Current Market Statistics for April 2020

residential-market-activity-for-rahb-area-april-2020

The Real Estate Association of Hamilton-Burlington (RAHB) just released their April 2020 Statistics. This article will be reviewing and summarizing these statistics. It was reported that there were 482 sales in April 2020. Sales were down 63.4% over April 2019 and 56% over last month. it was also reported that the average price of a residential property was $614,412, which means there was an increase of 4.3% from April last year, but down 6.6% compared to last month. 

When we take a look at the above chart, Residential Market Activity, we can see that the Hamilton Mountain had the most sales with a total of 74. The area reported an average property price of $555,624. Another area to note is Hamilton Centre, which saw a total of 56 sales for the month of April. With an average residential property price of $430,145. Let's now turn our attention to the map below and get a better look at each area in Hamilton. 

average-residential-price-by-district-april-2020

The above map, Average Residential Price by District, allows us to view the entire Hamilton area and surrounding areas. And it allows us to see how each individual has done for the month of April in terms of sales and average property price. Sub areas to note are that had the most properties sold are; 18, 42, 50 and 51. 

Areas with the highest average property price for the month of April 2020 were; Ancaster, Dundas, Waterdown and Flamborough. Ancaster reported an average property price of $819,378 and had a total of 30 sales. Waterdown reported an average property price of $720,541 and had a total of 17 sales. Flamborough had an average property price of $664,683, with a total of only 9 sales in April. Finally, Dundas reported an average property price of $646,734 and reported a total of 19 sales. Let's now turn our attention to the chart below and review the statistics a bit closer with the Hamilton Residential Table. 

hamilton-residential-table-april-2020

The final chart that we will review today is the Hamilton Residential Table. By reviewing this chart we are able to see everything from the total number of sales to the average days a property was on the market. The COVID-19 pandemic has had a clear impact on the real estate market with numbers being lower than what we are used to seeing. But with that being said the average price of a property was up by 6% to $559,559. 

For the month of April 2020, Hamilton saw a total of 337 sales of residential properties, which was down 59% compared to the same time last year. However, the average days a property was on the market actually went down by 1.6% to 23.9 days. And it was reported that the months inventory was up by. 

RAHB April 2020 Statistics 

The April 2020 Real Estate statistics reported a total of 482 sales of residential properties, located in the RAHB market area. Sale were reported to be down 63.4% over April 2019 and 56% over last month. The average residential sake price was reported to be $614,412, which is up 4.3% compared to the same time last year. 

It was reported that when it came to single family homes, RAHB reported a decrease of 60.8% when compared to the same time last year. Townhouse sales activity also saw a decrease in April of 67.1% and they also saw a 8.8% decrease in price. Apartment-style property sales saw a decrease by 70.9% from April 2019, with their average price dropping by 3.8%. 

"The beginning of the year was quite active and we were antcipating 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. 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." - 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 April 2020

Contact a Sales Representative at Judy Marsales 

Have questions about these April 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 right now. 

Real Estate News

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DateHeadline/Summary
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."
Jan 03 RAHB REALTORS® Release December 2019 Statistics
(Jan 3, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 585 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December 2019. This years December sales are up 3.9 per cent over December 2018; however, are down from both November and October of this year. The average price for residential properties increased by 7.6 per cent from December 2018 to $581,566. "With the holidays and cold weather, sales tend to dip in December when compared to the previous months. It's a trend we see almost every year," says RAHB President Kathy Della-Nebbia. "A decrease in new listings and an increase in sales can equal less inventory on the market. With increased competition for the properties available, this looks to be an opportune time to sell your property."
Dec 03 RAHB REALTORS® Release November 2019 Statistics
(Dec 3, 2019 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 955 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in November 2019. November sales are down from October and September, but up from November 2018 by 5.5 per cent. The average price for residential properties increased by 5.6 per cent from November 2018 to $591,334. "As we near the end of the fall market for 2019, the number of sales and the average price within the RAHB market area are down from the previous month, but up from November of last year," says RAHB President, Bob Van de Vrande. "This decrease in listings and a higher ratio of solds to listings indicate that the market is currently an opportune time for sellers to consider listing."
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