Residential Market Activity
The The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,275 sales of residential properties within the RAHB market area for July 2021. Sales were reported to be down 20 per cent when compared to July 2020, and were also reported to be down 20 per cent when compared to the same time last year.
New listings also saw a decrease, they were down 24 per cent from June 2021 and down 20 per cent when compared to July 2020. The average cost of a residential property for the entire RAHB market area for July 2021 was reported to be $847,104, which is a decrease of 2 per cent from the previous month and 22 per cent compared to the same time last year.
The above chart, Residential Market Activity, let’s us see each neighbourhood in the Hamilton and surrounding areas. Allowing us to see the average cost of a residential property and we’re able to compare it to the same time the previous year. The chart also allows us to see how many properties were sold during the month and compare the numbers to the previous year.
The neighbourhood that had the highest number of sales for July 2021 was the Hamilton Mountain. The total number of sales in the neighbourhood was 185 sales, this is a decrease when compared to the same time last year, and the average cost of a property was $744,196. The neighbourhood that had the highest average cost of a residential property was Flamborough, which was $1,278,257 and a total of 27 sales. Now we can take a look at the below map and get a more detailed look into each area within each neighbourhood.
Average Price by District
The above map, Average Price by District, helps to illustrate each neighbourhood in the Hamilton and surrounding areas. The sub areas that we need to take note of for July 2021 were; 17, 20, 23, 42, 50, 51 and 53. Each of these sub areas had the highest number of sales for the month of July 2021.
Flamborough had the highest average residential property price, which was reported to be $1,278,257, with a total of 27 sales. As we mentioned above, the neighbourhood with the highest number of sales for the month of July 2021 was the Hamilton Mountain. With a total of 185 sales and an average residential property price of $744,196. The sub area with the highest number of sales was area 51, this area is located in Stoney Creek, with an average residential property price of $780,881. It’s time to take a look at our final chart, the Hamilton Residential Chart and get a closer look at how Hamilton's real estate market did in July 2021.
Hamilton Residential Chart
Finally, we’ll take a look at the, Hamilton Residential Chart, this chart allows us to see the overall real estate statistics for July 2021. In Hamilton there were a total of 782 sales, this is a decrease of 26 per cent when compared to the same time last year. When it came to the average cost of a residential property it was reported to be $779,783, that’s a 24 per cent increase compared to July 2020.
REALTORS® Association of Hamilton-Burlington July 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of reported a total of, 1,275 sales for July 2021. It was reported that there was a decrease of 20 per cent when it came to sales, 20 per cent when compared to July 2020. The average price of a residential property was reported to be $847,104, which was an Increase of 2 per cent from last month and an increase of 22 per cent from July 2020.
When it came to detached homes the RAHB area saw a slight decrease when it came to the average price compared to June 2021. Townhouse sales also had a decrease in sales, there was a 26 per cent decrease compared to June 2021. The number of new listings of townhouses saw a 20 per cent decrease and the average sale price had a 2 per cent decrease to $735,606. Apartment-style properties in the RAHB market area had a 28 per cent decrease in sales in July 2021, with an average price of $521,552, which is a 21 per cent decrease.
“Since the pandemic began, the RAHB market area has been anything but predictable and each new month has brought historic highs and lows. Overall this month, we are seeing the number of sales and active listings slightly decrease compared to the previous four months which is inline with seasonal trends. We are continuing to experience high demand coupled with record low inventory in almost all property types which is driving sale prices.” - 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 July 2021.
Contact a Sales Representative at Judy Marsales
If you have any questions about the July 2021 statistics please contact one of our sales representatives and they will be happy to help. If you’ve ever wondered what you home is worth you can give our What’s My Home Worth calculator a try. All of us at Judy Marsales are looking forward to working with you soon and helping to find the house of your dreams.