Residential Market Activity
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 718 sales of residential properties within the RAHB market area for January 2022. Sales of residential properties were reported to have had a decrease of 11 per cent in January 2022 and a decrease of 13.5 per cent compared to the same time last year.
It was reported that the average price of a residential property in January 2022 was $1,058,756. This was a 13.6 per cent increase from December 2021 and a 34.7 per cent increase compared to January 2021. While the average price of a residential property saw an increase in January, and when it came to active new listings, they remained low at 0.6 months.
The above chart, Residential Market Activity, shows us each area within Hamilton and the surrounding areas. We are able to see what area had the highest average residential property price as well as what area had the greatest number of sales.
It was reported by RAHB, that the area with the highest average residential property price was Flamborough. The price of a residential property in this area was reported to be $1,744,621. There were a reported 20 sales in this area for January 2022.
The area that was reported to have the greatest number of sales in Hamilton for January 2022 was the Hamilton Mountain. This area had a reported 94 sales, with an average residential property price of $901,855. We should also note that Burlington had a total of 147 sales, with an average residential property price of $1,369,337.
Ancaster was close behind Burlington when it came to the average property price, which was $1,359,010 and a total of 38 sales. The below map shows an more in-depth look at the Hamilton market area in regards to property sales and average sale prices.
Average Price by District
The above map, Average Price by District, illustrates each area within the Hamilton real estate market area. It shows us what the average price of a residential property was in January 2022, as well as how many sales were reported. The sub areas we should take note of for January 2022, that had the greatest number of sales were; 16,42,51 and 53.
RAHB reported that the area with the highest average residential property price was Flamborough, it was reported to be $1,744,621 (sub areas 40,43,44 and 45). It was also reported that Flamborough had a total of 20 sales for January 2022.
The above map also illustrates that the sub area that had the greatest number of sales, which was area 42, located in Ancaster. This area had a total of 38 sales and an average residential property price f $1,359,010. Let’s now take a look at the chart below, Hamilton Residential Table, so we can get a closer look at Hamilton’s overall real estate statistics.
Hamilton Residential Table
The final chart that we will review today is the, Hamilton Residential Table, which shows us the overall real estate statistics for January 2022. It was reported that the average residential property price was $976,423. This was a 34.4 per cent increase when compared to the same time last year.
When it came to the amount of residential property sales, there were a reported 404 sales, this was a 16.9 per cent decrease compared to January 2021. New listings also saw a decrease of 13.3 per cent, with a total of 535.
The average number of days that a listing remained on the market decreased by 4.7 days, resulting in a total of 15.4 days. It was also reported that the medium price of a residential property had a 32.9 per cent increase compared to the same time last year and was $888,000.
REALTORS® Association of Hamilton-Burlington January 2022 Statistics
To summarized, the REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 718 sales of residential properties within the RAHB market area for January 2022. The sales of residential properties saw a decrease of 11 per cent and a decrease of 13.5 per cent compared to January 2021.
When it came to the average price of a single-family detached residential property, it stayed above $1,000,000 across the RAHB market area. In Hamilton area the average price of a single-family detached property was reported to be $1,089,916. That was an increase of almost 18 per cent month over month. There were 290 new listings for this type of property reported in January 2022.
It was reported that the number of sales of townhomes within the RAHB market area saw a decrease of almost 8 per cent month over month. There was also a decrease of about 6 per cent from the same time last year. The average price of a townhome in the RAHB market area was reported to have been $891,988. This was an increase of 10 per cent month over month and a 34.1 per cent increase when compared to the same time last year.
Apartment-Style properties within the RAHB market area saw a 16.5 per cent increase when it came to sales, month over month. The number of new listings saw an increase of 40 per cent month over month and a decrease of 20 per cent when compared to the same time last year. The average property price of this type of property was reported to be $686,169.
“The average sale price for all residential properties reached a record-high in January at $1,058,756 across the RAHB market area. This is the first time that the average sale price has topped $1,000,000. If we look at the average sale price by area, Hamilton came in at $976,423; Burlington was $1,369,337; Niagara North was $1,045,801, and Haldimand County was $873,280. Specific neighbourhoods in each area often see differing averages, which is why it is so important to talk to a local RAHB REALTOR® whether you are thinking about buying or selling.” - 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 January 2022.
Contact a Sales Representative at Judy Marsales
If you have any questions about the January 2022 real estate statistics please feel free to contact one of our REALTORS at one of our three real estate office locations in the Hamilton and surrounding areas.
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