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.