Sept 2020 Hamilton ON. Real Estate Market Report

Here's What Happened For September 2020

Hamilton and surrounding areas are still following the current COVID-19 Pandemic Stage 3 recommendations and sadly the numbers are going up again in most areas of reported cases. Open Houses are still allowed, however, I am not in favour of doing that yet. Showing homes practices are in place to keep everyone safe during these times and that includes Buyers and their agents signing a COVID Questionaire before having access granted to come into a Sellers home. In most cases, there is a maximum of 3 people allowed in the house (The Buyers Agent and up to 2 Buyers - No Children). There are 30-minute time slots available for showings and overlapping appts are usually not allowed. Keep this in mind if you are wanting to see some properties and it is now more challenging to find a time slot available, especially if you have a few homes to see and would like to go to them in some sort of logistical order. Digital signatures are now the norm for all and are very simple to use. Our main concern is still and always will be, the health and well being of you and your family.

Here is a look at the sixth full month of statistics since the March shutdown. September's Real Estate Market was HOT in and around Hamilton Ontario! As is typical in a Fall Market, listings were up, however, with the continued high demand for properties from an ever-increasing number of Buyers the supply is still too low, which further increased the Average Prices in almost all areas in and around Hamilton. September 2020 had 1983 Total Residential Listings come through the Hamilton Real Estate Board, which is up from 1850 in September 2019, as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 1251 of those (up from 1229 in 2019) and Burlington's share was 525 which is also up from September 2019.

Residential Sales located throughout the RAHB market area (including Burlington and all the outlying areas covered by The REALTORS ® Association of Hamilton-Burlington) of 1751 Properties are well up from September 2019, by 53.9%, and also up 37.67% over last month, August 2020. The overall average price for residential properties also increased from last month by 3.8% to $721,354 which is up 19.8% from September 2019. Hamilton's Residential Sales (including Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 1056, up 53% from 692 in September 2019, with an average price of $664,330 up 22% from the same month last year. Burlington had 390 Sales which is up 48% from 264, with an average price of $912,794 which is up 18% from September 2019.

The end-of-month listing inventory which is a good indication of the type of market currently being experienced shows only 908 Active Residential Listings giving Hamilton 0.9 months (less than a month) of inventory, down 44% from September 2019. Burlington has 366 Active Residential Listings which also gives it less than 1 month with 0.9 months of inventory, which is down 25%. The average days on the market have also significantly dropped from 30.4 to 19.8 in Hamilton and also went down in Burlington from 23.7 to 19.7. Right now the Hamilton-Burlington Area is experiencing a very strong Sellers Market, where the ratio of Homes Sold to Homes Listed is above 60%, currently sitting at 88.3%. In other words, 8.8 homes are sold for every 10 new listings. This increased from last month from 79.6%. 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!

Burlington $859,379
Flamborough $959,079
Waterdown $734,203
Grimsby $662,395
Caledonia $588,235
Cayuga $608,590
Dunnville $477,578

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 or other sites, it's too late, and is probably already SOLD!

MLS® Properties SOLD in September 2020

RAHB Market ActivityNumber Of Sales 2020Number of Sales 2019Average Sale Price 2020Average Sale Price 2019
West Hamilton8262$482,780$349,312
East Hamilton11688$478,651$418,305
Central Hamilton15799$435,797$337,630
Hamilton Mountain269195$542,192$452,869
Stoney Creek221135$640,075$536,726
West Lincoln41$782,813$470,000

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.