Current Market Statistics for June 2020

residential-market-activity-for-rahb-areas-june-2020 

The Real Estate Association of Hamilton-Burlington (RAHB) just released their June 2020 Statistics. In this article we will review and summarize these statistics so that they can be better understood. RAHB reported a total of 1,304 sales of residential properties within the RAHB market area. It was also reported that sales were up in June 2020 by 53% compared to the same time last year. With the average price of a property up 13.7% to $675,223 and up 3% from May 2020.

When we take a look at the above chart, Residential Market Activity, it's clear that the Hamilton Mountain and Stoney Creek had the most sales in June. With the Hamilton Mountain reporting a total of 182 sales, and Stoney Creek reporting 136 sales. Flamborough only had 31 sales but had the highest average property price of $1,010,282. To get a better idea and to see each area in Hamilton, we can take a look at the map below. 

average-residential-price-by-district-june-2020

The above map, Average Price by District, illustrates a wonderful view of the entire Hamilton and surrounding areas. Showing us the number of sales and the average residential property price in each area. We can see right away that areas we need to note are; 40, 42, 43, 44 and 52. Each of these areas had the highest number of sales for the month of June 2020. 

According to the above map the areas that had the highest average property price were, Flamborough with an average property price of $1,010,282. The next area with one of the highest property price was Ancaster at $870,583. Now we can turn our attention to the chart below and dive a bit deeper into some overall numbers and how long properties were on the market in June 2020. 

hamilton-residential-table-june-2020-3

The final chart that we'll review in this article is the, Hamilton Residential Table, this table is able to break down the overall numbers for June 2020. We can see that in June 2020 there was a reported 825 sales, only a 4% decrease compared to the same time last year.

With the average price of a residential property being $619,049 we can see there was a 14% increase over June 2019. The average days a property was on the market also decrease by 4 days to only 21.6 days. Finally we can see that there was only a 10% decrease in the amount of listings in June, there were 1,160 and 1,024 active listings. 

RAHB June 2020 Statistics 

In June 2020 RAHB reported a total of 1,304 sales of residential properties, sales were up by 53% over May 2020 and only down 0.2% over June 2019. The average residential property price was reported to be up 13.7% to $675,223 and up 3% from last month. 

When we look at single family home sales, we can see it was reported that there was a decrease of 0.2%, with the average sale price seeing an increase of 13.7%. Townhouse sale activity saw an increase of 10% over June 2019, with the average sale price being $563,849. Finally, apartment-style properties had a reported decrease in sales by 13.5% in June 2020, with an average property price seeing an increase of 6.8%. 

"With the re-opening of the province, and the increased confidence in both the economy and the health of our communities, we are seeing higher activity in both sales and new listings throughout theRAHB market area. Typically, spring is busier than summer; however,COVID-19 seems to have pushed the market back a few months. Throughout the pandemic, the average price of a residential property in our market has held steady. If Ontario's recovery fromCOVID-19 continues, we shouldn't see a decrease; however, we are cautious that any relapse or second wave could slow the activity and affect average price." - 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 June 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. 

