Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,811 sales of residential properties in May 2021. Sales were reported to be down 5 per cent compared to last month, and up 90 per cent from May 2020. New listings were reported to be down by 14 per cent compared to April 2021, and up 73 per cent from May 2020. The average price of a residential property for the entire RAHB market area was, $843,468, which is only a 1 per cent decrease from April 2021. There was a 29 per cent decrease when compared to May 2020. When it came to inventory that was available at the end of last month it was 6 per cent lower than April 2021.
The above chart, Residential Market Activity, we can see how each neighbourhood in the Hamilton and surrounding area did when it came to sales and the average price of a property. The area that had the most sales for May 2021 was the Hamilton Mountain with a total of 249 sales, and with an average price of $736,782. When it came to the area with the highest average residential property price for May, it was Ancaster. The average price of a property in this area was $1,186,037, with a total of 81 sales. We can now take a look at the below map and get an even closer look at each area.
Average Price by District
The above map, Average Price by District, illustrates each neighbourhood in the Hamilton and surrounding areas. The areas that we need to take note of this month that had the highest number of sales were; 16, 42, 46, 50, 51 and 53.
Each of these areas had the highest number of sales for May 2021 and when you look at each of these areas you're also able to see what the average price was. Ancaster had the highest average price for a property at $1,186,037 and had a total of 81 sales. While the sub area 51 had the highest number of sales with the total being 114 and had an average property price of $815,104. it's now time to review the final chart the, Hamilton Residential Table and get an even closer look at the numbers for Hamilton's real estate market for May 2021.
Hamilton Residential Table
The final chart we are going to review today is the, Hamilton Residential Table, we can get an even closer look at the overall statistics for Hamilton. There were a reported 1,137 sales of residential properties in the Hamilton area, that’s a 90 per cent increase compared to the same time last year. The average cost of a property was $792,746, which is a 31 per cent increase compared to May 2020. The average days a property was on the market was 12.7 days, that’s 17.5 days less than the same time last year.
REALTORS® Association of Hamilton-Burlington May 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of reported a total of 1,811 sales of residential properties in May 2021. When we look at the sales for May we can see that there was 5 per cent decrease compared to the previous month but there was a 90 per cent increase compared to the same time last year. The average price of a residential property was $843,468, that's only a 1 per cent decrease from April 2021.
When it came to the number of sales of detached single family homes, RAHB reported a 4 per cent decrease compared to the previous month, with the average sale price having a 1 per cent decrease, $940,384. Townhouses saw a 10 per cent decrease in sales as well with an an average sale price of $714,695. When it came to Apartment-style properties, there was a 4 per cent increase compared to April 2021, with an average price of $532,030.
“In May 2021, the RAHB market area saw a very slight decrease in sales and number of properties being listed as compared to April 2021. We have to acknowledge that the impact of the COVID-19 pandemic distorts housing statistics when comparing year to year, so rather than looking at 2020 to 2021, our best insight comes from a month over month analysis – especially in a spring market.” - 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 May 2021.
Contact a Sales Representative at Judy Marsales
Do you have any questions about these May 2021 real estate statistics? Please contact one of Judy Marsales sales representatives at one of our three locations. If you've been wondering what you home is worth, you can try our What's My Home Worth calculator. All of us at Judy Marsales are looking forward to working with you soon!