Hamilton housing sales up compared to January 2019 — but only for 'detached' homes
Average sale price of residential properties up 11.9 per cent to $617,496
The Realtors Association of Hamilton-Burlington (RAHB) says that there were 692 sales of residential properties in January 2020, which is up 5 per cent over the same month last year.
And compared to a slow December 2019, that's an 18.3 per cent increase.
The average price for residential properties also increased from January 2019 — it went up 11.9 per cent to $617,496.
RAHB President Kathy Della-Nebbia said that the dip in activity in December and increase in January is normal. In a press release, Della-Nebbia said that buyers are "coming out early" and that she expects the spring market to be "strong with more competition between sellers."
'Single family properties' increased
When looking at the number of sales of different types of properties, single family properties are the only type to have increased since January 2019.
The number of sales for single family properties increased by 10 per cent as compared to last year, with the average price increasing by 9.4 per cent.
Townhouse sales fell by 6.2 per cent, while the average price increased by 10.8 per cent to $518,361.
Apartment-style property sales also decreased by 1.4 per cent from January 2019, and the average price increased by 9.6 per cent.
The highest average price for residential properties continues to be those in Burlington at $840,066. When just looking at detached properties, the average jumps to $1,056,614.
Burlington was also the area with the highest number of sales for the month, clocking in at 142. Hamilton Mountain slots in second with 111 properties sold.
Compared to January 2019, the average sale price decreased in Dundas, Glanbrook, Dunnville, Rainham and West Lincoln, but rose in all other areas.