Friday, April 3, 2020     Kirsten McNamee     Real Estate Trends

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The Real Estate Association of Hamilton-Burlington (RAHB) just released their March 2020 Statistics. We'll be reviewing and summarizing these statistics. It was reported that there were 1,098 sales in March 2020. Sales were up 10% over February 2020 but down 3.1% over March 2019. The average price of a residential property was $658,161, which is a 1.8% increase from the previous month and up 14.5% from March 2019.

Now let's review the above chart, Residential Market Activity for RAHB. The Hamilton Mountain reported a total of 168 sales with an average properties price of $556,963. Making this area number one for the month of March. The next area to note would be Stoney Creek, with 129 sales of residential properties. And with an average property price of $623,693. We can now turn out attention to the below map for an overview of the entire Hamilton area. 


The above map, Average Residential Price by District for March, makes it possible for us to see how each area did in Hamilton for March 2020. We're able to also to note how many sales there were and the average price of a residential property price. Areas to take special note of for March were sub areas, 16, 42, 51 and 83. Each of those sub areas had the highest number of sales. 

The area with the highest average property price were Flamborough, Ancaster and Glanbrook. Flamborough had an average residential property price of $833,453 and a total of 19 sales. Ancaster saw a total of 68 sales with an average property price of $777,796. And Glanbrook reported an average residential property price of $628,073 and a total of 47 sales. Let's now take a look at the chart below, Hamilton Residential Table and review the comparisons to March 2019. 


Our final chart to review today is the Hamilton Residential Table. It clearly shows that there was a 16% increase in the average price of a residential property of $605,140. With a reported 1,086 new listings and only a decrease of 6% compared to the same time last year. 

It was also reported that the average number of days a property was on the market was 21.1 days, 10 days less than March 2019. And when we look at the Sales Activity we can see that there were a total of 723 sales, only a 1% difference compared to the same time last year. There's a lot we can learn from these statistics and prepare for the April market. 

RAHB Statistics for March 2020 

The March 2020 real estate statistics reported a total of 1,098 sales within the RAHB market area. Sales were reported to be up 10% over the previous month. With an average residential sale price of $658,161. And the average sale price of a residential property actually saw an increase of 1.8% over February 2020. When we compare these numbers to March of last year we actually see a 14.5% increase. 

When we look at the numbers of single family homes, townhouses and apartment-style we can see that there were both increases and decreases. It was reported that the average sale price of a single family property increased by 14.3%. Townhouse sales did see a decrease in sales of 5.7% over the same month last year. However, the average sale price of a townhouse saw an increase of 14.9% to $562,336. And it was reported that the sales of apartment-style properties saw a decrease of 11.9%. But again, there was an increase in the sale price by 14.5%. 

"January and February saw increases in sales and new listings, as well as average price. For March there was growth at the beginning of the month; however, COVID-19 infiltrated our communities mid-month and slowed activity in the latter half. our REALTORS® work to be a part of the solution in the fight to flatten the curve, all the while serving clients who are in great need of their assistance. We are seeing the impact on our market activity and expect to continue to see a slowing of the market as our communities focus on the unprecedented fight." - 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 March 2020

Contact a Sales Representative at Judy Marsales 

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

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