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.