Hamilton, ON (January 16, 2020) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 12,866 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in 2019. This is 10.1 per cent more sales than in 2018. The average price of a residential property in 2019 was $587,745. This is up 4.9 per cent from 2018, and 95.3 per cent higher from 10 years ago. New residential listings were down 4 per cent compared to the previous year.

“The RAHB residential market has balanced out from the high activity experienced in 2016 and 2017; however, increases in average price and number of sales, paired with a decrease in new listings, indicates that 2019 favoured sellers more than in 2018,” says RAHB CEO Carol Ann Burrell. “Buyers in 2019 were able to take more time to find their preferred, and in many cases more affordable, property compared to previous years, and so the sellers’ market was not as noticeable.”

When the residential statistics are broken out into the four main RAHB market areas, Hamilton experienced a 1.7 per cent increase in listings, a 13.3 per cent increase in sales, and a 6.2 per cent increase in average price to $525,843; Burlington saw a decrease in listings by 5.7 per cent, an increase in sales by 5.7 per cent, and an increase in average price by 2.8 per cent to $755,639; Haldimand saw a 5.3 per cent increase in listings and a 7.4 per cent increase in average price to $465,271, while the number of sales remained essentially the same; and Niagara North saw a 1.7 per cent increase in listings, a 10.9 per cent increase in sales, and an increase in average price by 6.6 per cent to $581,733.

Broken down further by community, Stoney Creek and Ancaster experienced the highest percentage increase of sales at 16.6 per cent, and the Hamilton Mountain saw the highest total number of sales at 2,043. The largest drop in number of sales was experienced by Rainham, falling from 85 to 57 sales.

The highest average sale price was held by Ancaster at $772, 811, and the largest percentage increase was held by Rainham at 30.5 percent, from $357,312 to $466,153. The only community to experience a drop in average price was Flamborough.

“It can be difficult to properly interpret the statistics, especially when communities have so many different types of properties – large and small, as well as urban, suburban and rural,” says RAHB President Kathy Della-Nebbia. “For example, one large farm sale could skew the average price up more than what was experienced in that overall area. That’s why it is so important to work with a local REALTOR® when selling or buying your home – they know the market trends for your neighbourhood and have the tools to help you.”

With respect to property style, single-family properties experienced gains in number of sales across all four market areas, with Hamilton seeing the highest at 15.5 per cent. Apartment-style property sales were up across most RAHB market areas, with the exception of Haldimand where this type of property is rarer. Apartment-style property sales in Niagara North increased by 61.5 per cent over 2018. Townhouse sales in this area declined by 10 per cent, which was the only RAHB market area to see the number of townhouse sales fall. Detached homes, townhouses and apartment-style properties in most of RAHB’s market areas experienced average price increases, with only Haldimand townhouses experiencing a slight drop.

“The clear trend for 2018 was that apartment-style and townhomes outperformed detached properties. This year we see that these types of properties are still performing well; however, buyers choosing detached homes are trending upward yet again,” says Della-Nebbia.

Commercial properties within the RAHB market area experienced a decrease in number of sales, as well as average price. Hamilton saw the highest number of sales at 134 and the highest dollar volume at $121,522,332, which are both down from 2018.

The total dollar volume of all sales within the RAHB market area was $7,897,509,003 – up nearly $1B from 2018.

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. RAHB REALTORS® have the local experience, knowledge and tools to help buyers and sellers make those big decisions.

*Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Talk to your local RAHB REALTOR®.

https://www.rahb.ca/rahb-realtors-release-2019-year-end-market-statistics/

Hamilton, ON (January 3, 2020) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 585 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December 2019. This years December sales are up 3.9 per cent over December 2018; however, are down from both November and October of this year. The average price for residential properties increased by 7.6 per cent from December 2018 to $581,566.

“With the holidays and cold weather, sales tend to dip in December when compared to the previous months. It’s a trend we see almost every year,” says RAHB President Kathy Della-Nebbia. “A decrease in new listings and an increase in sales can equal less inventory on the market. With increased competition for the properties available, this looks to be an opportune time to sell your property.”

