Year to Date Market Report

for January to December 2020

Year In Review for 2020

Statistics & Property Values Report!

What. A. Year! For so many people, and for so many reasons (some good, and lots not so good), 2020 will go down in the history books as one of THE most memorable years. January and February started off fairly well in the Hamilton and Area Real Estate Market, with signs pointing towards a continuation of the strong Sellers Market that was seen at the end of 2019, even though more properties were being listed, making it a little easier on Buyers purchasing a home. Things changed fairly drastically over the next couple of months, starting March 11th, 2020, as COVID-19 was declared a Pandemic. Listings dropped from 1661 in March to only 827 in April. The List-To-Sell Ratio dropped to the lowest point since September 2019 when it was 56% to 58.5% in April 2020, when there were only 482 Sales for the 827 New Listings. This Balanced Market was very short-lived. The Sales to New Listings Ratio increased throughout the rest of the year and by December 2020 reached an astonishing 143%, with 913 Sales for the 639 New Listings. 2019 had an overall 67.27% compared to 81.51% for all of 2020. Many factors contributed to this extremely strong Sellers Market, including such things as people staying put and renovating instead of selling. Working from home meant commuters could take advantage of the low prices Hamilton had to offer instead of buying something much smaller to be closer to work in and around Toronto. Fear of exposure to COVID-19 also prompted many people to delay putting their homes up for sale. Early predictions tended towards a more Balanced Market, stating the loss of jobs, decreased wages, and extended lockdowns would push more and more people to the point of selling.

Average Residential Selling Prices went from $608,441 in 2019 to $714,016 in 2020! Condominium Average Selling Price also jumped significantly from $439,700 in 2019 to $494,863 in 2020. Multiple Offers, Pre-Emptive (also known as Bully) Offers, line ups to get into properties for sale, selling much higher than the asking prices were all a normal part of Real Estate this year. A common strategy used was to list a property for sale under the perceived Market Value to garner extreme exposure and to “Hold Offers” till a pre-determined date, usually 5-7 days from the listing date, when the Seller would then review all the offers at that time. One of my clients was one of 51 Offers on a house that was listed below market value and ended up selling for $175,000 over the listing price. This type of market also meant very few offers were accepted with conditions which meant Buyers were sometimes paying for a Pre-Purchase Home Inspection before submitting their Offer and ALWAYS making sure their Mortgage Pre-Approval was done. Working closely with your trusted Mortgage Professional is imperative if you are considering putting in an Offer To Purchase without a condition on financing. As an example of what could happen, you personally may be approved for a Purchase Price of $750,000. If your bank or lender does an appraisal on the property and determines it only has a Market Value of $710,000 you would need to come up with an EXTRA $40,000 for your Down Payment before closing and you may be sued by the homeowner if you try to back out of your FIRM Deal (an Offer to Purchase with no conditions).

Overall Average Sales Prices increased year over year in every single district throughout The REALTORS® Association of Hamilton-Burlington (RAHB) Area. In 2019 there were still 5 neighbourhoods within these districts where the average selling price was below $400,000. There is only one neighbourhood left in 2020 in this price category and that is the Industrial neighbourhood of District 21 in the Hamilton Centre Area with an Average Selling for 2020 of $368,257. Hamilton Centre has gone from an average of $390,622 in 2019 to $469,985 in 2020 and is the lowest Average Price in all of the areas RAHB covers. There are two Districts in Burlington with averages over a million; District 33 (including Elizabeth Gardens, Shoreacres and Roseland Neighbourhoods) average Selling Price of $1,275,916 for 2020 (up from $1,055,339 in 2019) and District 38, the North Burlington Rural Neighbourhood was $1,483,703 for 2020 (up from $1,091,443 in 2019). See the Maps below comparing more prices year over year. Types of homes sold in 2020 compared to 2019 showed that there were 2558 Bungalows sold in 2019 for an Average Selling Price of $545,00 and 2651 Bungalows sold in 2020 at an Average Selling Price of $640,810. 4526 2 Storey Houses sold in 2019 for an average of $682,889 and in 2020 there were 5059 2 Storey Sales for an average of $795,182.

See below for Average Selling Prices of Districts and Neighbourhoods in and around Hamilton Ontario, comparing average sales from 2020 to 5 (2015) and 10 (2010) years ago. Below these charts, you will find the Month of December 2020 Statistics Report.

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Average Selling Prices

Compared to 2015 and 2010

Here is an overview of the 2020 Average Selling Prices for Residential Properties in and around Hamilton Ontario Canada, compared to 5 years ago (2015) and 10 years ago (2010).

