Tag: top neighbourhoods 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.
Top Neighbourhoods In Hamilton
Hamilton’s real estate market has been growing rapidly over the past couple of years. And as a result, the city is seeing more and more “transplanted” residents from the GTA. When comparing the cost of a home in Hamilton to the GTA, it’s a no-brainer. You’d think affordability would be the selling point, but it’s actually the bait. What sells the home-or better yet, the city, is the uniquely Hamiltonian neighbourhoods that you discover looking past the urban visage. So, what are the top neighbourhoods in Hamilton?
Not too long ago, Hamilton’s Ottawa Street primarily consisted of textile and antique stores. But now the area has been revitalized and has over 100 businesses including galleries, cafes, boutiques, and restaurants filling the street. Whether you’re looking to own a home or a business in this neighbourhood, the Ottawa Street BIA is a great resource to look into.
Crown Point East
Crown Point East is naturally attractive due to the affordability of the area and proximity to Ottawa Street and Gage Park. The average home was 31% cheaper than the rest of the city last year.
Crown Point West
Crown Point West is a great neighbourhood for families. With Gage Park just to the west, there is plenty of opportunities to spend lots of time outdoors.
The Gibson neighbourhood is within close proximity to downtown and close to many businesses. For more information about this neighbourhood check out the Gibson and Landsdale Area(GALA) Neighbourhood Action Plan.
Corktown is the neighbourhood for you if you want an older house with a decent sized yard while still being close to the hustle and bustle of downtown. Prices in this area have risen 135% over the past five years.