The number of sales for single family properties within the entire RAHB market increased by 6.8 per cent compared to the same month last year, and the average sale price increased by 8.2 per cent. Townhouse sales activity across the entire RAHB market area decreased from December 2018 by 7.6 per cent, and the average townhouse sale price increased by 1.4 per cent to $502,981. Apartment-style property sales increased by 14.8 per cent from December 2018, and the average price increased by 10.2 per cent.

“For the past few months, townhouses within the RAHB market area have experienced an increase in the number of sales and a decrease in the number of listings,” says RAHB CEO Carol Ann Burrell. “This, paired with increases in average price each month of 2019, shows that this is a popular property type for buyers – most likely due to its affordable price point.”

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

*Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Talk to your local REALTOR®.

SOURCE: https://www.rahb.ca/rahb-realtors-release-december-2019-market-statistics/

Hamilton, ON (June 3, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,344 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in May 2019. This is a 10.9 per cent increase from May last year, as well as a 9.6 per cent increase over April 2019 and a 30.2 per cent increase over March 2019. The average price for residential properties increased by 0.9 per cent from May 2018 to $593,702.

“The number of sales increased double digits over last year and the number of new listings decreased by 5.2 per cent, indicating that we are in the thick of a busy spring market for sellers,” says RAHB President Bob Van de Vrande. “And prices only increasing an average of 0.9 per cent over last year means buyers haven’t watched prices soar while they find the perfect home.”

The number of sales for single family properties within the entire RAHB market increased by 6.3 per cent compared to the same month last year, and the average sale price increased by 0.5 per cent. Townhouse sales activity across the entire RAHB market area increased from May 2018 by 21.8 per cent, and the average townhouse sale price rose by 3.7 per cent to $507,400. Apartment-style property sales increased by 20 per cent over May 2018, and the average price increased by 8.3 per cent.

“When we talk about the ‘RAHB market’, we’re referring to four separate communities – Hamilton, Burlington, Haldimand and Niagara North,” adds Van de Vrande. “The activity experienced in one community may not be taking place in another for a variety of reasons, and that’s why it’s so important for consumers and sellers to use a local REALTOR® who knows the trends within their area.”

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

https://www.rahb.ca/rahb-realtors-release-may-statistics/

Hamilton, ON (May 1, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB)reported 1,226 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in April, 2019. This is a 6.3 per cent increase from April last year, as well as an 18.8 per cent increase over March 2019 and a 66.8 per cent increase over February 2019. The average price for residential properties increased by 3.9 per cent from April 2018 to $589,324.

“It’s encouraging to see the overall number of sales increase since last year when the market balanced out from 2016 and 2017,” says RAHB President Bob Van de Vrande. “Paired with a consistent increase in new listings month over month, Hamilton, Burlington and the outlying areas provide choice for buyers and a healthy market for sellers.”

The number of sales for single family properties within the entire RAHB market increased by 8.2 per cent compared to the same month last year, and the average sale price increased by 2.3 per cent. Townhouse sales activity across the entire RAHB market area decreased from April 2018 by 0.4 per cent, while the average townhouse sale price rose by 6 per cent. Apartment-style property sales increased by 17.9 per cent over April 2018, and the average price increased by 10.6 per cent to $409,104.

“When we look at our entire market area, we can see that there are variances in the number of sales and listings, as well as average price, from community to community,” adds Van de Vrande. “That’s why it’s so important for consumers and sellers to use a local REALTOR® who knows the trends within their community – especially heading into a healthy spring market.”

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

https://www.rahb.ca/rahb-realtors-release-april-statistics-2/

Hamilton, ON (April 1, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB)reported 1,032 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in March, 2019. This is a 1.2 per cent drop from March last year; however, a 40 per cent increase over February 2019 and a 74 per cent increase over January 2019. The average price was up from March 2018 by 4.9 per cent to $575,099.

“The increase in the number of sales from January and February shows that we are full steam ahead and anticipate a healthy spring market,” says RAHB CEO George O’Neill. “We experienced a two per cent increase in the number of listings over last year, which means more overall choice for buyers.”

