Here’s What Happened
For January 2019
January 2019 had over 58 cm of snow and still showed 809 New Residential MLS® Listings came through the Hamilton Real Estate Board. This is 22% HIGHER than January 2018 as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Burlington is UP 24% with 322 New Listings.
Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 593 Properties were down slightly, just 3.6% from the same month last year. Residential Sales in Hamilton (which includes Hamilton plus Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 376 of that total. The Average Hamilton Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS®) system in January 2019 was $495,996
The Hamilton – Burlington Areas presently sitting in a Balanced Market, where the ratio of Homes Sold to Homes Listed is between 40% and 60%, currently sitting at 46.7% for Residential, (in other words, just under 5 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%.
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 January 2019
|RAHB Market Activity||Number Of Sales 2019||Number of Sales 2018||Average Sale Price 2019||Average Sale Price 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.