When we take a look at the above chart, Residential Market Activity for RAHB Areas, we can clearly see that the hottest area for Hamilton in January 2019 was the Hamilton Mountain with a total of 103 sales. Another area to note would be Hamilton Centre. This area saw a total of 53 sales for the month of January and compared to the same time last year, we can see a clearly see an increase.
By looking at the above map, Average Residential Price by District, it's clear that the area with the highest costing homes was the Hamilton Beach (area 2). The average cost of a home in that area was $920,000. However we can also clearly see that the hot areas in Hamilton remain from the Bay to the Escarpment. The sub areas being, 20, 51, 42 and 53, all had the highest number of sales.
And finally we come to the chart, Hamilton Residential Table. By looking at this chart we can compare January 2019 with the same month last year. By comparing them we can see that the number of new listings has increased in January 2019. In that month we saw a total of 809 new listings compared to the same time last year it was 661. The chart also indicates that the average time a home is on the market for the month of January 2019 was 42.3 days. Which is very similar to the same time last year. It's also very clear that the average cost of a home has gone up by 6%.
There was a reported 593 sales for the month of January located in the RAHB areas. There was also a 3.6% drop from the same time last year. And the average price of a home for the entire area was up by 4.7% to $550,058.
"This is a promising start to 2019. For sellers, the average price of a home has increased over 100% since 2009. For buyers, sales activity has slowed, the number of new listings has increased, and we are sitting firm in a balanced market. The January numbers have picked up since the downturn we experienced in December." - RAHB CEO George O'Neil.
For more in-depth statistics and additional metrics, please refer to RAHB's REALTORS® RELEASE JANUARY STATISTICS
If you've been thinking of selling your home, you can also get in contact with one of our agents , they will be happy to go over the market stats with you and discuss possible next steps. And if you're wondering what your home is worth, you can try out will cost by useing our "What's My Home Worth" calculator.