Hamilton Real Estate Market Statistics for June 2022
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 995 sales of residential properties within the RAHB market area for June 2022. The real estate statistics in this article reflect both the entire RAHB market area and the Hamilton market area.
RAHB reported that when it came to the number of new listings in the entire market area, that there were a total of 2,543. This was a decrease of 3.3 per cent month over month and an increase of 27.1 per cent when compared to June 2021. The sales of residential properties were down 19.2 per cent month over month and with a decrease of 37.8 per cent when compared to June 2021.
It was also reported by RAHB that the average price of a residential property in the entire market area was $946,026. This was a decrease of five per cent compared to the previous month and an increase of nine per cent compared to the same time last year.
Residential Market Activity
The above chart, Residential Market Activity, allows us to see the average price of a residential property in the Hamilton and surrounding areas for June 2022. The chart also allows us to the number of sales in each area, we can then compare all these numbers to the previous year.
RAHB reported that the area with the greatest number of sales was the Hamilton Mountain with a total of 145 sales. The average price of a residential property in this area was reported to be $775,744, which is an increase when compared to the same time last year.
When we take a look at the area that had the highest average residential property price, we can see that it was Flamborough. With an average residential price of $1,400,474 and a total of 23 sales. We can see that while there was an increase in the price there was a slight decrease in the number of sales.
It was reported that in Dundas the average price of a property was $1,088,727 with a total of 32 sales. Just as the areas above, we can see that while the price of a property increase the number of sales had a very slight decrease. Ancaster also had an increase in the cost of a residential property in June 2022. With the average price being $1,399,799 and a total of 52 sales. Once again we see the same increase in property sale price and slight decrease in sales. Let’s now take a look at the below map of the entire RAHB real estate market area.
Average Residential Price by District
The above map, Average Residential Price by District, illustrates each area within the entire RAHB real estate market area. It illustrate the average price of a residential property and shows us the number of sales within each area. We’ll just focus on the Hamilton portion of this map to get a closer look at the Hamilton real estate market. The sub areas we’ll take note of that had the greatest number of sales were areas 17, 42, 50 and 51.
It was reported by RAHB that in Dundas (area 41) that the average price of a residential property was $1,088,727 with a total of 32 sales. While in Ancaster (area 42) the average price was $1,399,799 and there were a total of 52 sales in June 2022. We know that both areas had an increase when it came to the average price of a property. These are two very sought after areas within Hamilton.
The Hamilton Mountain had the most residential sales in the Hamilton real estate market area and it’s made up of sub areas; 15, 16, 17, 18, 25 and 26. The average price overall was $775.744 with a total overall sales of 145. If we break it down you can see what area sub areas average price and total of sales for the month of June 2022. You can see them listed below for reference.
- Sub area 15 had an average residential sale price of $753,528 with a total of 18 sales
- Sub area 16 had an average residential sale price of $883,173 with a total of 30 sales
- Sub area 17 had an average residential sale price of $676,605 with a total of 44 sales
- Sub area 18 had an average residential sale price of $867,229 with a total of 28 sales
- Sub area 25 had an average residential sale price of $743,076 with a total of 17 sales
- Sub area 26 had an average residential sale price of $717,363 with a total of 8 sales
You can continue to explore this map and see what other areas residential property prices were and see how many sales it had. You might even find your area and you can get a better idea of what the market was like in June 2022. Now let's take a look at the final chart the, Hamilton Residential Table, and get a better understanding of the overall real estate statistics for the Hamilton market area.
Hamilton Residential Table
The final chart we’ll review today is the, Hamilton Residential Table, which allows us to see the overall real estate statistics for the Hamilton market area. It was reported by RAHB that the average price of a residential property in June 2022 was $863,016. This was an increase of 9.6 per cent when compared to June 2021.
When it came to the number of sales in June 2022, Hamilton had a total of 626 sales. This was a decrease of 35.2 per cent when compared to the same time last year. While new listings had an increase of 25 per cent, with a total of 1,497 in June 2022.
Listings had an average of 13 days on the market, this was an increase of 5 days compared to the same time last year. Finally when it came to the median price of a residential property in Hamilton was $782,000, this was a 9.7 per cent increase.
REALTORS® Association of Hamilton-Burlington June 2022 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of 995 sales of residential properties within the RAHB market area for June 2022. The residential property sales had a decrease of 19.2 per cent month over month and a decrease of 37.8 per cent when compared to June 2021.
It was reported by RAHB that there were a total of 689 sales of detached properties within the RAHB market area. This was a decrease of 19.2 per cent compared to May 2022 and a decrease of 35.3 per cent compared to June 2022. The average price of a detached residential property in June 2022 was $1,054,851, this was an increase of 7.5 per cent compared to the same time last year.
When it came to the total number of townhome sales, RAHB reported a total of 182 sales in June 2022. This was a decrease of 23.8 per cent compared to the previous month, however a decrease of 40.5 per cent when compared to June 2021. The number of new listings had an increase of 25.8 per cent compared to the same time last year, with a total of 434 in June 2022. The average price of this type of property was $775,511, this was an 8.4 per cent increase compared to the same time last year.
Finally, when it came to apartment-style properties there were a total of 114 sales in June 2022. This was a decrease of 47.7 per cent when compared to the same time last year. There were 295 new listings with an average property price of $582,789, an increase of 9.1 per cent compared to June 2022.
“Similar to May, sales activity in June was below the five and ten-year historical averages. This was the experience for all dwelling types and sub-regions across the RAHB market area. In June, mortgage rates increased by 0.5 per cent, and as a result, some potential buyers have likely delayed their purchase because they may be taking a “wait and see” approach to the market or they can no longer qualify. The overall residential average sale price across the RAHB market area fell five per cent from May to $946,026, while the months of inventory climbed above the two-month mark for the first time in over two years. The increase in active listings signals a more balanced market where buyers have greater negotiation power and more options.” - RAHB President Lou Piriano
For More Information About These Statistics
If you’re looking for a more in-depth metric os these statistics, please refer to the Hamilton Real Estate Statistics for June 2022.
Contact a Sales Representative at Judy Marsales
If you have any questions about the June 2022 real estate statistics in this blog please don’t hesitate to contact one of the sales representatives at Judy Marsales. Please also feel free to contact us at one of our three real estate office locations in the Hamilton and surrounding areas; Locke Street South, Westdale or Ancaster.
Have you been thinking about listing your property but you’re not sure what it might be worth? Give our What’s My Home Worth calculator a try and find out. All of the sales representative and brokers are Judy Marsales are looking forward to meeting with you soon and helping you find the home you’ve been looking for.