Here's What Happened For July 2019
July 2019 had 1697 Total Residential Listings come through the Hamilton Real Estate Board which was slightly higher than July 2018 (1681) as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 1114 of those (down from 1133) and Burlington had 359 (down from 360 in 2018).
Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 1170 Properties were up this month, a 10.3% increase from the same month last year, however, down 2.7% over June 2019 and a 12.9% decrease from May 2019. Residential Sales in Hamilton (which includes Hamilton plus Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 747 of that total and the Average Hamilton Residential Sales Price of those 747 in July 2019 was $553,749 up 7% from July 2018. Burlington had 276 Sales (up from 236 in 2018) with an Average Price of $767,293 (only slightly higher than the $764,739 Average Price from July 2018). The end of month listing inventory shows 1576 Active Residential Listings, giving Hamilton 2.1 months of inventory, which is down 15% compared to 1857 Properties still available for sale at the end of July last year which was 2.6 months of inventory. Burlington has 1.8 months of inventory (down 21%) with 488 active listings for sale. Average days on the market decreased slightly from 29.6 to 29.4 this year for Hamilton and also decreased in Burlington from 30.8 to 28.3.
The Hamilton - Burlington Area is sitting a little higher in a Sellers Market, where the ratio of Homes Sold to Homes Listed is above 60%, currently sitting at 69% for Residential, (in other words, 6.9 homes are sold for every 10 new listings). Homes Sold to Homes Listed Ratio: Buyers Market is below 40%, Balanced Market is between 40-60%, and Sellers Market is above 60%.
Hamilton's Average Year To Date Prices
The map below shows the current Year to Date Average Residential Prices. Some of the areas not included in the map are to the right:
When looking at the Average Prices in and around Hamilton, it is important to note how they have changed significantly over the last year and even now from month to month. If you are thinking of selling your house or condominium, get the most up to date, LOCAL information. A Market Evaluation and/or a Mortgage Pre-Approval done even a couple of months ago MUST be updated!
Take note that “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.” What that means is, not every house or condo has increased in price by the same percentage. It is really important to talk to an experienced local REALTOR® to see EXACTLY what is happening in your particular neighbourhood. It is also important to find out what you can do to your house to get the highest amount possible when you are ready to sell!
>In this Market, it is important that you know about the houses getting listed Immediately! Click Here to get set up on the Instant Listings Notification Search, otherwise, you will only know about listings once they are reported to the public sites. If you wait till you see it on Realtor.ca or other sites, it's too late, and is probably already SOLD!
MLS® Properties SOLD in July 2019
|RAHB Market Activity||Number Of Sales YTD 2019||Number of Sales YTD 2018||Average Sale Price YTD 2019||Average Sale Price YTD 2018|
Note: Numbers of sales represents sales reported on properties listed on the Multiple Listing Service (MLS®) of the REALTORS Association of Hamilton-Burlington. Average sale price is calculated by dividing the total dollar volume of sales (not shown) by the number of sales in that month.