Hamilton Real Estate Market Statistics for August 2022
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 906 sales of residential properties within the RAHB market area for August 2022. The real estate statistics in this article reflect both the entire RAHB market area and the Hamilton market area.
It was reported by RAHB that there were a total of 1,641 new listings in August 2022. This was a decrease of eight per cent compared to July 2022 and an increase of 20 per cent compare to the same time last year.
The number of sales of residential properties within the entire RAHB market area was reported to have had an increase of 11.7 per cent compared to July 2022. However, this was a decrease of 24.2 per cent when compared to August 2022.
RAHB reported that the average price of a residential property within the entire real estate market area was $858.405. This was a decrease of 2.3 per cent compared to the previous month, and an increase of two per cent compared to the same time last year.
It’s now time to review the below chart, Residential Market Activity, and get a closer look at each area within the RAHB real estate market. Then we can compared the numbers to the previous year and see what has changed.
Residential Market Activity
The above chart, Residential Market Activity, allows us to review and compared the number of residential properties sold in August 2022 to the previous year. We’re also able to to see how the average price of a residential property increased or decreased.
RAHB reported that the area with the greatest number of residential property sales was the Hamilton Mountain. This area had a total of 126 sales and an average residential property price of $745,741.
When it came to the area with the second greatest number of residential property sales for August 2022, it was Hamilton Centre. This area reported a total of 79 sales with an average residential property price of $543,768.
Stoney Creek reported a total of 76 sales, making it the third area with the greatest number of sales for the month of August 2022. This area had an average residential property price of $785,926.
Another area to take note of was Flamborough, which had the highest average residential property price. This area had an average property price of $1,564,824 with a total of 17 sales in August 2022. While there was a decrease in the number of sales compared to August 2021, we can see that there was an increase in the average residential property price.
It’s also important to mention Burlington as it had 209 residential property sales. The city of Burlington reported that their average residential property price for August 2022 was $1,038,930. Making it one of the highest average residential property prices in the RAHB market area. Next we can take a look at the below map and get a better look at each area.
Average Residential Price by District
The above map, Average Residential Price by District, this map illustrates each area within the RAHB real estate market area. Today we’’re just going to focus on the Hamilton area of this map. The sub areas to note, that had the greatest number of sales in August 2022 were, 16, 17, 18, 42, 52 and 53.
Area 16, 17 and 18 are located within the Hamilton Mountain area and they had some of the greatest number of sales. Areas 16 and 18 had a total of 29 sales and area 17 had a total of 32 for the month of August 2022. Check out the list below to see the break down of the Hamilton Mountain total sales per area and what the average residential sale prices were.
Ancaster (area 42) had a total of 36 sales and an average residential property price of $1,300,880. Making it another notable area with one of the greatest number of residential property sales.
The Hamilton Mountain was reported by RAHB to have had a total of 126 sales with an overall average residential property price of $745,741. We can see that while there was a decrease in the number of sales there was an increase in the average residential property price.
This area, Hamilton Mountain, consists of the sub areas, 15, 16, 17, 18, 25 and 26. Listed below is a break down of each of these sub areas with their average property price and total number of sales for August 2022.
- Area 15 — 13 sales, average residential property price $849,577
- Area 16 — 29 sales, average residential property price $754,138
- Area 17 — 32 sales, average residential property price $642,684
- Area 18 — 29 sales, average residential property price $819,903
- Area 25 — 14 sales, average residential property price $721286
- Area 26 — 9 sales, average residential property price $734,197
Continue to take a look a the map and see what area you live in, then you can get an idea of what your property may have been in August 2022. It’s now time to turn our attention to the final chart the, Hamilton Residential Table.
Hamilton Residential Table
The final chart that we’re going to review in this article is the above chart the, Hamilton Residential Table. This chart allows us to see what the real estate market statistics were for the Hamilton area.
It was reported by RAHB that the average price of a residential property in August 2022 was $792,767. This was a 1.7 per cent decrease compared to the same time last year. There were 537 sales in Hamilton in August 2022 which was a 29.6 per cent decrease compared to the same time last year.
There were a total of 957 new listings reported in Hamilton in August 2022, this was a 10.9 per cent increase when compared to August 2021. The median price of a residential property in August was reported to have been $710,000. This was a 2.7 pre cent decrease compared to the same time last year.
REALTORS® Association of Hamilton-Burlington August 2022 Real Estate Statistics
The REALTORS® Association of Hamilton-Burlington reported a total of 906 sales of residential properties within the RAHB market area in August 2022. This was an increase of 11.7 per cent compared to July 2022.
It was reported by RAHB that there were a total of 1,641 new listings in August 2022. This was an eight per cent decrease compared to the previous month and a 20 pre cent increase compared to August 2021.
The average residential property price within the entire RAHB market area for August was reported to have been $858,405. This was an increase of two per cent compared to the same time last year.
It was reported that when it came to detached properties there was a total of 564 sales. This was a 23.7 per cent decrease compared to August 2022. The average price of this type of property was reported to have been $963,565. This was a decrease of 2.2 per cent compared to July 2022 but it was an increase of 1.4 per cent compared to the same time last year. Finally, there were a total of 1,077 new listings, this was a 20.2 per cent increase compared to August 2022.
The next property type we’ll review are townhouse, there were a total of 178 sales of this type of property. This was an 24.9 per cent decrease compared to the same time last year. The average price of this type of property was reported to have been $747,344. This was a 0.4 per cent increase compared to August 2021. There were a total of 256 new listings, which was a 16.4 per cent increase compared to the same time last year.
The final property type we’ll take a look at is apartment-style properties. There were a total of 108 sales, which was a 31.6 per cent decrease when compared to August 2021. The average price of this type of property was $570,666, this was an 8.7 per cent increase compared to the same time last year. There were a total of 221 new listings of apartment-style properties, which was a 22 per cent increase compared to the August 2021.
“RAHB witnessed a rare occurrence for August 2022 as the number of sales increased and the number of new listings to market dropped from July 2022. As this is not a typical pattern for August, this may suggest that sales activity may have bottomed out in July. Meanwhile, RAHB is again seeing certain areas and property categories performing better than others. For example, Haldimand County experienced an overall residential average sale price increase of 3.9 per cent, and the townhouse segment in Burlington saw an average sale price bump of 5.6 per cent. With these variations in mind, contacting a RAHB REALTOR® before you buy or sell remains a key element to help you navigate the local market.” - RAHB President Lou Piriano.
For More Information About These Statistics
If you’re looking for a more in-depth matrix of these statistics, please refer to the Hamilton Real Estate Statistics for August 2022.
Contact a Sales Representative at Judy Marsales LTD. Brokerage
There was a lot that was covered in this article and you might have some questions about the August real estate statistics. Please feel free to contact one of our sales representatives at Judy Marsales. Please also feel free to contact us at one of our three real estate office locations that serve the Hamilton and surrounding areas, any time.
Have you been curious about what your home might be worth? Give our “What’s My Home Worth” calculator a try and find out. Everyone at Judy Marsales is looking forward to meeting with you soon and helping you find the home you’ve been looking for.