Real Estate News

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DateHeadline/Summary
Jul 03 June 2020 Activity Higher as the RAHB Market Area Moves into Stage 2 of Reopening
(Jul 3, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,304 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in June 2020. Sales are up 53 per cent over last month, and are down only 0.2 per cent over June of last year. The average price for residential properties was $675,223, which is up 13.7 per cent from June 2019, and up 3 per cent from last month. "With the reopening of the province, and the increased confidence in both the economy and the health of our communities, we are seeing higher activity in both sales and new listings throughout the RAHB market area. Typically, spring is busier than summer; however, COVID-19 seems to have pushed the market back by a few months," says RAHB President Kathy Della-Nebbia. "Throughout the pandemic, the average price of residential properties in our market has held steady. If Ontario's recovery from COVID-19 continues, we shouldn't see a decrease; however, we are cautious that any relapse or a second wave could slow activity and affect average price."
Jun 02 COVID-19 keeps activity low for May 2020, but market improves over April
(Jun 2, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 852 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in May 2020. Sales are down 42.2 per cent over May 2019, and up 43.4 per cent over last month. The average price for residential properties was $655,418, which is up 10 per cent from May last year, and up 6.3 per cent from last month. "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," says RAHB President Kathy Della-Nebbia. "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."
May 04 COVID-19 affects RAHB market area in April and REALTORS® work virtually to slow the spread
(May 4, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 482 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in April 2020. Sales are down 63.4 per cent over April 2019 and 56 per cent over last month. The average price for residential properties was $614,412, which is up 4.3 per cent from April last year, but down 6.6 per cent from last month. "The beginning of the year was quite active and we were anticipating a busy Spring; however, the number of new listings and sales within the RAHB market area for April were down compared to the previous month and year as a result of the measures that were taken by the province and my fellow REALTORS® to slow the spread of COVID-19," says RAHB President Kathy Della-Nebbia. "RAHB REALTORS® have been working remotely where possible to assist their clients to buy and sell properties when the need is vital. This includes virtual open houses and showings, and abiding by the provincial and public health guidelines to ensure everyone is healthy and safe."
Apr 02 COVID-19 affects RAHB market area in March and REALTORS® work virtually to slow the spread
(Apr 2, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,098 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in March 2020. Sales are up 10 per cent over last month, but down 3.1 per cent over March 2019. The average price for residential properties increased to $658,161, which is up 1.8 per cent from last month and up 14.5 per cent from the same month last year. "January and February saw increases in sales and new listings, as well as average price. For March there was growth at the beginning of the month; however, COVID-19 infiltrated our communities mid-month and slowed activity in the latter half," says RAHB President Kathy Della-Nebbia. "Our REALTORS® work to be a part of the solution in the fight to flatten the curve, all the while servicing clients who are in great need of their assistance. We are seeing the impact on our market activity and expect to continue to see a slowing of the market as our communities focus on this unprecedented fight."
Mar 03 RAHB market continues upward momentum in February
(Mar 3, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 998 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in February 2020. Sales are up 30 per cent over last month and up 25.5 per cent over February 2019. The average price for residential properties increased to $646,667, which is up 4.5 per cent from last month and up 15.5 per cent from the same month last year. "The RAHB market is quite active with a significant increase in number of sales compared to last month and last year. We experienced similar activity at the beginning of 2016, which was one of our busiest markets on record," says RAHB President Kathy Della-Nebbia. "With the increases in average price and new listings, overall we are firmly in a seller's market; however, there is greater demand at certain price points - such as below $600,000."
Feb 04 RAHB market bounces back after slow December
(Feb 4, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 692 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January 2020. Sales are up 5 per cent over the same month last year, and up 18.3 per cent over December 2019. The average price for residential properties increased by 11.9 per cent from January 2019 to $617,496. "Our market area experienced a reduction in activity and average price in December, as is the case for that typically slower month; however, we bounced back in January," says RAHB President Kathy Della-Nebbia. "Buyers seem to be coming out early, so sellers shouldn't feel the need to wait for the spring market to get a great value for their property. We expect the spring market will be strong with more competition between sellers, as many wait for the flowers to bloom to market their homes."
Jan 16 RAHB REALTORS® Release 2019 Year-End Statistics: A Modest Sellers' Market
(Jan 16, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 12,866 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in 2019. This is 10.1 per cent more sales than in 2018. The average price of a residential property in 2019 was $587,745. This is up 4.9 per cent from 2018, and 95.3 per cent higher from 10 years ago. New residential listings were down 4 per cent compared to the previous year. "The RAHB residential market has balanced out from the high activity experienced in 2016 and 2017; however, increases in average price and number of sales, paired with a decrease in new listings, indicates that 2019 favoured sellers more than in 2018," says RAHB CEO Carol Ann Burrell. "Buyers in 2019 were able to take more time to find their preferred, and in many cases more affordable, property compared to previous years, and so the sellers' market was not as noticeable."
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