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February 2020

 

 

RAHB

RAHB REALTORS® Release January 2020 Market Statistics

February 2020 | Press Releases

 

RAHB market bounces back after slow December

Hamilton, ON (February 4, 2020) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 692 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January 2020. Sales are up 5 per cent over the same month last year, and up 18.3 per cent over December 2019. The average price for residential properties increased by 11.9 per cent from January 2019 to $617,496.

“Our market area experienced a reduction in activity and average price in December, as is the case for that typically slower month; however, we bounced back in January,” says RAHB President Kathy Della-Nebbia. “Buyers seem to be coming out early, so sellers shouldn’t feel the need to wait for the spring market to get a great value for their property. We expect the spring market will be strong with more competition between sellers, as many wait for the flowers to bloom to market their homes.”

 

 

 

The number of sales for single family properties within the entire RAHB market increased by 10 per cent compared to the same month last year, and the average sale price increased by 9.4 per cent. Townhouse sales activity across the entire RAHB market area decreased from January 2019 by 6.2 per cent, and the average townhouse sale price increased by 10.8 per cent to $518,361. Apartment-style property sales decreased by 1.4 per cent from January 2019, and the average price increased by 9.6 per cent.

 

 

 

“Although RAHB market statistics showed an overall increase in January 2020, certain segments of the market did not. For example, townhouse and apartment-style properties experienced a decrease in number of sales, and certain communities experienced a decrease in average price and/or number of sales – such as Glanbrook,” says RAHB CEO Carol Ann Burrell. “That’s why it is so important to work with a local RAHB REALTOR®, who has access to statistical resources to help you buy or sell your home.”

 

 

 

Specific neighbourhoods within the overall RAHB market area see results that often differ from the average of the entire RAHB market area. Because neighbourhoods vary, determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.

*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. Talk to your local REALTOR®.

 

 

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Your House & Home

 

The Must-Have Home Trends for 2020

 

No one wants to renovate a room in their house, only to realize they’ve made all the wrong choices! The world of design is so full with possibilities, it is easy to get lost. What is in, what is out? What is in style now, but will be passé soon? We consulted our experts to find out what will be the most popular interior and exterior home trends for 2020. Whether you would like to renovate your kitchen, your bathroom, or even the outside of your home, this article will help you become a subject matter expert and avoid any blunders!


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