Hamilton

Hamilton home sales and listings still struggling to return to normal levels amid COVID-19

The report shows sales are down 42.2 per cent since May 2019. While the sales since April 2020 have increased by almost the same rate, there are roughly 1,000 fewer sales in May this year.

The Realtors Association of Hamilton-Burlington expects local real estate to rebound in the summer

RAHB predicts the local real estate market is poised for a comeback this summer. (Kelly Bennett/CBC)

Sales and listing for homes in Hamilton and surrounding areas were still struggling to return to last year's volumes according to the the latest report from the Realtors Association of Hamilton-Burlington (RAHB).

A positive sign amid the slow market is that average price is up.

The report shows sales are down 42.2 per cent since May 2019. While the sales since April 2020 have increased by almost the same rate, there are roughly 1,000 fewer sales in May this year.

There are also about 1,000 fewer listing in May compared to 2019.

Neighbourhood data shows the Hamilton area has seen 55 per cent fewer sales. Burlington, Dundas, Glanbrook and Waterdown saw similar decreases. Stoney Creek saw a slight dip with 103 sales in May 2020 compared to 135 in May 2019.

The average price of a home in May 2020 was $655,418 — 10 per cent higher than it was a year ago and 6.3 per cent higher from the month prior.

RAHB President Kathy Della-Nebbia said, in a release, that the province's loosening of COVID-19 restrictions is upping consumer confidence.

"If progress continues and the weather cooperates, we should expect higher activity in June," she said.

The RAHB report compares real estate between communities in the area. (RAHB)

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