Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) has reported 1,233 sales of residential properties in November 2020. Sales were down by 24.12 per cent over the last month, and up 17 per cent compared to the same time last year.
New listings in November 2020 were reported to be down by 28.98 per cent over October 2020, and up 16.3 per cent over last November. The average property price was reported to be $722,317, which is a 0.11 per cent increase from last month, and up 21.2 per cent from November 2019.
The above chart, Residential Market Activity, shows us what neighbourhoods in Hamilton and the surrounding areas had the highest number of sales, and their average property price. The Hamilton Mountain had 182 sales in November 2020, this is the highest number of sales in the Hamilton area. The average property price in this area was reported to be $603,025. The area that had the highest average sale price was Flamborough, it was $977,048. Let’s now turn our attention to the below map, Average Residential Price by District, and get a better look at each area in Hamilton and how many sales they had, plus the average price of a property.
Average Residential Price by District
The above map, Average Residential Price by District, illustrates each area in Hamilton and the surrounding areas. We can get a look at how many properties were sold and what their average property price was. Areas to take note of that had the highest number of sales were; 16, 17, 42 and 51,
Flamborough had the highest average property price of, $977,048m with a total of 21 sales in November 2020. We can now look at the final chart below, Hamilton Residential Table, and learn more about the sales activity for November 2020.
Hamilton Residential Table
Finally, we can take a look at the above chart, Hamilton Residential Table. This table breaks down all the overall numbers for Hamilton’s November real estate market statistics. There were a reported 1,233 sales of residential properties within the RAHB market area, with a total of 779 sales in Hamilton. This is a 16 per cent decrease when compared to the same time last year.
The average price of a residential property for November 2020 in Hamilton was $651,744, a 21 per cent decrease compared to November 2019. It was also reported that the average days a property remained on the market was 17.2 days, this is a decease when compared to the same time last year.
REALTORS® Association of Hamilton-Burlington November 2020 Statistics
The REALTORS Association of Hamilton-Burlington reported a decrease of 24.12 per cent in sales for November 2020. The number of sales of family homes in the entire RAHB area had a 3.8 per cent decrease over the same time last year. The number of listing were also reported to be down, with a decrease of 10. 5 per cent, and the average sale price saw an increase of 24.4 per cent to $812,912.
When it came to the sale of townhouses, there was an increase of 15.2 per cent. New listings of townhouses were up by 19 per cent, with an average sale price seeing an increase of 17.6 per cent to $606,394. Apartment-style properties had an increase in sales by 14 per cent when compared to the same time last year. Wth new listings seeing an increase of 37.3 per cent, and the average sale price also having an increase of 1.4 per cent to $453,238.
“What we can initially see is that the market has slowed from last month, and this is due to the colder weather, the COVID-19 cases increasing throughout the province, and Hamilton/Burlington moving to Red Zone as of November 16 where open houses are now banned. An extremely low number of active listings at the end of each month is continuing to drive average prices higher. It’s a vicious cycle of sellers not listing their homes until they are confident they will find another home to buy.” - 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 to the Hamilton Real Estate Statistics for November 2020.
Contacts a Sales Representative at Judy Marsales
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