Current Market Statistics for January 2020

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

The Real Estate Association of Hamilton-Burlington (RAHB) have released their January 2020 statistics. In this article we will review and summarize these statistics for you. It's always important to note the number of sales that there were in a month. For January 2020, there were a reported 692 sales of residential properties within the RAHB market area. 

It was reported that there was a 5% increase in sales compared to the same month last year. And there was an 18.3% increase over December 2019, it was also reported that the average price of residential properties increased by 11.9% from January 2019 to $617,496. 

In the above chart, Residential Market Activity for RAHB Areas, we can see that the area with the most sales of residential properties with a total of 111 sales, was the Hamilton Mountain. And with an average property price of $518,368. This is a clear increase in the average property price for the area when compared to the same time last year. 

Another area we can turn our attention to is Stoney Creek, which saw 89 sales of residential properties. With a reported average sale price of $591,600. We can now take a look at the map below and see a more details about each sub area in the Hamilton real estate market. 

average-residential-price-by-district-jan-2020

The above map, Average Residential Price by District, illustrates the average cost of a property in each individual area. This map also shows us how many residential properties were sold in January 2020. Sub areas to take note of that had the highest number of sales were, 16, 17, 42 and 51. 

Areas with the highest price of residential properties were Ancaster and Flamborough. Ancaster had an average residential property price of $762,957. Making it the most expensive area on our RAHB map and with a total of 42 sales. Flamborough had an average residential property price of $703,324 and with a total of 17 sales. Let's now take a look at the chart below and learn more about the Hamilton Residential Table. 

hamilton-residential-table-jan-2020

Our last chart, Hamilton Residential Table, shows us that there was a 15% increase in sales compared to January 2019. And that there were a total of 485 sales in the Hamilton area with 733 new listings. However, there was a 13% decrease over January 2019 but that we also saw a 13% increase in the average cost of a residential property to $562,235. 

We can also take a look at the numbers of days a property was on the market. The average days for January 2020 decreased to 34.1 days, that's 7.9 days less than the same time last year. These statistics are always helpful when we want to better understand the real estate market. 

RAHB Statistics for January 2020 

In January 2020 there were a reported 692 sales of residential properties. And it was reported that sales were up by 5% over the same time last year. With an 18.3% increase in sales over December 2019. And it was reported that the average price of a properties within the RAHB market area was up by 11.9% to $617,496.

The number of sales for a single family property saw an increase of 10% compared to January 2019. And the average price of a family property increased by 9.4% in January 2020. Townhome sales activity saw a decrease of 6.2% with the average price increasing by 10.8% to $518,361. And finally, apartment-style properties also saw a decrease in sales by 1.4% but saw an increase in the average price by 9.6%. 

"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. 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." - 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 RAHB's Hamilton Real Estate Statistics for January 2020. 

Contact a Sales Representative at Judy Marsales 

Have questions about these January 2020 statistics? You can contact one of our sales representatives at any of our three locations today and they would be happy to help you. And if you've been wondering what your home is worth, you can try our What's My Home Worth calculator and find out. 

 

Real Estate News

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DateHeadline/Summary
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."
Nov 04 RAHB REALTORS® Release October 2019 Statistics
(Nov 4, 2019 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,145 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in October 2019. October sales are up from September and August, as well as up from October 2018 by 6.4 per cent. The average price for residential properties increased by 7.1 per cent from October 2018 to $602,029. "The RAHB market area experienced more activity in October with an increase in number of sales from last month, as well as from the previous year, which is good news for sellers," says RAHB President Bob Van de Vrande. "The number of new listings dropped by eight per cent compared to October 2018, and by nearly 12 per cent since last month, so there was less choice for buyers."
Oct 02 RAHB REALTORS® Release September 2019 Statistics
(Oct 2, 2019 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,020 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in September 2019. September sales are down from August and July, but are up from September 2018 by 3.2 per cent. The average price for residential properties increased by 8.5 per cent from September 2018 to $609,562. "With an increase in the number of homes currently available, and a more relaxed pace in the market, this may be an ideal opportunity for buyers to purchase their dream home," says RAHB President Bob Van de Vrande."
Sep 03 RAHB REALTORS® Release August 2019 Statistics
(Sep 3, 2019 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,067 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in August 2019. August sales are down from July and June of this year, as well as August of 2018; however, the 2019 year-to-date number of sales is up 10.2 per cent over 2018. The average price for residential properties increased by 6.4 per cent from August 2018 to $599,589. "The year-to-date number of sales is higher in 2019 compared to 2018 because we had a stronger spring," says RAHB President Bob Van de Vrande. "If the average price continues to increase and inventory stays low, we may shift out of the balanced market we've been experiencing over the last year and a half as we move into a busy fall."
Aug 01 RAHB REALTORS® Release July Statistics
(Aug 1, 2019 - Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,170 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in July 2019. This is a 10.3 per cent increase from July last year; however, a 2.7 per cent decrease over June 2019 and a 12.9 per cent decrease from May 2019. The average price for residential properties increased by 0.9 per cent from July 2018 to $593,702. "A yearly real estate cycle sees peaks in spring and fall, with a typically slower summer," says RAHB President Bob Van de Vrande. "Average prices have stayed fairly stable since the spring high, which could point towards a healthy fall market when we could see the number of sales edge higher again."
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