2020 Statistics 

In July RAHB reported 1,613 sales of residential properties within the Hamilton area for the month of July 2020. Sales saw an increase of 23.7% over the previous month and 27.8% from June 2020. The average residential property price had an increase of 26% from June to $629,989 and 16.3% from July 2019. 

The number of sales for single family homes within the RAHB market area, saw an decrease of 18.1% compared to last year. The number of new listings was down 2.6% over last year, with the average sale price seeing an increase of 20%. When it comes to townhouse sales activity, there was an increase of 33.6% from July 2019, and new listings were up by 30.4%. The average sale price of a townhouse increased by 17.3% to $583,351. Finally, apartment-style properties had a decrease in sales by 17.1% when compared to the same time last year. With new listings seeing an increase of 76.8% and the average sale price increasing by 11%. 

“As we can see from the data, activity has resumed to pre-COVID-19 levels, and is actually surpassing the levels we would typically see in the summer due to pent-up demand over the last several months. What is also affecting the market – and more specifically the increase in average price – is the low number of active listings. With less available, buyers have limited choice and the market favours sellers.” says 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 July 2020.

Contact a Sales Representative at Judy Marsales 

Have questions about these May 2020 statistics? You can contact one of our sales representatives at any of our three locations. If you've been curious about how much your home is worth, try our What's My Home Worth calculator. 


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