Total Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 16,502 sales of residential properties within the RAHB market area for 2021. In this blog we’ll review the year-end real estate market statistics for the RAHB market area, as well as the Hamilton market.
These residential sales statistics were processed through the Multiple Listing Service® (MLS®) System in 2021. It was reported that the average price of a residential property within the RAHB market area was $867,560, this was a 25.74 per cent increase when compared to 2020. When we compare the average price of a residential property sale price in 2011, we can see that there was a 169.89 per cent increase. This increase took place over a ten year period, as reported by RAHB.
The above chart, Total Market Activity, allows us to compare each area within the RAHB real estate market area. We're able to see what the average price of a residential property was in 2021 and 2020, as well as how many sales were reported. It was reported that the area with the greatest number of sales for 2021 was the Hamilton Mountain. With a total of 2,373 sales in 2021 and an average property price of $763,467, this was an increase when compared to 2020.
It was reported that the area with the highest average property price for 2021 was, Flamborough. With an average property price of $1,281,380 and a total of 331 sales in 2021. Another area to take note of is Ancaster, with the second highest average residential property price of $1,186,531 and a total of 807 sales. Let’s now take a look at the below map, Average Residential Price by District, and get a closer look at each sub area in Hamilton.
Average Residential Price by District
The above map Average Residential Price by District, illustrates each individual sub area in Hamilton. These sub areas show us what the average price was for a residential property and how many sales there were in 2021. Sub areas that had the greatest number of sales in 2021 were, 16, 20, 42, 51 and 53.
It was reported that the area with the highest average residential property price was in Flamborough (sub areas 40, 43, 44 & 45), with an average price of $1,281,380. We can also see that the sub area with the greatest number of sales was area 51, which is located in Stoney Creek and had a total of 963 sales. The average residential property price in area 51 was $831,656. Let’s take a closer look at the real estate statistics for Hamilton in 2021 by looking at the next chart, Hamilton Residential Table for 2021.
Hamilton Residential Table
The final chart we’re going to review is the, Hamilton Residential Table, we can review the overall real estate statistics for Hamilton in 2021. It was reported that there was a total of 10,188 sales in 2021. This was an 11 per cent increase when compared to 2020.
It was also reported that when it came to the average price of a residential property price, there was a 26.8 per cent increase to $789,959. When it came to new listings in Hamilton, there was a total of 12,455 in 2021, which was a 9.9 per cent increase compared to last year.
REALTORS® Association of Hamilton-Burlington Year-End 2021 Statistics
To summarize, the REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 16,502 sales of residential properties within the RAHB market area in 2021. When it came to the average property price within the total RAHB market area, we saw a 25.74 per cent increase when compared to 2020, to $867,560.
“After a strong finish to the year in 2020, the market continued with feverish momentum fueled by high demand throughout 2021 which led to new records being recorded month after month.2021 marked the first year that greater than 16,000 residential transactions occurred in the RAHB market area with the previous record set in 2016. The record-high sales activity was supported by historically low mortgage rates. Real estate continues to be one of the best investments and it’s never too early to talk to a local RAHB REALTOR® about your real estate goals.” - RAHB’s 2022 President, Lou Piriano
For More Information About These Statistics
For more information on the 2021 year end market statistics please see the links below for the numerous year end statistical reports provided by the REALTORS® Association of Hamilton-Burlington (RAHB).
Contact a Sales Representative at Judy Marsales
If you have any questions about the year-end real estate statistics for Hamilton, we are happy to help! Please feel free to contact one of our sales representatives at Judy Marsales today.
Have you been curious about what your home is worth? Try our What’s My Home Worth calculator and find out. All of us at Judy Marsales are looking forward to working with you and helping you find the right home. Watch for our next blog in February where we’ll review the January 2022 real estate statistics and see what the start of the year has been like.