Residential Market Activity
The The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,201 sales of residential properties within the RAHB market area for August 2021. Sales were reported to be down five per cent when compared to July 2021, and were also reported to be down five per cent when compared to the same time last year.
When it came to new listings also saw a decrease, they were down 9 per cent from July 2021 and down 15 per cent when compared to August 2020. The average cost of a residential property for the entire RAHB market area for July 2021 was reported to be $839,881. That was a decrease of one per cent from the previous month and 21 per cent compared to the same time last year.
The above chart, Residential Market Activity, let’s us see how Hamilton and surrounding areas did in terms of sales and what the average price of a residential property was in August 2021. We can then compare the average cost of a residential property to the same time the previous year. The chart also allows us to see how many properties were sold during the month and compare the numbers to the previous year.
it was reported that the Hamilton Mountain had the highest number sales, with a total of 174 and an average property price of $731,673. The area that had the highest average property price was Flamborough. The average property price in Flamborough was reported to be $1,354,803 in August 2021. This area also reported a total of 22 sales for the month, a slight decrease when compared to the same time last year. Let's now take a look at the map below and get an even closer look at how Hamilton and the surrounding areas did in terms of sales and property prices for August 2021.
Average Price by District
The above map, Average Price by District, illustrates each neighbourhood within the Hamilton and surrounding areas. The aub areas that we should take note of for August 2021 are; 16, 17,42, 46 and 51. Each of these sub areas had the highest number of sales for the month.
Flamborough once again had the highest average property price when compared to all other areas. The cost of a property in this area was reported to be $1,354,803, with a total of 22 sales for August 2021. As mentioned above, the neighbourhood with the highest number of sales was the Hamilton Mountain. With a total of 174 sales and an average residential property price of $731,673. The sub area with the highest number of sales was area 51, with a total of 67 sales, this area is located in Stoney Creek. The average residential property price in area 51 was $799,021. It’s time to take a look at our final chart, the Hamilton Residential Chart and get a closer look at how Hamilton's real estate market did in August 2021.
Hamilton Residential Chart
Our final chart to review is the, Hamilton Residential Chart. This chart allows us to see the overall real estate statistics for August 2021. In Hamilton there were a total of 766 sales, this is a decrease of 22 per cent when compared to the same time last year. When it came to the average cost of a residential property it was reported to be $779,486, that’s an 18 per cent increase compared to August 2020.
REALTORS® Association of Hamilton-Burlington July 2021 Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of reported a total of, 1,201 sales for August 2021. When it came to sale, it was reported to be down five per cent when compared to July 2021, and were also reported to be down five per cent when compared to the same time last year. The average price of a residential property was reported to be $839,881, a decrease of one per cent from the previous month and 21 per cent compared to the same time last year.
It was reported that detached homes the RAHB area saw a bit of an increase when it came to the average price compared to July 2021. However, there was a 10 per cent decrease in detached homes in August. Townhouse sales had a decrease in sales compared to July 2021. With the number new listings of townhouses having a 20 per cent decrease, and the average sale price had a 2 per cent decrease to $746,339. Apartment-style properties in the RAHB market area had a 10 per cent decrease when it came to new listings in August 2021, with an average price of $530,732, which is a 2 per cent increase.
“In line with seasonal trends, July and August tend to have fewer new listings and sales which is exactly the case here. Even though we have fewer active listings and sales, we are also seeing a slight dip in the average sale price. Overall the same story continues and that is that the level of inventory remains at critical low levels. We definitely need more supply on the market.” - 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 to the Hamilton Real Estate Statistics for August 2021.
Contact a Sales Representative at Judy Marsales
If you have any questions about the August 2021 statistics please contact one of our sales representatives and they will be happy to help. If you’ve ever wondered what you home is worth you can give our What’s My Home Worth calculator a try. All of us at Judy Marsales are looking forward to working with you soon and helping to find the house of your dreams.