Category: Hamilton neighbourhoods
Hamilton Real Estate Market February 2020
The Hamilton real estate market in February was hot, hot, hot!
998 homes were sold in the Hamilton-Burlington area last month, that’s 30 per cent more than January and 25.5 per cent more than February 2019!
We are definitely in a sellers’ market right now, with a high demand for properties under $600k.
The average price of a home in Hamilton last month was $588,817, up from $518,259 in February 2019.
Townhouse prices increased by 19.4 per cent since February last year to $584,944.
The average sale price of condos in Hamilton is $346,250, making it an affordable option for first-time buyers or anyone looking to downsize. They are also selling more slowly than detached or semi-detached/townhomes.
Properties are selling nearly 19% faster compared to last year with 34.1 average days on market compared to 42 in February 2019.
The average sale price in West Hamilton was $562,850 compared to $511,842 last year.
Hamilton East is $454,904, up 18.49 per cent since last year.
Central Hamilton usually is the most affordable, but it had an average sale price of $464,864, a higher average sale price than east Hamilton for the first time in a while.
Hamilton Mountain was $542,382 last month, up 9.64% since last year.
Hamilton Real Estate Market – December 2019
The number of sales and new listings in the real estate market typically decreases this time of year. However, in December 2019’s case, the number of sales for single-family properties within the RAHB market increased by 6.8 percent compared to December last year. Let’s take a look at the Hamilton real estate market specifically.
Average Sale Price
Average sale price in December 2019 for single-family homes increased by 8.21 percent since the same month in 2018.
Houses sold 15.22 percent faster in December 2019 compared to 2018, and there were slightly fewer listings available on the market making it a good time to consider selling.
The average sale price can vary depending on the property style, condos in Hamilton, for example, showed a very modest average sale price increase to $334,736 compared to $326,422 the previous year.
Semi-detached homes and townhomes had an increase of nearly 8 percent to $480,825 from $447,045 December last year.
The average sale price of detached homes for December 2019 was $573,204, up 9.18 percent from $525,003 in December 2018.
New Listings On The Market
There were less new detached home listings in December, but more new listings for semi-detached, townhouses, and apartment-style condos.
Average Days On Market
The average days on market is the number of days from the time a property is listed until it sells. Properties are selling faster this year than the same time last year.
In December 2018, the average days on market averaged from 40-44 days depending on the property style. However, in December 2019 the average number of days on market ranged from 26.7 for apartment-style condos, to 37.2 days on market for detached homes.
Flamborough, Dundas, and Hamilton East saw the largest increases in the average sale price for December 2019.
Hamilton West and Central Hamilton didn’t have much fluctuation comparing this year to last, in fact the number of sales and average sale price in Central Hamilton actually dropped a bit.
Average sale price in Hamilton West was $543,274 with 34 sales in December 2019, and $534,636 with 27 sales in December 2018.
Average sale price in Central Hamilton was $368,442 with 63 sales in December 2019, and $371,458 with 63 sales in December 2018.
The most affordable area to buy in is still Central Hamilton, followed by East Hamilton and the mountain.
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Hamilton Real Estate Market – November 2019
The 2019 real estate market in Hamilton is coming to a close, and the trend for the year is that buyers are choosing more affordable properties.
Hamilton remains far more affordable than Burlington and offers more options for properties available for sale.
The average sale price in Burlington for November was $787,957 and only 230 new listings became available compared to 713 in Hamilton. There were nearly 100 fewer new listings on the market last month, only 713 compared to 826 in 2018.
The average sale price in Hamilton for November 2019 was $535,944 – a modest increase of just over 6 per cent from $504,761 in 2018.
Condos in Hamilton saw the biggest increase in average sale price at 8 per cent, bringing the average sale price to $325,391 from $298,999 in November 2018.
This is a good time to start preparing to sell your home if you were thinking of listing it for sale. Click here to find out how much your home is worth.
Surprisingly, even with almost 14% fewer new listings on the market this year – condos in Hamilton stayed on the market a bit longer last month compared to the same time last year, with an average of 45.3 days on the market compared to 36.6 in 2018.
Detached and semi-detached homes are selling faster this year compared to last, both averaging roughly 30 days on the market.
Central Hamilton is still the most affordable option on average for buyers, the average sale price in November was $402,147. Click for homes under $400,000 in Hamilton.
East Hamilton real estate is also a great choice, the average sale price was $417,385 during November 2019.
Send me a message if you have any questions about real estate in Hamilton.
Hamilton Real Estate Market Update – October 2019
Sellers rejoice, the weather may be getting colder but competition for home buyers in Hamilton is heating up. There were fewer new residential listings in Hamilton for October compared to both September 2019 as well as October 2018.
On the other hand, some good news for homebuyers. The average residential sale price in Hamilton has decreased from $554,784 to $544,980 since September.
Compared to October 2018, however, the average sale price of a home in Hamilton has increased by roughly 9 percent.
You may have seen the news last month that the average price of a detached home in Hamilton had reached over $600,000.
Not to worry though, the average sale price of a detached home in Hamilton has come down from $612,306 to a more comfortable $593,796.
Listings are staying on the market a little bit longer with an average of 30.1 days on the market compared to 28.9 in September 2019.
That number varies, of course – depending on the property style, with semi-detached and townhomes showing the shortest average of days on market (24.6). Detached homes and condos in Hamilton are at a near tie at a respective 31.8 and 31.4 for average days on market.
Condo sales in Hamilton had the highest increase in average price at 13.7 percent from $305,749 in October 2018 to $347,635 in October 2019.
Hamilton Real Estate Market By Area
The number of sales in Central Hamilton and Hamilton Mountain is picking up compared to last year.
Hamilton West showed a modest 3.45 percent increase in the average sale price to $541,435 from $523,372.
The average sale price in Hamilton East increased by 8.64 percent to $414,671 from $381,679.
Central Hamilton remains the most affordable with an average sale price of $398,287 – an increase of 6.69% from $373,324 in October 2018.
Hamilton Mountain had the biggest increase at 11.62% bringing the average residential sale price to $514,152 from $460,626 in October 2018.
Considering a move to Hamilton but not sure which neighbourhood would be the best fit for you? Use my neighbourhood guide to learn about popular neighbourhoods in Hamilton or contact me and I can help you find the perfect home.
The average cost of a detached home in Hamilton is $600,000 according to statistics released from the Realtors Association of Hamilton-Burlington.
However, the average residential sale price in Hamilton for September 2019 remains under $500,000.
Condos are still an affordable option for those looking to downsize or buy their first property. The average sale price has remained roughly the same compared to September 2018 ($322,417 vs $322,859).
Hamilton Mountain showed just over a 7% increase to an average sale price of $494,816 compared to the same month last year. The area also had more properties sold in September 2019 compared to last year (168 vs 139).
Hamilton Centre remains the most affordable area in Hamilton, the average sale price increased by roughly 11% to $380,840.
The average residential sale price in Hamilton East is $430,563, an increase of 12.53% and Hamilton West had a decrease in the average sale price of 4% to $454,902.
Stoney Creek had more residential sales in September 2019 compared to last year (110 vs 81), and the average sale price increased by 18% to $629,272.
The average sale price in Dundas increased by 10% to $648,969, Ancaster saw a 20% increase in the average sale price to $820,310 and Burlington increased by just over 6% to $787,624.
Specific neighbourhoods often differ from the average of the entire market area. The best way to navigate the real estate market and determine the right price and conditions when buying or selling a property in Hamilton is to work with an experienced Realtor.
Contact me if you have any questions about buying or selling real estate, I look forward to helping you.