Tuesday, July 14, 2020     Kirsten McNamee     Real Estate Trends

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The Real Estate Association of Hamilton-Burlington (RAHB) just released their June 2020 Statistics. In this article we will review and summarize these statistics so that they can be better understood. RAHB reported a total of 1,304 sales of residential properties within the RAHB market area. It was also reported that sales were up in June 2020 by 53% compared to the same time last year. With the average price of a property up 13.7% to $675,223 and up 3% from May 2020.

When we take a look at the above chart, Residential Market Activity, it's clear that the Hamilton Mountain and Stoney Creek had the most sales in June. With the Hamilton Mountain reporting a total of 182 sales, and Stoney Creek reporting 136 sales. Flamborough only had 31 sales but had the highest average property price of $1,010,282. To get a better idea and to see each area in Hamilton, we can take a look at the map below. 


The above map, Average Price by District, illustrates a wonderful view of the entire Hamilton and surrounding areas. Showing us the number of sales and the average residential property price in each area. We can see right away that areas we need to note are; 40, 42, 43, 44 and 52. Each of these areas had the highest number of sales for the month of June 2020. 

According to the above map the areas that had the highest average property price were, Flamborough with an average property price of $1,010,282. The next area with one of the highest property price was Ancaster at $870,583. Now we can turn our attention to the chart below and dive a bit deeper into some overall numbers and how long properties were on the market in June 2020. 


The final chart that we'll review in this article is the, Hamilton Residential Table, this table is able to break down the overall numbers for June 2020. We can see that in June 2020 there was a reported 825 sales, only a 4% decrease compared to the same time last year.

With the average price of a residential property being $619,049 we can see there was a 14% increase over June 2019. The average days a property was on the market also decrease by 4 days to only 21.6 days. Finally we can see that there was only a 10% decrease in the amount of listings in June, there were 1,160 and 1,024 active listings. 

RAHB June 2020 Statistics 

In June 2020 RAHB reported a total of 1,304 sales of residential properties, sales were up by 53% over May 2020 and only down 0.2% over June 2019. The average residential property price was reported to be up 13.7% to $675,223 and up 3% from last month. 

When we look at single family home sales, we can see it was reported that there was a decrease of 0.2%, with the average sale price seeing an increase of 13.7%. Townhouse sale activity saw an increase of 10% over June 2019, with the average sale price being $563,849. Finally, apartment-style properties had a reported decrease in sales by 13.5% in June 2020, with an average property price seeing an increase of 6.8%. 

"With the re-opening of the province, and the increased confidence in both the economy and the health of our communities, we are seeing higher activity in both sales and new listings throughout theRAHB market area. Typically, spring is busier than summer; however,COVID-19 seems to have pushed the market back a few months. Throughout the pandemic, the average price of a residential property in our market has held steady. If Ontario's recovery fromCOVID-19 continues, we shouldn't see a decrease; however, we are cautious that any relapse or second wave could slow the activity and affect average price." - 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 Market Statistics for June 2020

Contact a Sales Representative at Judy Marsales 

Have questions about these June 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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