West Hamilton Real Estate Neighbourhood Districts Laura Doucette Sutton

West Hamilton

Neighbourhood Features – McMaster University, Westdale Village (Weils Bakery, Westdale Theatre), Locke Street Shops, Hess Street, West Harbour Go Station, Bayfront Park, Royal Botanical Gardens, Dundurn Castle, Farmers Market, and quick access to Highway 403.

2020 Average Selling Price for West Hamilton – $567,799 — 674 Total Sales — 26 Average Days Market — Selling on Average for 101% of the Listing Price. Average Selling Price was $500,144 in 2019 (1 year ago), $369,963 in 2015 (5 years ago) and $256,310 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
10	Bayfront, Strathcona, Central	$190,826	$298,971	$504,363
11	Westdale, Ainslie Wood	$277,327	$399,474	$575,781
12	Durand, Kirkendall	$277,038	$391,826	$604,015

Central Hamilton Real Estate Neighbourhood Districts Laura Doucette Sutton

Central Hamilton

Neighbourhood Features – Known as Downtown Hamilton, and home to Gore Park, Gage Park, Ottawa Street Shops, Go Bus Station,Tim Hortons Field (Tiger Cats Football & Forge FC Soccer), Art Crawl and Supercrawl.

2020 Average Selling Price for Central Hamilton – $469,985 — 1129 Total Sales — 19 Average Days Market — Selling on Average for 104% of the Listing Price. Average Selling Price was $390,622 in 2019 (1 year ago), $235,492 in 2015 (5 years ago) and $152,544 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
13	North End	$133,830	$208,914	$458,844
14	Beasley, Landsdale	$142,316	$234,911	$434,431
20	Corktown, Stinson, Crown Point, Gibson, Stipley	$136,955	$214,386	$457,887
21	Central Mall Area	$101,568	$174,818	$368,257
22	St. Clair, Blakeley, Deta	$208,501	$315,054	$590,992

East Hamilton Real Estate Neighbourhood Districts Laura Doucette Sutton

East Hamilton

Neighbourhood Features – Home to the famous Hutches and Barangas on the Beach Restaurants at Confederation Park on the lake, Waterfront Trail (all the way to Burlington), Eastgate Mall, Brock University Campus, Kings Forest Golf Course and very easy access to QEW Niagara and Toronto, Red Hill Valley Parkway and the Skyway Bridge.

2020 Average Selling Price for East Hamilton – $489,036 — 874 Total Sales — 16 Average Days Market — Selling on Average for 104% of the Listing Price. Average Selling Price was $413,165 in 2019 (1 year ago), $243,332 in 2015 (5 years ago) and $177,402 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
23	Homeside, Normanhurst, McQuesten, Parkview	$151,166	$212,857	$430,133
24	Rosedale, Bartonville, Glenview	$201,091	$284,389	$518,984
27	Riverdale, Kenley	$197,867	$265,930	$539,345
28	Greenford, Vincent, Gershome	$189,220	$233,341	$518,693
29	Hamilton Beach	$000,000	$382,326	$637,518

Hamilton Mountain Neighbourhood Districts Laura Doucette Sutton

Hamilton Mountain

Neighbourhood Features – Limeridge Mall Shopping Centre, Mohawk College, Hillfield Strathallan Private College, Westmount School and Recreation Centre, Huntington Park Rec Centre, Bernie Arbour Moahawk Sports Park, Chedoke Twin Pad Arena, LINC (Lincoln Alexander Expressway) Escarpment Rail Trail and Chedoke Radial Trail, Numerous Waterfalls.

2020 Average Selling Price for Hamilton Mountain – $580,312 — 1903 Total Sales — 16 Average Days Market — Selling on Average for 103% of the Listing Price. Average Selling Price was $499,868 in 2019 (1 year ago), $334,455 in 2015 (5 years ago) and $242,620 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
15	Mountview, Westcliffe, Buchanan, Southam, Bonnington, Mohawk	$265,280	$370,265	$623,808
16	Fessenden, Gilbert, Rolston, Yeoville, Gurnett, Gilkson, Gourley, Kernighan, Falkirk East, Falkirk West, Kennedy, Carpenter	$250,032	$349,553	$596,901
17	Centremount, Inch Park, Eastmount, Raleigh, Balfour, Hill Park, Burkhome, Macassa	$199,714	$283,095	$502,861
18	Greeningdon, Bruleville, Thorner, Lawfield, Jerome, Crerar, Barnstown, Rushdale, Butler, Randall, Eleanor, Allison, Ryckmans Corners	$272,322	$369,499	$637,054
25	Sunninghill, Sherwood, Hampton Heights, Huntington	$239,330	$320,690	$578,308
26	Berrisfield, Lisgar, Trenholme, Quinndale, Templemead, Broughton	$229,597	$311,197	$566,892

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Stoney Creek

Neighbourhood Features – Battlefield Park, Eramosa Karst Conservation Area and Caves, Devils Punchbolw Waterfalls and Conservation Area, Felkers Falls, Valley Park Community Centre, Winona, 50 Point Conservation Area and Marina.

