Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,329 sales of residential properties within the RAHB market area for October 2021. Sales saw an increase of eight per cent when compared to the previous month, however, sales saw a decrease of 18 per cent compared to the same time last year.
When it came to new listings within the RAHB market area, there was a nine per cent decrease since the previous month. New listings were reported to be down 23 per cent when compared to October 2020. It was also reported that the average price of a residential property was $922,297, this was a five per cent increase compared to September 2021.
In the above chart, Residential Market Activity, we can see that the area with the greatest number of sales was the Hamilton Mountain. With a total of 198 sales and an average residential property price of $801,425.
The chart also shows us the area that had the highest price of a average residential property, which was Ancaster. The cost of a home in Ancaster was $1,319,953 and had a total of 81 sales, a slight decrease when compared to the same time last year. Let’s take a closer look at each neighbourhood in Hamilton with the Average Price by District map below.
Average Price by District
The above map, Average Price by District, illustrates to us how each area neighbourhood in Hamilton and the surrounding areas did in October 2021. This is in terms of the number of sales for the month and the average cost of a residential property. The sub areas that had the greatest number of sales were; 16, 17, 42, 51 and 53.
We can also see that Ancaster had the highest average residential property price for October 2021, $1,319,953. Ancaster had a total of 81 sales, which is a slight decrease when compared to the same time last year.
The above map shows us what areas had the greatest number of sales, for October 2021. We can see that Ancaster and area 51 had the most number of sales. As we mentioned above, Ancaster had a total of 81 sales and area 51 also had a total of 81, and an average property price of $1,006,473. We should also note that area 51 is located in Stoney Creek. Let's can now take a look at the final chart below and learn more about Hamilton’s real estate statistics for October 2021.
Hamilton Residential Table
In our final chart, Hamilton Residential Table, we will review the overall real estate statistics for October 2021. It was reported that in Hamilton the average residential property price was $864,474, that’s a 30 per cent increase compared to the same time last year.
When it came to the sales activity, there were a total of 807 sales in October 2021, that’s an 18 per cent decrease compared to the same time last year. There were a total of 875 new listings, which is a 22 per cent decrease compared to October 2020. Finally it was reported that the median residential property price was $780,000, a 24 per cent increase compared to the same time last year.
REALTORS® Association of Hamilton-Burlington October 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of reported a total of, 1,329 sales for October 2021. There was an eight per cent increase in sales when compared to September 2021 and an 18 per cent decrease when compared to October 2020. It was also reported that the average price of a residential property was $922,297.
It was reported that single family detached properties are continuing to be the most competitive type. With the average price of a detached property reaching a new record of $1,000,000, this was reported right across the RAHB market area.
Townhouses in the RAHB market area had an eight per cent increase in sales when compared to September 2021. New listings for townhouse were reported to be down seven per cent with an average property price of $756,684.
When it came to the sale of apartment-style properties there was decrease of one per cent, with new listings seeing an 11 per cent decrease compared to last month. The average price of an apartment-style property was $600,912, a four per cent decrease when compared to the previous month.
“Following September’s momentum, October posted a new average sale price record for residential properties. The number of sales are down significantly from last October’s highs and up slightly from the typical activity we usually experience in October. The level of active listings and months of inventory available remains concerning as demand continues to drive the market. We do not anticipate this to change as 2021 comes to a close.” - 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 the Hamilton Real Estate Statistics for October 2021.
Contact a Sale Representative at Judy Marsales
If you have any questions and would like to contact one of our sales representatives to learn more about the October 2021 real estate statistics, they would be happy to help. Have you ever been curious about what you home is worth? You can try our What’s My Home Worth calculator. All of us at Judy Marslaes are looking forward to meeting you soon!