Hamilton Real Estate Market Statistics for April 2022

residential-market-activity-for-rahb-areas-april-2022

Residential Market Activity

The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,298 sales of residential properties within the RAHB market area for April 2022. These statistics in this article reflect the entire RAHB market area and also just the Hamilton real estate market area.

When it came to the amount of sales of residential properties for the month of April 2022, there was a decrease of 20.7 per cent month over month. Sales were reported to have had a decrease of 31.3 per cent when compared to the same time last year.

RAHB reported that new listings in the entire market area had a 3.6 per cent decrease month over month, with a total of 2,451 sales. Compared to the same time last year this was a 7 per cent decrease.

When we look at what the average residential sale price was in the entire RAHB market area we can see that it was reported to have been $1,013,081 in April 2022. This was a 5.6 per cent decrease when compared to March 2022 and an 18.2 per cent increase when compared to April 2021.

The above chart, Residential Market Activity, allows us to see the number of sales and the average residential sale price for each area within Hamilton. We are then able to compare these numbers to the same time last year.

It was reported by RAHB that the area with the greatest number of residential property sales was the Hamilton Mountain. This area reported a total of 183 sales, with an average residential property price of $891,355. While there appeared to be a decrease in the number of sales, there was an increase in the average sales price of a residential property when compared to April 2021.

Now, taking a look at the area that was reported to have had the highest average residential property price we can once again look at Flamborough. This area reported that the average price of a residential property was $1,554,369, with a total of 29 residential property sales. Similarly to the Hamilton Mountain, we see that there was a decrease in the number of sales, but an increase in the residential sale price when compared to the same time last year.

It’s important that we also take note of the Burlington area, it was reported that there were a total of 276 sales. This is the greatest number of sales featured in the above chart. When it came to the average residential sale price, it was reported to have been $1,228,723. Once again we’re seeing a decrease in the amount of sales but an increase in the residential property price, when compared to April 2021. Let’s now take a look at the below map and get a closer look at each neighbourhood within Hamilton.

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Average Price by District

The above map, Average Price by District, illustrates each area within the Hamilton real estate market. The map allows us to see what the average price was and the number of sales there were in April 2022. The sub areas that we need to take note of for April 2022, that had the greatest number of sales, were; 42, 46, 50, 51 and 53.

It was reported by RAHB that the sub area with the greatest number of sales was area 51, located in Stoney Creek. This area had a total of 60 sales, with an average residential sale price of $1,033,685.

RAHB reported that when it came to the area that had the highest average residential property, it was once again Flamborough (40, 43, 44, 45). This area reported that the average residential property price was $1,554,369, with a total of 29 sales. The final chart we’re going to review is the Hamilton Residential Table, we can get a look at the overall numbers for Hamilton.

hamilton-residential-table-april-2020

Hamilton Residential Table

The final chart we’ll review today is the above chart the, Hamilton Residential Table, giving us a closer look at the overall number for the Hamilton area. It was reported by RAHB that the average price of a residential property was $949,149. This was a 20.9 per cent increase when compared to the same time last year.

When it came to the amount of sales, RAHB reported that in Hamilton there was a decrease of 33.9 per cent, when compared to the previous year, with a total of 783 sales. New listings also saw a decrease in April 2022, with a total of 1,466 this was a 14.1 per cent decrease compared to the same time last year.

The chart also shows us that when it came to the average number of days a listing remained on the market the same with a total of 10 days. The median price of a residential property had a 17.6 per cent increase when compared to April 2021, to $870,000.

REALTORS® Association of Hamilton-Burlington April 2022 Statistics

The REALTORS® Association of Hamilton-Burlington reported a total of 1,298 sales of residential properties within the RAHB market area for April 2022. Residential property sales had a decrease of 20.7 per cent month over month. Sales were reported to have had a decrease of 31.3 per cent when compared to the same time last year.

When we look at the average price of a detached single-family property for April 2022 we can see that it was $1,135,799 for the entire RAHB market area. This is an 18.9 per cent decrease compared to the same time last year.. There were 867 sales, which was a 21.3 per cent decrease month over month. When compared to April 2021, sales had a 32.1 per cent decrease.