2020 Average Selling Price for Stoney Creek – $654,961 — 1367 Total Sales — 23 Average Days Market — Selling on Average for 100% of the Listing Price. Average Selling Price was $562,326 in 2019 (1 year ago), $391,819 in 2015 (5 years ago) and $282,159 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
50	Heritage Green, Valley Park, Felker, Trinity, Highland, Leckie Park	$268,579	$392,064	$663,816
51	Battlefield, Corman, South Meadow, Highway Valley, Dewitt, Eastdale, Polar Park, Guernsey, Westmeria, Fruitland, Community Beach, Winona Park	$287,141	$388,480	$636,679
52	Rural Stoney Creek	$000,000	$486,398	$938,931

Dundas

Neighbourhood Features – Home of the fun filled Buskerfest and Cactus Festivals, Dundas Driving Park, Dundas Valley Golf and Curling Club, Dundas Valley Conservation Area, Downtown Dundas Shops and Restaurants in a small town setting.

2020 Average Selling Price for Dundas – $759,721 — 276 Total Sales — 20 Average Days Market — Selling on Average for 102% of the Listing Price. Average Selling Price was $617,431 in 2019 (1 year ago), $453,887 in 2015 (5 years ago) and $306,914 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
41	Pleasant View, Hopkins Corner, Cootes Paradise, University Gardens, Dundana, Grosvenor's Estate, Highland Park, Pleasant Valley	$306,914	$453,887	$759,721

Ancaster

Neighbourhood Features – Home of best brunch at Ancaster Old Mill Restaurant, Tiffany and Sherman Waterfalls, Hamilton Golf and Country Club, Gables Golf Club, Meadowlands Power Centre (Costco), Redeemer University College, Ancaster Fairgrounds, Spring Valley Arena.

2020 Average Selling Price for Ancaster – $877,721 — 746 Total Sales — 33 Average Days Market — Selling on Average for 100% of the Listing Price. Average Selling Price was $771,748 in 2019 (1 year ago), $567,090 in 2015 (5 years ago) and $398,872 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
42	Sulphur Spring, Ancaster Heights, Oakhill, Meadowlands, Parkview Heights, Nakoma, Harmony Hall, Shaver, Southcote	$398,872	$557,090	$877,721

Glanbrook

Neighbourhood Features – John C. Munro Intermational Airport, Canadian Warplane Heritage Museum, Garth Trails & Twenty Place Adult Senior Living Condominiums, Southern Pines Golf and Country Club, Glanbrook Sports Complex, Binbrook Fairground Community Park.

2020 Average Selling Price for Glanbrook – $670,375 — 497 Total Sales — 19 Average Days Market — Selling on Average for 101% of the Listing Price. Average Selling Price was $590,073 in 2019 (1 year ago), $567,090 in 2015 (5 years ago) and $398,872 in 2010 (10 years ago).

Grimsby

Neighbourhood Features – Niagara Peninsula Town, On The QEW Between Niagara and Toronto, Nelles Manor (1798 Loyalist Residence), Lake Views, Lake Access Point At Nelles Park Beach & Grimsby Beach Park, Lookout Trail, Conservation, Happening On The Forty Festival, Centennial Park, Forty Creek Distillery, Beamer Falls.

2020 Average Selling Price for Grimsby – $686,117 — 530 Total Sales — 26 Average Days Market — Selling on Average for 100% of the Listing Price. Average Selling Price was $579,389 in 2019 (1 year ago), $407,635 in 2015 (5 years ago) and $376,222 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
54	Grimsby South & North	$376,222	$407,635	$686,117

Waterdown

Neighbourhood Features – Clappison’s Corners, Royal Botanical Gardens, Waterdown Memorial Park, Smokey Hollow Waterfalls, Joe Sam’s Leisure Park, Waterdown Supercentre Shopping.

2020 Average Selling Price for Waterdown – $758,444 — 370 Total Sales — 19 Average Days Market — Selling on Average for 101% of the Listing Price. Average Selling Price was $705,595 in 2019 (1 year ago), $503,502 in 2015 (5 years ago) and $361,108 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
46	Waterdown East & West	$361,108	$503,502	$758,444

Burlington

Neighbourhood Features – Millcroft Shopping Centre, Millcroft Golf Club, Tansley Woods Community Centre, Spencer Smith Park, Burlington Beach, Burlington Golf and Country Club, Tyandaga Golf Course, Ikea, LaSalle Park, LaSalle Marina, Royal Botanical Gardens.