The number of sales for single family properties within the entire RAHB market fell by 2.7 per cent compared to the same month last year, and the average sale price increased by 5.6 per cent. Townhouse sales activity across the entire RAHB market area increased from March 2018 by 8.6 per cent, while the average townhouse sale price rose by 1.2 per cent. Apartment-style property sales were exactly the same as in March 2018, and the average price increased by 3.5 per cent to $376,391.

“Our market area includes Hamilton, Burlington, Haldimand and Niagara North, and within these areas are smaller communities that each have their own distinct characteristics,” add O’Neill. “The trend over the past several months has been that buyers are choosing more affordable properties and more affordable communities. We expect this to continue throughout the spring market.”

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

Hamilton, ON (March 1, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 735 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in February, 2019. This is a 4 per cent drop from February last year; however, a 24 per cent increase over January 2019. The average price was up from February 2018 by 1.9 per cent to $557,135.

“Last year this time we saw the beginnings of a more balanced market,” says RAHB CEO George O’Neill. “The data for January and February is trending upwards and could lead into a healthy spring market for both buyers and sellers.”

The number of sales for single family properties within the entire RAHB market fell by 2.9 per cent compared to the same month last year, and the average sale price decreased by 0.7 per cent. Townhouse sales activity across the entire RAHB market area was also down from February 2018 by 4.2 per cent, while the average townhouse sale price rose by 4.9 per cent. Apartment-style property sales decreased by 6.2 per cent over February 2018, and the average price increased by 11 per cent to $413,801.

“The trend for the past few months has been that more affordable properties and communities have been seeing gains, but this month the statistics vary regardless of type of property and location,” notes O’Neill. “The numbers can change from one month to the next, and that’s why it’s best to work with a local REALTOR® when buying or selling. They know their communities and have access to comprehensive data throughout the month.”

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

*Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Talk to your local REALTOR®.

– 30 –

Hamilton, ON (February 4, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 593 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January, 2019. This is a 3.6 per cent drop from the same month last year. The average price was up by 4.7 per cent to $550,058.

“This is a promising start to 2019,” says RAHB CEO George O’Neill. “For sellers, the average price of a home has increased over 100 per cent since 2009. For buyers, sales activity has slowed, the number of new listings has increased, and we are sitting firmly in a balanced market.”

The number of sales for single family properties within the entire RAHB market fell by 2.8 per cent compared to the same month last year, and the average sale price increased by 7 per cent. Townhouse sales activity across the entire RAHB market area were also down from January 2018 by 2.6 per cent, while the average townhouse sale price rose by 5.3 per cent. Apartment-style property sales increased by 3.2 per cent over January 2018, and the average price increased by 5.8 per cent to $381,504.

“The January numbers have picked up since the downturn we experienced in December,” adds O’Neill. “The trend is still the same – lower priced properties such as townhouses and apartments seem to be the preference for consumers, and are in high demand.”

RAHB revised their 2018 year-end market report as inconsistencies were found within the 2017 data related to listings posted on multiple MLS® systems. These “double listings” resulted in the sales and listings figures being higher than what actually took place in 2017.

With the change to the 2017 data, RAHB reported 11,584 sales of all properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in 2018. Corrected, this is 13.7 per cent fewer sales than in 2017 as opposed to a 17.5 per cent drop. Previously reported was a one per cent decrease in the average sale price for all properties for 2018; however, corrected data shows a 0.23 per cent increase in average price – $563,202. Burlington was most affected by the double listing issue, and saw a decrease in listings of 2.4 per cent (not 12.7 per cent) and a decrease in sales of 7.7 per cent (not 17.4 per cent).

With the changes made to the 2017 data the trends remained the same – the RAHB market went from a strong, prolonged seller’s market to a balanced market where buyers had more time to view and compare properties before putting in an offer to purchase.

Additional information and the revised 2018 year-end market reports can be found on the RAHB website at [LINK].

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

*Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Talk to your local REALTOR®.