Current Market Statistics for December 2020

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

Residential Market Activity

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 913 sales of residential properties in December 2020. It was also reported that sales were down 24 per cent when compared to the same time last year. When it came to new listings it was reported that there was a decrease of 47.9 per cent when compared to November 2020. However, there was an increase of 34 per cent when compared to December 2019. The average price of a residential property was up by 1 per cent from last month and up 25.4 per cent over December 2019. The average price of a property in December 2020 was $729,853.

The above chart, Residential Market Activity, shows us what neighbourhoods in the Hamilton and surrounding area had the highest number of sales, and what their average property price was. The Hamilton Mountain had a total of 116 sales, making it the area with the highest number of sales. The average price of a residential property on the Mountain was $644,764.

When it came to the area with the highest average cost of a residential property, it’s once again Flamborough, with a total of 15 sales and an average price of $1,079,500. Let’s now turn our attention to the below map, Average Residential Price by District.

average-price-by-district-december-2020

Average Residential Price by District

The above map, Average Residential Price by District, illustrates each area in Hamilton, showing us the average price plus the amount of sales. Areas that we should take note of for December 2020, that had the highest number of sales were; 17, 42, 51 and 53.

Flamborough was once again the area that had the highest average residential property price, as mentioned in the section above. The average cost of a residential property in this area was $1,079,500 and it had a total of 15 sales. The area that had the highest number of sales in December 2020 was area 51, located in Stoney Creek. Now it’s time to take a look at our final chart, Hamilton Residential Table.

hamilton-residential-table-dec-2020

Hamilton Residential Table

Finally we can take review the Hamilton Residential Table and learn more about the statistics for the Hamilton area. This table breaks down the overall number for Hamilton’s December 2020 statistics. It was reported that there were a total of 577 sales of residential properties, a 30 per cent increase over December 2019 and a total of 913 sales in the entire RAHB market area.

The average price of a residential property in December 2020 was $661,783, which is a 15 per cent increase compared to the same time last year. It was also reported that the average days a property was on the market was 11.5 days, this is a 13.5 day decrease compared to the same time last year.

REALTORS® Association of Hamilton-Burlington December 2020 Statistics

The REALTORS® Association of Hamilton-Burlington reported a total of 913 sales in the entire RAHB market area in December 2020. That’s a decrease of 26 per cent when compared to sales last month, and an increase of 41.6 per cent when compared to the same time last year.

The number of listings saw a decrease of 47.9 per cent over November 2020 and the average price of a residential property was $729,853. This is a 1 per cent increase over last month and a 25.4 per cent increase over December 2019.

When it came to the sale of single family properties there was a 37.8 per cent increase in December 2020. It was also reported that the number of new listings was up by 34 per cent over the previous year and the average price saw an increase of 29.3 per cent to $829,226. Townhouses also saw an increase of 52.8 per cent in sales activity and new listings seeing an increase of 48.7 per cent. The average sale price of a townhouse increase by 23.3 per cent to $615, 775. Finally, apartment-style properties had a 43 per cent increase in sales from the same time last year, and new listings increased by 44.5 per cent. The acreage cost of an apartment-style property saw a 9.7 per cent increase to $475,330.

“We can see that the market has slowed from November, which is normal due to the holiday season, as well as increasing COVID-19 cases throughout the province, and more regions in Ontario placed into lockdown throughout December. Despite being in either the Red Zone (Control) or Grey Zone (Lockdown) throughout December, we do not see the effects on the number of sales and new listings that we did in the spring lockdown. This activity could be the result of continued low interest rates, coupled with increasing consumer confidence due to the approval of the COVID-19 vaccine in Canada.” Says 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 December 2020.

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Residential Market Activity Reports

Real Estate News

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DateHeadline/Summary
Jan 05 Untraditional year ends with an untraditional December: RAHB market saw a sizeable boost
(Jan 5, 2021 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) eported 913 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December 2020. Sales were down 25.95 per cent over last month, but up 41.6 per cent over December of last year. New listings were down 47.87 per cent over November 2020 and up 34 per cent over last December. The average price for residential properties was $729,853, which was up 1.04 per cent from last month and up 25.4 per cent from December 2019. The number of active listings available at the end of the month was 52.2 per cent lower compared to the previous year.
Dec 02 Inventory is Low and Demand is High in November
(Dec 2, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,233 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in November 2020. Sales were down 24.12 per cent over last month, but up 17 per cent over November of last year. New listings were down 28.98 per cent over October 2020 and up 16.3 per cent over last November. The average price for residential properties was $722,317, which was up 0.11 per cent from last month and up 21.2 per cent from November 2019. The number of active listings available at the end of the month was 40.8 per cent lower compared to the previous year.
Nov 03 Historically low active listings continue in October
(Nov 3, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,615 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in October 2020. Sales were down 7.6 per cent over last month and up 23.7 per cent over October of last year. New listings were down 12.8 per cent over September 2020 and up 5.5 per cent over last October. The average price for residential properties was $721,523, which was up 0.02 per cent from last month and up 19.8 per cent from October 2019. The number of active listings available at the end of the month was 39.8 per cent lower compared to the previous year.
Oct 02 Sales and average price at record levels; Active listing remain low
(Oct 2, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,751 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in September 2020. Sales are up 37.67 per cent over last month and up 53.9 per cent over September of last year. New listings are up 32.67 per cent over August 2020 and up 8.5 per cent over last September. The average price for residential properties was $721,354, which is up 3.8 per cent from last month and up 19.8 per cent from September 2019. The number of active listings available at the end of the month was 40.4 per cent lower compared to the previous year.
Sep 02 Typical August Market In a Year That Is Not
(Sep 2, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,272 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in August 2020. Sales are down 21.14 per cent over last month and up 12.7 per cent over August of last year. New listings are down 16.1 per cent over July 2020 and up 7.3 per cent over last August. The average price for residential properties was $694,690, which is up 0.24 per cent from last month and up 16.3 per cent from August 2019. The number of active listings for the month was down 18.6 per cent over last year.
Aug 05 July 2020 Activity Higher Than Typical Summer Months
(Aug 5, 2020 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,613 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in July 2020. Sales are up 23.7 per cent over last month and up 27.8 per cent over July of last year. New listings are up 15.5 per cent over June 2020 and up 8.8 per cent over last July. The average price for residential properties was $692,999, which is up 2.6 per cent from last month and up 16.3 per cent from July 2019. The number of active listings for the month was down 21.4 per cent over last year. "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."
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."
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