Townhouses in the RAHB market area had a total of 232 sales, this is a decrease of 38.9 per cent compared to the same time last year. The market area saw a total of 466 new townhouse listings, this was a decrease of 11.7 per cent when compared to April 2021. It was reported that the average sale price of a townhouse was $865,862. This was an increase of 21.3 per cent when compared to the same time last year.

Finally, when we look at the numbers for apartment-style properties we can see that there were a total of 184 sales within the entire RAHB market area. The average price of one of these properties in April 2022 was $647,411, a 6.5 per cent decrease compared to the same time last year. New listings of apartment-style properties were reported to have been a total of 284. Which is a decrease of 6.3 per cent when compared to the previous year.

“With the exception of last year, new listings coming to market exceed that of every other April for the last ten years. With the increase in inventory, buyers are finally experiencing more choices in the market. While inventory is still below the norm, we finally see signs of a more balanced market as the number of active listings increases. The rise in interest rates has likely attributed to a decrease in the number of sales month over month in every residential property category across the RAHB market area. While average prices remain strong, and still above the $1 million mark, we did experience another dip for the second month in a row.” - RAHB President Lou Piriano.

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 April 2022.

Contact a Sales Representative at Judy Marlsales

If you have any questions about these Hamilton Real Estate Statistics, please feel free to contact one of our sales representatives at one of our three locations. You might also be interested in what your home might be worth, give our What’s My Home Worth calculator a try!

Residential Market Activity and HPI Reports

Real Estate News

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DateHeadline/Summary
May 03 Signs of a Balanced Market Returning to RAHB Area
(May 3, 2022 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,298 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in April 2022. Sales were down by 20.7 per cent month over month, and down by 31.3 per cent compared to April 2021. There were 2,451 new listings in April, which was down 3.6 per cent month over month, and compared to April 2021, there was a decrease of 7 per cent. The average sale price for residential properties across the RAHB market area was $1,013,081, which was down 5.6 per cent over the previous month, and up 18.2 per cent compared to April 2021. The inventory of listings increased to 1.2 months of inventory in April compared to 0.7 months in March.
Apr 05 Strong Listings and Sales Activity in March
(Apr 5, 2022 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,637 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in March 2022. Sales were up by 33.3 per cent month over month, and down by 21.1 per cent compared to March 2021. There were 2,542 new listings in March, which was up 51.7 per cent month over month, but compared to March 2021, there was a decrease of 6.2 per cent. The average sale price for residential properties across the RAHB market area was $1,073,342, which was down 2.7 per cent over the previous month, and up 22.8 per cent compared to March 2021. The inventory of listings remains low at 0.7 months.
Mar 02 Sales and New Listings Climb in February
(Mar 2, 2022 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,228 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in February 2022. Sales were up by 71 per cent month over month, and down by 4.4 per cent compared to February 2021. There were 1,675 new listings in February, which was up 84.2 per cent month over month, but compared to February 2021, there was only a 1.2 per cent increase. The average price for residential properties across the RAHB market area was $1,104,163, which was an increase of 4.2 per cent over the previous month, and an increase of 30.3 per cent compared to February 2021. The inventory of listings remains low at 0.6 months.
Feb 02 Record-High Average Residential Sale Price to Start 2022
(Feb 2, 2022 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 718 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in January 2022. Sales were down by 11 per cent month over month, and also decreased by 13.5 per cent compared to January 2021. New listings were up by 40.9 per cent month over month, but compared to January 2021, there was a decrease of 11 per cent. The average price for residential properties was $1,058,756, which was an increase of 13.6 per cent from December, and an increase of 34.7 per cent compared to January 2021. The inventory of listings remains low at 0.6 months.
Jan 20 RAHB REALTORS® Release 2021 Year-End Statistics: An Unprecedented Market
(Jan 20, 2022 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 16,502 sales of residential properties processed through the Multiple Listing Service® (MLS®) System in 2021. This is a 10.5 per cent increase from 2020. The average price of a residential property in 2021 was $867,560 across the RAHB market area. This is up 25.74 per cent from 2020. The average price in 2011 was $321,449 which represents a 169.89 per cent increase over ten years. New residential listings increased by 7.7 per cent compared to 2020.
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