2020 Average Selling Price for Burlington – $874,892 — 2287 Total Sales — 19 Average Days Market — Selling on Average for 101% of the Listing Price. Average Selling Price was $756,627 in 2019 (1 year ago), $560,991 in 2015 (5 years ago) and $405,911 in 2010 (10 years ago).

District	Neighbourhoods	Average Prices in 2010	Average Prices in 2015	Average Prices in 2020
30	Aldershot	$414,426	$650,667	$898,759
31	Plains, Maple, Central	$387,952	$530,650	$804,806
32	Dynes, Longmoor, Pinedale	$343,304	$482,312	$783,285
33	Roseland, Shoreacres, Elizabeth Gardens	$529,123	$746,815	$1,275,916
34	Tyandaga, Mountainside, Brant Hills	$391,418	$525,720	$794,459
35	Headon Forest, Palmer, Tansley, Millcroft, Orchard, Corporate	$380,832	$502,955	$798,198
36	Alton West, Alton East	$415,081	$600,744	$899,761
38	North Burlington Rural	$753,435	$884,001	$1,483,703

Monthly Report For December 2020

December 2020 had only 639 Total Residential Listings come through the Hamilton Real Estate Board which was a huge drop, 47.9%, from the 1227 New Listings in November, however were up 34% from December 2019 (461) as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 430 of those (up from 344 in 2019) and Burlington had 136 (down from 75 in 2019).

Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 913 Properties were down 26% from November, however are up from December 2019 by 41.6%. Residential Sales in Hamilton (which includes Hamilton plus Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 577 of that total and the Average Hamilton Residential Sales Price of those 577 in December 2020 was $661,783 up 25% from December 2019 ($528,525). Burlington had 172 Sales (up from 108 in 2019) with an Average Price of $961,908 (up from the $780,202 Average Price from December 2019). The end of month listing inventory shows only 356 Active Residential Listings, giving Hamilton 0.6 months of inventory, which is down 56% compared to 818 Properties still available for sale at the end of December last year which was 1.8 months of inventory. Burlington has 0.7 months of inventory (down 38%) with 125 active listings for sale. Average days on the market decreased from 37.6 to 20.5 this December for Hamilton and also decreased in Burlington from 33.2 to 25.6.

COVID-19 policies and safeguards are continuing, with virtual showings preferred, advanced 3D virtual tours and floor layouts, online evaluations, and some home inspections are being performed without the Buyers present or at least with proper protocols to keep everyone safe. Digital signatures are now the norm for all and are very simple to use. If you are thinking of selling your house or condominium, get the most up to date, LOCAL information. A Real Estate Market Evaluation and/or a Mortgage Pre-Approval done even a couple of months ago MUST be updated! Our main concern is still and always will be, the health and well being of you and your family. Please reach out if you have any questions or if you need any help!

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 143% for Residential, (in other words, 14.3 homes are sold for every 10 new listings). This is the highest we have seen in a very long time.

Homes Sold to Homes Listed Ratio: Buyers Market is below 40%, Balanced Market is between 40-60%, and Sellers Market is above 60%.

MLS® Properties SOLD

in December 2020

RAHB Market Activity	Number Of Sales Dec 2020	Number of Sales Dec 2019	Average Sale Price Dec 2020	Average Sale Price Dec 2019
West Hamilton	54	38	$590,913	$531,353
East Hamilton	80	51	$571,748	$419,921
Central Hamilton	116	67	$504,514	$370,722
Hamilton Mountain	115	106	$644,764	$526,627
Flamborough	15	14	$1,079,500	$839,843
Dundas	15	19	$791,767	$593,805
Ancaster	44	36	$942,484	$687,127
Waterdown	24	15	$848,073	$667,900
Stoney Creek	86	71	$711,162	$546,625
Glanbrook	28	27	$731,291	$584,870
Burlington	172	108	$961,908	$780,202
Dunnville	16	9	$501,571	$376,494
Cayuga	9	2	$772,001	$431,400
Caledonia	8	9	$572,000	$473,303
Hagersville	2	4	$651,000	$319,625
Seneca	0	3	$000,000	$747,000
Rainham	3	1	$572,400	$1,450,000
Grimsby	41	28	$769,155	$627,061
Smithville	8	6	$676,688	$431,332
West Lincoln	4	1	$806,000	$650,000

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.