The REALTORS Association of Hamilton-Burlington (RAHB) have released their September 2020 statistics. There were a reported 1,615 sales of residential properties within the RAHB market area. Sales saw a decrease of 7.6 per cent over the same time last month, and up 23.7 per cent over the same time last year.
New listings in October were 12.8 per cent less than they were in September 2020, and up 8.5 per cent from the same time last year. The average property price had an increase of 0.2 per cent to $721,523, and an increase of 19.8 per cent from October 2019.
The above chart, Residential Market Activity, shows us what neighbourhoods had the most sales in October 2020. It was reported that the Hamilton Mountain had 247 sales with the average property price of $610,827. Another area to note is Flamborough, this area had the highest average property price of $1,106,337. We can now take a look at the map below and get a better overview of each area in Hamilton and see how many sales they had and their average residential property price.
The above map, Average Price by District, illustrates each area in Hamilton and the surrounding areas. The areas to take note of for October 2020 are; 17, 42, 51 and 53 - each of these areas had the most number of sales.
Stoney Creek saw a total of 153 sales in September (areas 50, 51, and 52), with an average property price of $701,120. Flamborough was once again the area with the highest average residential property price of $1,106,337. Lets now take a look at the next chart below, Hamilton Residential Table.
Our final chart is the Hamilton Residential Table, this table breaks down the overall numbers for Hamilton's October 2020 statistics. There were a reported1,615 sales of residential properties in the RAHB market area, and a total of 983 in the Hamilton. This was a decrease of 22 per cent in residential property sales compared to last year.
The average price of a residential property was $662,511, this was an increase of 21 per cent when compared to the same time last year. It should also be noted that the average days a property was on the market was 18.8 days, the same time last year the average days on the market was 31 days. Active listings saw a decrease of 45 per cent with a reported 823.
REALTORS® Association of Hamilton-Burlington October 2020 Statistics
In October 2020, it was reported that there was a 13.3 per cent increase in the sale of family properties when compared to the same time last year. However, the number of new listings was down 14.7 per cent and the average sale price increase by 19.4 per cent to $795,415. Townhouse activity saw sales increase by 18 per cent over October 2019, with new listings increasing by 9.1 per cent. October also saw the average price of a townhouse increase by 16.6 per cent to $603,229. Finally, it was reported that apartment-style properties saw sales increase by 32.8 per cent, with an average sale price of $475,945.
“The trends this Fall are not reminiscent of what we would normally see – with October activity slowing slightly compared to September – and this is due to 2020 not being a typical year. As a result of COVID-19, we experienced a delayed Spring market and a surge in record activity over the Summer months when the province began to reopen. As a result of this unstable year, active listings at the end of each month are some of the lowest we’ve seen, exacerbating low inventory levels and continuing to drive average price.” - 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 Hamilton Real Estate Statistics for October 2020.
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