The October 2019 Real Estate Market Statistics was released and they were provided by the REALTORs Association of Hamilton Burlington (RAHB). There were a reported 1,145 sales of residential homes. October sales were up from September and August and 6.4% from October 2018. It was also reported that the sale of a residential property increased by 7.1% from October 2018 to $602,029.
We can now turn our attention to the above chart, Residential Market Activity for RAHB Areas. The Hamilton Mountain once again reported the most sales for the month. With 198 sales of residential properties and an increased average price of $514,152. Another area that's important to mention is Hamilton Centre with 118 sales with an average property costing $398,287.
Finally we should mention the areas of Stoney Creek and Hamilton East, each having a reported 92 sales of residential properties respectively. Hamilton East had an average sale price of $414,671 and Stoney Creek had an average sale price of $553,039. We can take a look at the map below and see an overview of each area and note the number of sales and the average cost of a property.
The above map, Average Residential Price by District, illustrates each area in Hamilton and what the average cost of a property was for October 2019. The map also indicates how many sales there were in each area for the month. Sub areas, 16, 17, 18, 42 and 51 had the highest number of reported sales for October 2019.
Areas with the highest costing properties were Ancaster,Stoney Creek and Flamborough. Stoney Creek (sub area 52) came in first place with the average residential properties selling for $985,000. We can now turn our attention to the chart below to the Hamilton Residential Table.
Let's take a look at the above chart, Hamilton Residential Table. We can see how it has broken down the month of October for us so that we can clearly see how the overall Hamilton Residential market performed. There were a reported 752 sales of residential properties in the Hamilton Real Estate Market for October 2019.
With the average listing price having increased by 9% to $544,980 and a reported 1,086 new listings. There was only was a 5% decrease in the number of new listings compared to the same month last year. And we can take note that properties on the market for an average of 30.1 which is a 0.8% decreased over October 2018.
RAHB Statistics for October 2019
There were a reported 1,145 sales of residential properties in the RAHB market area. And we saw a 7.1% increase in the listing price of a property from October 2018 to $602,029. October was a great month for sellers but left buyers with less choice.
"The RAHB market area experienced more activity in October with an increase in the number of sales from last month, as well as from the previous year, which is good news for sellers. The number of new listings dropped by 8% compared to October 2018, and nearly 12% since last month, so there was less choice for buyers." - RAHB President Bob Van de Vrande.
For More Information About These Statistics
If you're looking for more in-depth statistics and matrix, please refer to RAHB's Hamilton Real Estate Statistics for October 2019.
Contact a Sales Representative at Judy Marsales Real Estate
If you have any questions about the statistics we reviewed today please feel free to contact one of our sales representatives today. And if you've been wondering what you house is worth, give our What's My Home Worth calculator a try. And we're looking forward to reviewing and summarizing the November 2019 statistics next month for your convenience.