Friday, June 5, 2020     Kirsten McNamee     Real Estate Trends

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The Real Estate Association of Hamilton-Burlington (RAHB) just released their May 2020 Statistics. In this article we will review and summarize these statistics.RAHB reported a total of 852 sales within the residential market area for May 2020. Sales were down 42.2% over May 2019, and up 43.4% compared to last month. It was also reported that the average sale price of a residential property had a 10% increase over May 2019 to $655, 418. 

When we take a look at the above chart, Residential Market Activity, we see that the Hamilton Mountain once again had the greatest number of sales with a total of 132. The area also had an average property price of $561, 221. Another area that did quite well was Stoney Creek, with a total of 103 sales, and an average residential property price of $650, 580. Let's now turn our attention to the map below, where we can take a more in depth look at each neighbourhood in Hamilton. 


The above map, Average Residential Price by District, illustrates the entire Hamilton area by neighbourhood. Allowing us to see how each neighbourhood did in terms of the average property price for the month. Sub areas to take note of were; 16, 42, 51 and 53 - each of these areas had the highest average residential property price. 

It was reported that, and according to the above map, that Flamborough had an average price for a residential property being $837,679. The next area that we need to mention is Ancaster, where the average price was $806,662, and it had a total of 58 sales. Finally it's important to mention Stoney Creek, which had the highest average residential property price of $1,060,033 with a total of 103 sales. The next chart we'll take a look at is the Hamilton Residential Table. 


The final chart is the Hamilton Residential Table, which breaks down the overall numbers for May 2020. When we review this chart we can clearly see everything from the total number of sales to the average days a property is on the market. It also shows us the percentage in the difference from the previous month. 

In May 2020 Hamilton saw a total of 574 sales of residential properties, this is a 40% decrease when compared to the same time last year. However, the average cost of a residential property had an increase of 10% to $604,578. It's also important to note that the number of days a property was on the market went up by 3.3 days to 28.9 days. 

RAHB May 2020 Statistics 

It was reported that there were a total of 852 sales of residential properties in May 2020, in the RAHB market area. It was also reported that sales were down 42.2% over May 2019, and up 43.4% when compared to April 2020. The average residential property was reported to be up by 10% to $655,418, and up 6.3% compared to last month. 

When it comes to single family homes, it was reported that there was a decrease by 42.5%, and the average price increased by 11.6%. Townhouse sales saw a decrease by 42.1%, compared to the same time last year, with an increase of 9.3% in the average price to $555,716. Apartment-style properties there was a 35.1% decrease from May 2019, and the average price saw a decrease of 6.4%. 

"New listings and sales are understandably down compared to May 2019; however, the average sale price has held fairly steady week-over-week during COVID-19 due to a balance of buyers and sellers. The province moving safely into phase one of re-opening has improved consumer confidence, leading to an increase in activity compared to April. If progress continues and the weather cooperates, we should expect higher activity in June." - 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 May 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 right now. 

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