Monday, August 8, 2022     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

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Hamilton Real Estate Market Statistics for July 2022

The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 811 sales of residential properties within the RAHB market area for July 2022. The real estate statistics in this article reflect both the entire RAHB market area and the Hamilton market area.

RAHB reported a total of 1,783 new listings in the entire real estate market area. This was a decrease of 29.9 per cent compared to June 2022. However, it was an increase of 18.6 per cent when compared to July 2021.

When we look at the number of sales of residential properties in July 2022 we can see there was a decrease of 18.5 per cent compared to the previous month and a decrease of 35.6 per cent compared to the same time last year.

The average price of a residential property for the entire RAHB market area was $878,816. This was a decrease of 7.1 per cent compared to June 2022. However, this was an increase of 3.9 per cent when we compare it to the July 2021. Let’s now review the chart below to get a better understanding of the average price per area and the total number of sales within the Hamilton and Burlington market area.

Residential Market Activity

residential-market-activity-for-rahb-areas-july-2022

The above chart, Residential Market Activity, shows us the average price of a residential property in the Hamilton and surrounding areas, including Burlington. The chart also allows us to see the number of sale in each area and then compare it to the same time last year.

RAHB reported that the area that had the greatest number of residential property sales in July 2022 was the Hamilton Mountain. This area had a total of 104 sales with an average residential property price of $753,980. While we can see there was a decrease in the number of sales compared to the previous year, we can see the average price of a residential property increased.

The area with the highest average residential property price was Flamborough, which was $1,313,933. This area had a total of 9 sales in July 2022 and we can see that while the price of a property in Flamborough had an increase there was a slight decease in the number of sales.

Hamilton Centre was the area with the second greatest number of residential property sales for July 2022. With a total of 73 sales and an average property price of $596,425. We can see in this area that there was also a decrease in sales and an increase in the residential property price.

When it came to the residential property sales in Stoney Creek, there were a total of 69 sales, making it third place. Stoney Creek had an average residential property price of $865,566 and just as reported in the other areas mentioned in this article, we can see a decrease in the number of sales and an increase in the property price. We can now turn our attention to the blow map, Average Residential Price by District, and get a closer look at the Hamilton real estate market area.

Average Residential Price by District

average-residential-price-by-district-july-2022

The above map, Average Residential Price by District, illustrates each area within the RAHB real estate market area. However, we’ll just focus on the Hamilton area of this map and area that had the overall greatest number of sales. We can then break that area down and get a closer look. The sub areas to note, that had the greatest number of sales in July 2022 were, 16, 17, 41, 42, 50 and 51.

It was reported by RAHB that in Dundas (area 41) that the average price of a residential property was $960,155 with a total of 29 sales. There was as decrease when it came to the average property price in this area when compared to June 2022.

Ancaster (area 42) had a total of 25 sales of residential properties with an average residential property price of $1,106,336. When we compare this to last month we can see that there was a decrease in the average price of a property and also the number of sales.

RAHB reported that the Hamilton Mountain had the greatest number of sales as illustrated in the above map. With a total of 104 sales in July 2022 and an average residential property price of $753,980. The 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 July 2022.

  • Area 15 — 13 sales, average residential property price $805,708
  • Area 16 — 25 sales, average residential property price $787,510
  • Area 17 — 25 sales, average residential property price $664,780
  • Area 18 — 21 sales, average residential property price $877,167
  • Area 25 — 8 sales, average residential property price $646,000
  • Area 26 — 12 sales, average residential property price $670,340

Continue to view the map and see if you can find your area, this is a great way to see how the market is doing. We are now going to review the final chart the, Hamilton Residential Table, and we’ll be able to get a better understanding of the overall real estate statistics for the Hamilton market area. 

Hamilton Residential Table

hamilton-residential-table-july-2022

The final chart that we’ll review in this article is the above chart, Hamilton Residential Table, which allows us to get a closer look at the Hamilton real estate market. It was reported by RAHB that average price of a residential property within the Hamilton market area was $793,062, this was a two per cent increase when compared to the same time last year.

When it came to the number of sales in July 2022, there were a reported 465, this was a 39.8 per cent decrease compared to July 2021. New listings saw a 12.4 per cent increase when compared to the same time last year with a total of 1,032.

It was reported that the median price of a residential property within the Hamilton real estate market was $732,500. This was a 2.4 per cent increase when compared to the same time last year. Let’s now get a closer look at the RAHB market area statistics.

REALTORS® Association of Hamilton-Burlington July 2022 Real Estate Statistics

The REALTORS® Association of Hamilton-Burlington reported a total of 811 sales of residential properties within the RAHB market area for July 2022. The residential property sales had a decrease of 18.5 per cent compared to June 2022 and a decrease of 35.6 per cent when compared to the same time last year.

There were total of 1,783 new listings reported in the entire RAHB real estate market area. This was an 18.6 per cent increase when compared to July 2021. The average residential property price for July 2022 was $878,816, which was an increase of 3.9 per cent compared to July 2021.

It was reported by RAHB that there were a total of 513 sales of detached properties within the RAHB market area. This was a 25.2 per cent decrease compared to June 2022. The average price of this type of property was $983,363. Which was a 6.6 per cent decrease from last month and a 4.4 per cent increase compared to the same time last year.

Let’s now take a look at townhouse properties within the RAHB market area. It was reported that there were a total of 159 sales in July 2022. This was a decrease of 28.7 per cent compared to the previous year. There were also a reported total of 311 new listings, which was an increase of 13.1 per cent compared to July 2021. The average price of this type of property was reported to have been $751,397. This was a 2.1 per cent increase compared to July 2021.

Finally, when it came to apartment-style properties within the RAHB market area we saw a total of 96 sales. This was a decrease of 39.2 per cent compared to the same time last year. There were a total of 223 new listings, this was an increase of 10.4 per cent compared to July 2021. The average price of this type of property in July 2022 was $598,831, a 14.9 per cent increase compared to the same time last year.

“Unlike June’s figures, there are a number of anomalies in our July 2022 market report. While residential sales and new listings were down overall compared to June 2022, the average sale prices across the RAHB market area were down from June 2022, except in the apartment-style property category. Looking at individual markets, Niagara North experienced double-digit per cent growth of average sale prices in all property categories with the exception of the townhome segment, and Burlington saw a 14.2 per cent increase in average sale price in the apartment-style segment over June 2022. The July 2022 market statistics highlights the importance of consumers using a RAHB REALTOR® to help them navigate the intricacies of each local market.” — RAHB President Lou Piriano.

For More Information About These Statistics

If you’re looking for a more in-depth metric of these statistics, please refer to the Hamilton Real Estate Statistics for July 2022.

Contact a Sales Representative at Judy Marsales LTD. Brokerage

Do you have any questions about the Hamilton real estate statistics in this article? Please feel free to contact one of the many sales representatives at Judy Marsales. You can reach a sales representatives at one of the three real estate office locations, Locke Street South, Westdale and Ancaster.

Have you been thinking about listing your property but aren’t sure what it might be worth? Give our “What’s My Home Worth” calculator a try and find out. All of us at Judy Marsales are looking forward to meeting with you soon and helping you find the home you’ve been looking for.


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